Abdul Samad Rabiu Initiative launches $100m Africa fund for social devt

The Abdul Samad Rabiu (ASR) Initiative has launched a USD$100 million annual Africa fund for social development and renewal. Of the fund, USD$50million is allocated to Nigeria while USD$50million is allotted to the rest of the continent.

A press statement by the Initiative Tuesday said the ASR Africa is specifically extending its work to the education, health and social development sectors, starting with infrastructure and capacity development in these areas and supporting the efforts of various governments in Nigeria and Sub-Saharan Africa.

In the words of the founder and initiator of ASR, Alhaji Abdul Samad Rabiu, “It is with the blessings of the Almighty, my family, colleagues, the support 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 every year starting from this year, 2021; USD$50million to Nigeria and USD$50million to the rest of our beloved continent.”

He said, over the years as a corporate organisation, and through the BUA Foundation, his organization has been actively involved in corporate philanthropy in various sectors – from health, education, community development, water & sanitation, sports, and even more recently, to COVID-19.

He said, “Our broad focus is equipping facilities, our researchers, healthcare practitioners and community-level service providers, with the aim of providing sustainable solutions for generations to come.”

 Continuing, he added: “Based on results of extensive deliberation over the course of a year, “our first cohort for Nigeria will be NGN1billion each in grants to 6 universities in the 6 geopolitical zones in Nigeria, towards the initiation and upgrading of infrastructure, where applicable.

“The universities in 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 Abdul Samad Rabiu Initiative for the project duration.”

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