Former Blackwater founder Erik Prince has major positions in several firms wanting to profit from Africa's vast natural resources. Prince started Frontier Resource Group in 2012. Frontier Resource Group is an Abu Dhabi based private equity underwriter (PEU) with the following mission:
Frontier Resource Group (FRG) is a Private Equity Investment Firm focused on natural resource development in leading edge regions.FRG typically makes $2mm to $25mm investments in:
• Management Buyout • Growth Financing • Acquisition • Project Investment • Asset Leasing • Feasibility and Exploration
Prince's second foray into Africa comes through China, a country with huge natural resource needs.
DVN acquired Frontier Services Limited (FSL), an aviation and logistics services company operating in East Africa, from Mr. Prince with the goal of building FSL into the premier logistics, aviation, and risk management provider in Africa.
They liked it so much they turned the whole company over to Erik's vision:
"Over the past five years, China has become the principal foreign investor in sub-Saharan Africa and is expected to contribute at least an additional one trillion US dollars in capital to economic development of the continent during the coming decade," Mr. Ko explained, "hence the demand for 'secure logistics' in Africa can only increase and offers superb business prospects."Crisis creates opportunity, especially for PEU salesmen.
Mr. Ko added that given such compelling business reasons and Mr. Prince's proven track record in the logistics and security fields, "The DVN Board of Directors believe it is in the interest of the company's shareholders to align the DVN business strategy more closely with Mr. Prince's vision, to entrust him with the role of chairman, and to grant him stock options in the amount of 9% of the company's outstanding shares."
"I'm confident if we had been on the job in Benghazi, Ambassador Stevens would still be alive," Prince said. November
A Western Prince will lead Chinese businessmen in offering protection for those taking Africa's natural resources. Consider it colonialism with a modern PEU face, one framed by greed and revenge.