Nigerian Billionaire, Abdul Samad Rabiu set to invest in Rwandan, regional mining sector

 The Executive Chairman/CEO of BUA Group, Abdul Samad Rabiu, is eyeing the Rwandan and regional mining sector for viable opportunities. This is according to Rwanda’s leading daily, The New Times.

The disclosure was made at a meeting during the Africa CEO Forum in Kigali, Rwanda. The meeting aimed at drawing inspiration from the country’s leadership.

The billionaire who was recently listed by Forbes magazine amongst top richest people in Africa 2019, said that his interest in the mining sector is to ensure sustainable and valuable practices that create more value in the continent as opposed to exporting raw materials. He noted that over 76 per cent of mining operations in Africa are by western firms who often do little to work with local communities or process them from the continent.

he also added, ‘that they were studying Rwanda and East African region with chances of investment.This he said has seen more value retained abroad as opposed to Africa where the minerals are extracted. He said that way, the sector can provide better quality jobs; play a role in industrialization, as well as improve the quality of life on the continent.

According to Rabiu, “We are definitely looking at expanding. Rwanda is definitely a good ground for investment. There has been very strong economic growth, you have is very good leadership, infrastructure is coming in and there is a development strategy. There is so much opportunity here.”

“Mining is a big opportunity. There are lots of resources and opportunities in the region. There ought to be sustainable mining practices on the continent,” Rabiu added.

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