Showcasing Abdul Samad Rabiu’s wide-ranging philanthropy across Africa
Rabiu has become a notable philantrophist across Africa.
Rabiu has become a notable philantrophist across Africa.
ASR Africa focuses on delivering enduring impact in health, education, and social development across the African continent.
Rabiu’s portfolio includes a 99.8-percent stake in BUA Foods, the crown jewel of his holdings, valued at N3.64 trillion ($4.54 billion).
Leading the ranks on the Nigerian Exchange are iconic figures like Aliko Dangote, Femi Otedola, and Abdul Samad Rabiu.
Dangote and Rabiu are leaders of Africa’s industrial and manufacturing revolution through their conglomerates Dangote Group and BUA Group.
Rabiu’s BUA Group counters Dangote’s accusations with a history of perseverance.
This underscores the financial success of BUA Cement under Rabiu, a prominent industrialist who has solidified his standing as Nigeria’s second-richest man.
Since he returned to the coveted list of the world’s 500 wealthiest billionaires on Sept. 18, Rabiu has seen his net worth soar by $800 million.
Rabiu, Nigeria’s second richest man, is a devoted muslim and one of Africa’s most generous philanthropists.
Bloomberg estimates Rabiu’s net worth slightly lower at $5.91 billion, considering approximately $2.98 billion in miscellaneous liabilities.
Under the leadership of Rabiu, BUA Cement has firmly established itself as Nigeria’s second-largest cement producer.
Abdul Samad Rabiu, ranked as Africa’s fifth-richest individual and Nigeria’s second-richest man, boasts a net worth of $6.5 billion.
With his fortune pegged at $5.54 billion, Rabiu now claims the 444th spot on the global list of the wealthiest individuals.
This decision comes just one month after Rabiu expressed optimism regarding the completion of two new cement factories by the year’s end.
This surge in wealth has firmly positioned Rabiu as the 500th richest individual globally, just behind the 499th-ranked Charles Dolan.
Rabiu said that his company, BUA Cement, is building two new plants that will increase output capacity to 17 million metric tonnes.