Finance

BUA chairman seeks public-private partnership with Nigeria, Africa

BUA gets $500m facility from IFC for industrialisation

Alhaji Abdul Samad Rabiu, Founder/Executive Chairman of BUA Group, has advocated a three-pronged partnership between the African private sector, government and finance institutions to fast-track growth and development of Nigeria, and the Africa continent.

Rabiu, who is the President of the France Nigeria Business Council,  made the advocay while speaking at the opening session of the Nigerian International Partnership Forum in Paris, France said such partnership will identify sustainable solutions to the issues of infrastructure, climate change and industrialisation.

He noted that despite the challenges occasioned by the global COVID-19 pandemic, African governments must work with the private sectors across board to develop sustainable policies that will aid investments and innovation while financial institutions must move with the times to come up with more innovative approaches to supporting growth on the continent.

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According to the BUA Group boss, the Nigeria Partnership Forum is timely and a welcome development – especially for the rest of Africa, in the face of increasing global economic uncertainty and challenges brought about by the global pandemic.

“Numerous opportunities for global partnerships exist across Nigeria and Africa. Key amongst these is in the infrastructure space. By increasing our investments in infrastructure, creating access between borders, encouraging the free movement of goods and services under the AfCFTA, and opening up the continent, it is expected that supply chains will become more efficient, trade would be bolstered, new industries and industrial bases will emerge while intra-African integration would be enhanced. All of these will ensure that Nigerians and Africans will be better off.”

“We also need to see more three-way partnerships between the African private sector, Governments and Development Finance institutions to fast-track growth. I believe conversations in this important forum will touch on this topic while also challenging our approach towards the future of Nigeria and the African continent. We can all agree that there are challenges but while they may appear numerous, we cannot give up or choose to remain docile in our bid to accelerate development and innovation. “Our financial institutions must move with the times and come up with more innovative approaches to supporting growth on the continent.”

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Sunnews

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