Abdul Samad Rabiu: “BUA Cement contributes $250m equity to new production units in Sokoto State”
Details of the project finance deal between BUA and four international lenders in northern Nigeria are provided by Africa Business+.
Someone shares this article with you
▪ Abdul Samad Rabiu: “BUA Cement contributes $250m equity to new production units in Sokoto State”
▪ Details of the project finance deal between BUA and four international lenders in northern Nigeria are provided by Africa Business+.
▪ https://www.africabusinessplus.com/en/815934/abdul-samad-rabiu-bua-cement-contributes-250m-equity-to-new-production-units-in-sokoto-state-dfis-contribute-500m/
On 5 June, during the Africa CEO Forum organised by the Jeune Afrique media group, which ended this evening at the Sofitel in Abidjan, the head of the Nigerian conglomerate BUA Group, Abdul Samad Rabiu, signed an agreement with several development finance institutions. They have granted him a facility totalling $500 million to develop two new cement production lines in Sokoto, where the group already operates a plant. The electricity that will power the new plants will be partly renewable and derived from alternative fuels. The package is made up of several loans: $160.5 million from the International Finance Corporation, $94.5 million through its Joint Loan Portfolio Programme, $100 million from the African Development Bank (AfDB), $100 million from the Africa Finance Corporation (AFC) and $45 million from the German development finance institution (DEG). We spoke to the Nigerian billionaire on the sidelines of the signing ceremony.
This article is for subscribers only. To read more, subscribe with a special offer.
You are connected to your Jeune Afrique account but your Africa Business+ subscription does not allow you to consult the English version. To update your subscription, contact us by clicking here.
Recommended articles
Development Bank
20/04/2023 at 18h05, by Africa Business+, updated 26/04/2023
BOAD mandates consortium of experts to evaluate financial effectiveness in cement sector
The consortium comprises Perform Strategy & Co and Cermi, whose managers are Credo Mensah-Dzraku, consortium...
Industry
10/01/2023 at 17h16, by Africa Business+
AfDB and IFC co-finance $100m BUA Cement Plant in Sokoto
As part of a $350 million project, the plant is increasing its production capacity fivefold. In addition...
Industry
18/08/2022 at 15h18, by Africa Business+
Abdul Samad Rabiu seeking $500 million for Kalambaina cement plant
The Nigerian tycoon turns to international financing institutions to raise funds.
Agri-food industry
06/01/2022 at 16h47, by Africa Business+, updated 07/01/2022
Abdul Rabiu’s projects for BUA Foods after listing on NGX
According to Africa Business+ sources, the Nigerian billionaire held the vast majority of the company’s...
Industry
01/09/2020 at 08h26, by Africa Business+
BUA (A. Rabiu) encroaches on Dangote’s territory with refinery project supported by Axens
On 1 September, the Nigerian giant founded by Abdulsamad Rabiu and Dangote’s competitor, confirmed the...
Industry
17/06/2020 at 19h20, by Gaëlle Arenson, updated 18/06/2020
Dangote/BUA mining dispute: counsels from Paul Usoro & Co and KMO Legal await ruling on lease rights
In the legal battle that has pitted the Nigerian giants Dangote Cement/Dangote Industries and BUA International...
Any questions ? contact us
Please get in touch with the Africa Business+ team if you require any further information.
Email us : customer.care@africabusinessplus.com
Add AB+ to your home screen
1. Click on at the bottom of your screen.
2. Click on to add AB+ on the home screen.
3. Enter the name of the shortcut and confirm.