Blackwater founder and Navy SEAL Erik Prince is helping Chinese firms “take the drama out of Africa” by consulting on how they should do business on the continent, according to a report in FireDogLake.com.
Formed in 1997 to provide training support to military and law enforcement, Blackwater USA worked with SEAL and SWAT teams. The security firm won its first U.S. government contract after the bombing of the USS Cole off of the coast of Yemen in October 2000. Blackwater subsequently trained more than 100,000 sailors.
Africa is a major target for Chinese investment to secure resources, and Prince’s new company — Hong Kong-headquartered Frontier Services Group (FSG) — provides risk management, logistics, and aviation services to companies that want to set up in Africa, according to FireDogLake.com.
Based in Hong Kong, FSG works closely with one of China’s state-owned enterprises, CITIC Group, according to the report. CITIC is a state-owned investment group worth
about $12 billion with 44 subsidiaries that owns banks in the U.S., Canada, Australia, Hong Kong and New Zealand. CITIC was in talks at one point to buy Morgan Stanley, according to the report.
Prince said most of his Chinese clients are interested in resources in Africa including gold, steel, energy, bauxite, copper and tin.
Full article: Blackwater Founder Advising Chinese Firms On Risk In Africa (Africa Insider)