Business
Africa’s 3rd Richest Man, Abdul Samad Rabiu Tells How To Make Continent Prosperous
an issue declared very close to his heart
The third richest man in Africa, Abdul Samad Rabiu has provided a major solution to unlocking the continent’s prosperity – an issue declared very close to his heart.
The billionaire who displaced South Africa’s Nicky Oppenheimer on the Forbes list of Africa’s wealthiest points to a new approach to industrialization as the key.
“As the founder and chairman of BUA Group, I have been fortunate to witness firsthand the transformative power of industrialization and I believe it is essential for Africa’s future success” Abdul Samad Rabiu whose company just declared $146.2 million profit in the first quarter of 2023 stated at the Oxford Africa Conference 2023.
The king of commerce whose charity works are touching lives across the continent through ASR Africa further disclosed that “I think it is time for us to rethink our approach to industrialization focusing on the areas that will deliver the most significant impact, we can no longer depend solely on ourselves, indeed we must collaborate and learn from successful examples”
The widely decorated who just ended his tenure as the president of the France Nigeria Business Council went on to provide deeper insight by identifying specifics that need to be at play for the continent to thrive.
“For us to thrive as a continent Africa Continental Free Trade Agreement, infrastructure, technology transfer, African Highway, Railway, and free movement of people and services are very very crucial but for us to fully capitalize on this opportunity we must address the critical infrastructure and logistical challenges that have long hindered trade and investment across the continent, so we really need to have the right approach and leadership is key” the king of commerce added.
The billionaire whose worth soared from $1.2 billion in 2014 to $8.6 billion in 2023 – thanks to the business approach that transformed his businesses into roles models – made the summation during his closing remark at the event held at the Andrew Wiles Building, Mathematical Institute of the University of Oxford, United Kingdom on May 13, 2023.
