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Erik Prince to Partner With Mozambique Hidden-Debt Companies

Published: December 18, 2017
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Source: Bloomberg

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Blackwater Security founder Erik Prince will partner with at least one of the state-owned Mozambican companies at the center of a hidden-loan scandal that resulted in the country defaulting on its debt this year.

Prince, chairman of Hong Kong-based Frontier Services Group, is forming a joint venture with tuna-fishing company Ematum, and may extend this to assisting the southeast African nation with maritime security, he told reporters Wednesday in the capital, Maputo. Ematum Chairman Antonio do Rosario said Tuesday Prince will also partner with maritime security company ProIndicus, and Mozambique Asset Management, or MAM.

“We are here to work on finalizing details with a joint venture with the government of Mozambique to develop and enhance their fishery in a sustainable, professional and ethical manner,” Prince said at a joint press briefing with Do Rosario. “We are looking at many other investment opportunities in Mozambique.”

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