BUA Group is looking at the Rwandan and regional mining sector for viable opportunities, its Executive Chairman Abdul Samad Rabiu has said.
According to Rwandan’s leading newspaper, The New Times, Rabiu stated that with the growth of the company in West Africa, there were considerations to expand into other parts of the continent, especially in the advent of increased integration and growth of business opportunities.
He said this had spurred his interest to study Rwanda and other East African countries to exploit investment opportunities.
He said 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.
He noted that over 76 per cent of mining operations in Africa are by western firms which often do little to work with local communities or process them from the continent.
This, he said, had seen more value retained abroad as opposed to Africa where the minerals are extracted.
The BUA chief said he was spurred by the will to see Africa retain her resources and creating wealth for her people unlike what is happening now where the continent is exploited by foreigners who give nothing in return.
He argued that it is only Africans that could develop Africa, insisting that no foreigner could love Africa more than herself.
He reiterated that this is the only way the continent can best provide better quality jobs; play a role in industrialisation, as well as improve the quality of life on the continent.
“We are definitely looking at expanding. Rwanda is a good ground for investment. They have worked hard to have a strong economic growth, good leadership, and strong infrastructure base. 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,” Rabiu added.
