Abdul Samad Rabiu the Executive Chairman/CEO of BUA Group is believed to be studying a possible expansion of his BUA Group into East African budding economy- Rwandan, besides East African regional mining sector for viable opportunities.
According to Rwanda’s leading daily, The New Times, the disclosure came at a meeting during the Africa CEO Forum, in Kigali, the country’s capital, aimed at drawing inspiration from the country’s leadership.
Abdul Samad admitted considerations to expand into other parts of the continent, especially against the backdrop of increased integration and growth of business opportunities.
He said that BUA Group was studying Rwanda and East African region with chances of investment, adding that his interest in the mining sector is to ensure sustainable and valuable practices that create more value in the continent as opposed to exporting raw materials.
Over 76% of mining operations in Africa, he regretted, are by western firms who often do little to work with local communities or process them from the continent.
This he said has seen more value retained abroad as opposed to Africa where the minerals are extracted. He said that way, the sector can provide better quality jobs; play a role in industrialization, as well as improve the quality of life on the continent.
According to Rabiu, “We are definitely looking at expanding. Rwanda is definitely a good ground for investment. There has been very strong economic growth, you have is very good leadership, infrastructure is coming in and there is a development strategy. There is so much opportunity here.
“Mining is a big opportunity. There are lots of resources and opportunities in the region. There ought to be sustainable mining practices on the continent,” he added.