African Minerals Set to Make a Big Impact on Sierra Leone’s Economic Development
Frank Timis
It is quite rare in the corridors of the international financial world of investors, for anyone to admit wrong and confess to his past activities without being forced to do so. It demonstrates human courage at its best. It also shows character – and most times when people admit to wrong-doing they set out to make amends in big ways. It is often seen in their resolve to make the best of the moment – and those they come in contact with either in business or private become the recipients of the ultimate in decency and commitment. At the top of African Mineral’s Management is a man whose determination to succeed in business has led to an amazing transparency of dealings with the law in his early years. Frank Timis is on a mission. He wants to set the record straight. He has set out a clear strategy to improve the lives of the people of Sierra Leone by embarking on not only massive mining projects that will bring employment to thousand’s of the country’s citizens, but also investment in the establishment of educational institutions and infrastructural development.
African Minerals has undertaken the biggest single investment in the mining sector in the West African country. Sierra Leone is at crossroads between looking back at its past with lessons to learn and looking forward to the future with prospects of change that will bring economic recovery to its once battered economy. And its seems African Minerals is at the forefront of contributing to that change. It is quite easy for anyone to be suspicious of a large investment initiative from an international company in a small African country with huge mineral wealth and potential. A lot has been written about African Minerals and Frank Timis in the past. But most of what has been written focused mainly on the mistakes of the past – which have been fully acknowledged by the company’s management. Surely everyone deserves a second chance. Especially when that chance is given to someone whose determination to prove everyone wrong can only be matched with his vision to end the poverty-stricken environment structure of a country he has come to fall in love with. Timis has lent his support to Sparks, a UK based children’s medical charity whose remit is to fund research across the whole spectrum of paediatric medicine, and has invested in a company developing a more effective method of treating malaria. And he can even do more for Sierra Leone!
Frank Timis’ love for Sierra Leone is fully compounded in his decision to employ a huge percentage of his company’s investment plan in a country that he believes has the potential to come out of its economic misery and become the energy powerhouse of the West African Region. His drive to be open about his company’s past dealings should be commended. And he should be encouraged to do more for Sierra Leone. Frank Timis once said “the best lie is the truth, because you never get caught.” Reputable international renowned companies like Goldman Sachs and JP Morgan to Macquarie, have backed his business projects for the past 15 years. This goes to show the faith big companies have in Timis. He may be a colorful personality, but he surely has the brains to turn things around. And it is that amazing wit to bring about success to his business environment that should be called upon and hope that Sierra Leone will experience a dramatic turn around as a result of Frank Timis’ investment opportunities in the country. As the government of Ernest Koroma has made a clear commitment to building long-term economic growth with overseas companies, we are beginning to see partnerships being formed with major companies around the world that will ultimately define the long-awaited road to recovery.
Several schools in Sierra Leone have been constructed by African Minerals, and they also fund an annual scholarship programme for children who would otherwise not have access to an education. The United Nations recently declared the company’s Tonkolili development to be the Most Effective Corporate Social Responsibility Project ever embarked on. But he surely does not get the credit he deserves for such amazing feats of accomplishments. With all this backdrop, Frank Timis says he is not looking for recognition for his philanthropy. He is always looking forward to the next deal. “People bring me opportunities because they know I take punts. I put $50m, $100m of my own money in,” he said. “I am not good at spelling. I left school when I was 12. But I can count to a billion. I can make a billion too.” Timis is an engaging character but not fussy – he would quietly work away from anywhere if he recognises that he is an unwelcome visitor. Timis is definitely geared for a long stay in Sierra Leone as the people are renowned for world class hospitality that is second to none.
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