BUA Group Chairman Advocates Shift to Value Addition in Africa's Mining Sector
BUA Group Chairman, Abdul Samad Rabiu, emphasized the need to move from raw material extraction to value addition in Africa's mining and industrial sectors at the Africa Finance Corporation Forum. Rabiu praised AFC for mobilizing long-term capital for Africa's industrial sector.
He cited BUA Group's transition from cement importation to local production in Nigeria, leading to significant savings in foreign exchange. Rabiu stressed the role of patient long-term financing, particularly from development finance institutions like AFC, in supporting industrial projects.
He called for coordinated efforts among governments, DFIs, and the private sector to invest in local processing, infrastructure, and industrial development to unlock Africa's economic potential.
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