Billionaire businessman Bob Johnson has chosen Liberia for his latest
venture, the country's first top class hotel. Johnson, the founder of Black Entertainment Television, was the first African American to control a company on the New York Stock Exchange and the first black owner of a major U.S. professional sports team.
He told CNN why he chose a country blighted by a long-running civil war for his 78-room beach-side spa resort.
"When you go into a post-conflict country, you are going to have to be willing to take risks, but with risks there are also rewards," said Johnson.
"If I can get in first and make the right connections, you've got a good chance of not only making an investment that will return a very good reward."
Johnson, the founder and chairman of RLJ Companies, said
he avoided the capital Monrovia because of its social problems, high
numbers of people without proper housing and lack of reliable
electricity. Instead, with the government's help, he chose a beach-side
site from which he had to clear some residents.
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Source: Stephanie Elam, CNN
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