BUA Group Chairman Urges Africa Industrialization
Analysis based on 6 articles · First reported Feb 10, 2026 · Last updated Feb 12, 2026
The advocacy for industrialization and value addition in Africa, exemplified by BUA Group's success in Nigeria, could lead to increased investment in African industrial sectors. This shift is expected to reduce reliance on raw material exports, potentially strengthening local economies and currencies, and creating new opportunities for long-term financing from institutions like Africa Finance Corporation.
Abdul Samad Rabiu, Founder and Executive Chairman of BUA Group, has called for a fundamental shift in Africa's development strategy, urging a move from raw material extraction to large-scale industrial processing and value addition. Speaking at the Mining Indaba 2026 forum, Rabiu highlighted Africa's structural paradox of being resource-rich yet exporting most of its produce in raw form. He used BUA Group's experience in Nigeria, transitioning from cement importation to local production with over $400 million in financing from Africa Finance Corporation, as a successful model. This shift has transformed Nigeria into a net cement exporter, saving billions in foreign exchange. Rabiu emphasized the need for coordinated action among governments, Development Finance Institutions (DFIs), and the private sector, advocating for policies that incentivize local processing and investment in infrastructure to achieve industrialization and shared prosperity across Africa.
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