Prince of Blackwater heads to Africa

On November 20, 2012 by stratagem

Source: CSM

Erik Prince, the man who founded Blackwater, the private military contractor that became synonymous with mercenary excess during the Iraq war, has apparently begun a bold new business venture: He’s going to be investing with a group of unnamed Chinese government-linked companies in resource extraction and infrastructure in sub-Saharan Africa.

At least that’s according to the South China Morning Post, which published an exclusive interview with Mr. Prince yesterday. The paper says Mr. Prince has founded an investment company called Frontier Resource Group earlier this year as an “Africa-dedicated investment firm partnered with major Chinese enterprises, including at least one state-owned resource giant that is keen to pour money into the resource-rich continent.”

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Prince still sees his future on the continent. The Frontier Resources Group remains headquartered in Abu Dhabi, but he told the SCMP that “Africa is so far the most unexplored part of the world, and I think China has seen a lot of promise in Africa.” He told the paper that his Africa fund has raised $100 million in private equity so far and argued that investors will be wise to place their bets on his new venture.

Read More: CSM

Related Article: Is private security taking over Africa? [African Business]

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