| Nigeria: Interest rate hikes and naira weakness threaten manufacturing
April 2, 2024--While distressed companies are cutting costs, they will still face difficulties accessing finance in the current environment. |
| Many businesses in Nigeria are being whipsawed by the simultaneous blow of interest-rate hikes and the devaluation of the naira by the central bank, but those in manufacturing-an industry that relies heavily on imports and fluctuations in the exchange rate- face a real risk of shutting down. |