Samad Rabiu Officially Launches $100 Million Annual African Fund For Social Development

 

Nigerian Industrialist and Philanthropist, Abdul Samad Rabiu, today announced the launch of the ABDUL SAMAD RABIU AFRICA INITIATIVE (ASR AFRICA) as well as a yearly Africa Fund endowment of USD100million starting from 2021 that will cater to various interventions in Education Health and Social Development. According to a statement by the ASR Africa Initiative, USD50million will be dedicated to Nigeria yearly and USD50million to the rest of Africa.

Rabiu, who is the Founder and Chairman of BUA Group, one of Africa’s largest Foods, Mining, Infrastructure and Manufacturing Conglomerates is also the sixth richest black person in the world according to the latest Forbes rankings.

The initiative also announced grants of 1billion Naira each to 6 Nigerian Universities across Nigeria’s geopolitical zones. These grants will go towards the initiation and upgrading of infrastructure, where applicable. The universities benefitting from the first phase include Ahmadu Bello University, University of Maiduguri, University of Nigeria, University of Benin, University of Ilorin, and University of Ibadan. These grants will be directed towards projects that will be delivered by the ASR Africa Initiative for the project duration.

"It is with the blessings of the Almighty, my circle of relatives, colleagues, the guide of my community and the backing of my conscience, that I announce the launch of the Abdul Samad Rabiu Initiative, with an Africa Fund endowment of USD100million each yr starting from this yr, 2021; USD$50million to Nigeria and USD$50million to the relaxation of our liked continent."

"Over the years as a company, and through the BUA Foundation, we were actively worried in corporate philanthropy in numerous sectors – from fitness, training, network improvement, water & sanitation, sports activities, and even more recently, our work on COVID-19."

"However, with the Abdul Samad Rabiu Initiative and its annual USD$100million Africa Fund for Social Development, we are in particular extending this work to the Education, Health and Social Development sectors, starting with infrastructure and capability improvement in these regions and supporting the efforts of various governments in Nigeria and Sub-Saharan Africa. Our extensive consciousness is equipping facilities, our researchers, healthcare practitioners and community-stage service companies, with the aim of supplying sustainable solutions for generations to come back."

"They say life starts offevolved at 50; what they in no way inform you is that a virus can exchange your lifestyles at 60."

"In that 12 months 2020, once I grew to become 60, at least  million others changed into memories, taken by way of this deadly virus. I watched hundreds of thousands become numbers in a global loss of life toll and ancestors within the international beyond. The same pandemic that forced us people to sluggish down, now forces our humaneness to rectangular up. The plans I once took time to assemble, now take up all my time."

"The challenges are manifold in diverse regions of our lives, from education, directly to healthcare, and at some stage in social development."

"Therefore, primarily based at the consequences of huge deliberation over the route of a yr, our first cohort for Nigeria may be NGN1billion each in presents to six universities inside the 6 geopolitical zones in Nigeria, towards the initiation and upgrading of infrastructure, in which applicable. The universities inside the first section encompass Ahmadu Bello University, University of Maiduguri, University of Nigeria, University of Benin, University of Ilorin, and University of Ibadan. These offers could be directed in the direction of projects on the way to be introduced with the aid of the Abdul Samad Rabiu Initiative for the challenge period."

"For responsibility, we can present annual reports, with all activities overseen by using a sterling board of trustees. More importantly, I am counting on you as beneficiaries, give up-users and therefore custodians of these tasks to hold the Abdul Samad Rabiu Initiative to account; touch, commend, endorse or complain to us on asrafrica.Org."

"Over the path of the 12 months, I assume to additionally announce funding opportunities of USD$50million for the relaxation of Africa – we're presently in talks with our stakeholders and other partners and announcements may be duly made."

"As the world attempts to claw its manner back to enterprise as usual, the Abdul Samad Rabiu Initiative’s Africa Fund for Social Development & Renewal objectives to be a modest reminder to us all that till our fitness, schooling and different development issues are fixed, business as usual in these times, approach business as brutal. We pledge to maintain to do what we will to assist ongoing efforts by way of numerous governments to bridge the improvement divide across Africa."

"This is my promise. This is the purpose of ASR AFRICA."