- Billionaire businessman, Abdul Samad Rabiu has set up a USD100 million fund exclusively focussing on four key areas critical to human development index (HDI) – Education, Health and Social Development sectors.
- The fund is expected to give a big boost to Africa’s sustainable growth and development efforts.
Billionaire businessman, Abdul Samad Rabiu has set up a USD100 million fund exclusively focussing on four key areas critical to the human development index (HDI) – Education, Health and Social Development sectors. The fund is expected to give a big boost to Africa’s sustainable growth and development efforts.
Called as Abdul Samad Rabiu Initiative, the investment will focus on infrastructure and capacity development. The 61-year-old Nigerian billionaire said that the annual grant will be split into two halves with his home country allocated $50m and the rest of Africa sharing $50million.Six Nigerian universities from six geopolitical zones will be allocated N1billion in the first phase. These include Ahmadu Bello University, University of Maiduguri, University of Nigeria, University of Benin, University of Ilorin, and University of Ibadan.
His BUA Foundation has been actively involved in corporate philanthropy in various sectors – from health, education, community development, water and sanitation, sports, and more recently work on COVID-19. He added that the programme will
focus on equipping facilities, researchers, healthcare practitioners and community-level service providers, to offer sustainable solutions for future generations.
The program will be implemented by close supervision of a sterling board of trustees and duly documented in annual reports. The statement pointed out that in the current struggling times of COVID, the Abdul Samad Rabiu Initiative’s Africa Fund for Social Development and Renewal is a modest reminder to all that until our health, education and other development issues are fixed, the businesses cannot recover.
