BUA Chairman Calls for Shift from Extraction to Value Addition in African Mining Sector
At the AFC Mining Indaba 2026, Abdul Samad Rabiu, the Chairman of BUA Group, urged African governments and the private sector to move from raw material extraction to value addition. Rabiu highlighted BUA Group's transition from cement importation to local production in Nigeria, emphasizing the need for patient long-term financing, particularly from institutions like Africa Finance Corporation (AFC).
He stressed the importance of industrial transformation and value chain development to boost Africa's economy. Rabiu pointed out Africa's paradox of being resource-rich but exporting raw materials, calling for coordinated action among stakeholders to promote local processing and industrialization.
He cited examples of untapped potential in various sectors like mining, agriculture, and food production. Rabiu emphasized the need for policies that incentivize local processing, investment in infrastructure, and industrial discipline to drive Africa's industrialization and economic growth.
Plus234Feed summary based on reporting from Politics Nigeria. Read the original report below.
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