The achievement of Abdul Samad Rabiu, founder and chairman of BUA Group and his brother, Kabiru Rabiu, who co-own BUA Foods Plc amassing a staggering N110 billion in just 8 hours captured the attention of African entrepreneurs and business enthusiasts. The brothers have made names for themselves as a dynamic and astute entrepreneur, excelling in diverse sectors such as cement, sugar, amongst others.
As the largest shareholders of BUA Foods Plc, one of the country’s leading food and fast-moving consumer goods companies, the Rabiu brothers made billions of naira through the market value of BUA Foods, which is part of the BUA Group, having increased by N119 billion due to a significant rise in the company’s share price.
The company’s stock rose by 8.87%, to reach N81.00 per share, up from the initial N 74.00 per share and have skyrocketed the Nigerian billionaires net worth while drawing some lessons for businessmen, aspiring billionaires, amongst others. Let’s dive in.
Their informed strategic partnerships
The Rabiu brothers exemplifies the act of collaborating with the right partners which can greatly enhance business success. Abdul Samad Rabiu who is the chairman of the company and Kabiru Rabiu who currently serves as the Non-Executive Director at BUA Foods Plc pulled their resources together to become the largest shareholders of the company which in return increased their net worth.
They leverage on their collective strengths which helped them gain a competitive edge, increased efficiency, and unlocked new avenues for growth.
Samad & Kabiru’s business expertise and experience
Aside from being the Non-Executive Director at BUA Foods Plc, Kabiru Rabiu also serves as a Non-Executive Director at BUA Cement Plc, and the Group Executive Director at BUA Group with over 20 years’ experience spanning multiple sectors, including edible oils, cement, and infrastructure as well as various management positions such as being the pioneer Chairman of the Nigerian Sugar Institute, amongst others which influenced his business expertise.
Abdul Samad on the other hand has been controlling BUA Group since the 1980s having involved different moves and decisions in the course of running the company. Existing or future businessmen should focus on sharpening their business expertise as it is a driver of making well informed decisions which could lead to growth.
They embraced diversification for risk mitigation
Abdul Samad Rabiu and Kabiru Rabiu have built the BUA Group by diversifying their investments across different sectors. This strategy helps mitigate risks in terms of loss which could emanate from a particular sector and provides opportunities for growth in various industries.
It is essential to consider diversification as a way to safeguard your business against economic fluctuations and market uncertainties.
Samad & Kabiru understands persistence and resilience
During the last quarter of 2022, Both Abdulsamad and Kabiru lost a whopping N109,287 billion within five days of trading. They lost the sum in investment value after shareholders engaged in a sell off that resulted in BUA Cement’s share value depreciating by -10.39%.
With this huge loss, they were able to navigate through and bounce back with a whooping N110 billion in barely three months. Entrepreneurship is often accompanied by challenges and setbacks. Successful business leaders like Abdul Samad Rabiu demonstrate resilience and perseverance in the face of adversity. Learning from failures, adapting to change, and maintaining a positive mindset are essential qualities for achieving long-term success.
They understand the value of long term vision
Throughout their entrepreneurial journey, they have demonstrated a profound understanding of the significance of setting ambitious goals and aligning their actions with a future-oriented perspective. Abdul Samad Rabiu and his brother’s success can be attributed, in part, to their ability to define a clear path for their businesses.
They have consistently outlined long-term objectives that provide a sense of direction, guiding their actions and decisions. By setting specific and measurable goals, entrepreneurs can establish a roadmap that directs their efforts and aids in maintaining focus amidst challenges.
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