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BUA Industries secures $200 million from Afreximbank to accelerate expansion, boosting Nigeria’s industrial growth and self-sufficiency in key sectors.
Abdul Samad Rabiu, the billionaire founder and chairman of BUA Group, has awarded 40 standout students from Al-Qalam University in Katsina State with the "Abdul Samad Rabiu Achievers Award."
This highlights Rabiu’s dedication to supporting his entire workforce during tough economic times, acknowledging the challenges faced by his employees.
With Rabiu at the helm, BUA Group has emerged as a major player in Africa’s foods, mining, manufacturing, and industrial sectors.
Dangote and Rabiu are leaders of Africa’s industrial and manufacturing revolution through their conglomerates Dangote Group and BUA Group.
With his fortune pegged at $5.54 billion, Rabiu now claims the 444th spot on the global list of the wealthiest individuals.
Rabiu said that his company, BUA Cement, is building two new plants that will increase output capacity to 17 million metric tonnes.
Rabiu’s fortune has taken a remarkable turn, with his net worth bouncing back by more than $1 billion.
BUA Foods, which is majority owned by Rabiu, is the unified food business segment of BUA Group.
Boasting a net worth of $5.6 billion, Rabiu now ranks as the fifth-richest man in Africa.
With the latest surge of $501 million in his net worth, Rabiu’s year-to-date wealth gains have now reached $1.53 billion.
Rabiu: Africa’s third-richest billionaire’s businesses thrive, generating $146.2 million profit in Q1 2023.
Rabiu is also set to receive a dividend of $198 million.
Rabiu holds a 96.3-percent ownership stake in BUA Cement.