U.S. appoints American investor in Lekki Free Zone as advisor on Africa

26 June

Frank Mosier, the chairman of Rendeavour, the developer of Alaro City, the new inclusive city in the Lekki Free Zone, has been appointed a member of the United States President’s Advisory Council on Doing Business in Africa (PAC-DBIA).

The council was established in 2014 to provide analyses and recommendations to the U.S. Government on strengthening commercial engagement between the United States and Africa. It informs U.S. government policies and activities across the continent; particularly in advancing the economic pillar of the Africa Strategy through Prosper Africa, an economic initiative to substantially increase two-way trade and investment as well as support increased jobs in the United States and Africa.

U.S. Secretary of Commerce, Wilbur Ross, in a statement announcing the inauguration of the council, said: “The United States is making real progress in Africa, and we remain a strong, long-term, and stable partner in the continent’s economic development especially through the Prosper Africa initiative.”

Mr Mosier is a serial investor in emerging markets, and is also the largest American investor in Rendeavour; whichis building seven new cities in Africa: in Nigeria, Kenya, Ghana, Zambia and Democratic Republic of the Congo. As a master developer, Rendeavour invests over $250 million in each project, creating the infrastructure and living and working spaces that will help sustain and accelerate Africa’s economic growth, meet the aspirations of Africa’s burgeoning middle classes, and serve as a catalyst for further urban development.

Alaro City, launched in January 2019, is planned as a 2,000-hectare integrated mixed-use, city-scale development with industrial and logistics locations, complemented by offices, homes, schools, healthcare facilities, hotels, entertainment and 150 hectares of parks and open spaces. The project is a joint venture between the Lagos State Government and Rendeavour. Located in the North West Quadrant of the Lekki Free Zone, it lies in the growth path of Lagos, one of Africa’s fastest-growing cities with a population of over 20 million. Alaro City is adjacent to the future international airport, the region’s largest deep-sea port, and major Nigerian and international companies.