Moody-Stuart joins Phoenix

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The Independent Online

Sir Mark Moody-Stuart, the ex-chairman of Anglo American, the mining giant, is joining the board of Phoenix Africa, a new fund committed to investing in post-conflict Africa.

Phoenix Africa was created by ex-banker and Africa historian, Paddy Docherty, to channel international capital into countries such as Sierra Leone, Nigeria and Mozambique.

Mr Docherty said having Sir Mark on board was a huge boost to the business, which is also advised by Omobola Johnson, a Nigerian cabinet minister. Others involved include Professor Paul Collier, a development economist, Richard Dowden, the director of the Royal African Society, and Major-General John Holmes, a former SAS officer who advises on security.

Mr Docherty added: "There are big opportunities in countries such as Sierra Leone which are being ignored by traditional investors."