Former prime minister Boris Johnson reportedly sought to secure a billion-dollar investment from the United Arab Emirates for a private business venture, raising questions about potential breaches of ethics rules. Leaked documents, obtained by the transparency group Distributed Denial of Secrets and seen by the Guardian, indicate that Johnson was hired as the 'principal adviser' for Bia Advisory, a little-known climate finance firm, to help secure funding from Abu Dhabi's Mubadala investment fund.
Johnson, who left parliament less than two years after his premiership ended, allegedly used relationships cultivated during his time in power. The leaked files suggest he was offered a 24% personal stake in Bia Advisory, which was to be incorporated in Guernsey. His former Downing Street aide, Shelley Williams-Walker, was also set to receive a 20% stake. The firm’s pitch reportedly involved asking Abu Dhabi to let it manage €1bn and provide a €10m grant to cover initial costs.
The venture’s founders include Shem Baldeosingh, a public affairs consultant and vape lobbyist, and David Roach, a former Vote Leave campaigner. An Austrian banker was also recruited. Johnson hosted Khaldoon al-Mubarak, the head of Mubadala and chairman of Manchester City, at least three times at No 10 during his premiership. The files suggest that Johnson’s role was to leverage this relationship to secure patronage for the venture.
The revelations come after previous reports of Johnson’s dealings in Saudi Arabia and Venezuela. Senior Labour and Liberal Democrat politicians have called for an investigation into his use of public funds, including the £115,000 annual public duty costs allowance, which is meant to cover costs related to his role as a former prime minister. Johnson dismissed the allegations as 'rubbish' and did not respond to specific questions about Bia Advisory and his activities in Abu Dhabi.
