Angola Made Her Africa’s Richest Woman, But the Tide Has Turned
Bloomberg 3 hrs ago
(Bloomberg)
A year after Angolan authorities cracked down on her multibillion-dollar business empire, Africa’s once-richest woman is watching it crumble.
From self-imposed exile in Dubai, Isabel dos Santos has been fighting a legal battle against Angola’s government as court orders roil her companies. In Luanda, shelves at the Candando supermarket stores are more than half-empty. A beer factory south of the capital is running at 30% of its production capacity. Operations at the country’s biggest cement maker have also slowed.
All of the businesses are controlled by Dos Santos, who Angolan prosecutors accuse of causing more than $5 billion of losses to the southwest African nation’s economy during her father’s 38-year rule. He stepped down in 2017, making way for longtime ally Joao Lourenco. Within months, Lourenco turned on the family, firing Isabel as chairwoman of state oil co
Isabel dos Santos. Image: Nuno Coimbra
A year after Angolan authorities cracked down on her multibillion-dollar business empire, Africa’s once-richest woman is watching it crumble.
From self-imposed exile in Dubai, Isabel dos Santos has been fighting a legal battle against Angola’s government as court orders roil her companies. In Luanda, shelves at the Candando supermarket stores are more than half empty. A beer factory south of the capital is running at 30% of its production capacity. Operations at the country’s biggest cement maker have also slowed.
All of the businesses are controlled by Dos Santos, who Angolan prosecutors accuse of causing more than US$5-billion of losses to the southwest African nation’s economy during her father’s 38-year rule. He stepped down in 2017, making way for longtime ally Joao Lourenco. Within months, Lourenco turned on the family, firing Isabel as chairwoman of state oil company Sonangol. Two years later, authorities froze her domestic a
Angola Begins Sale of State Bank as Test for Oil Privatization
Henrique Almeida, Bloomberg News LUANDA, ANGOLA - JANUARY 30: A view of downtown Luanda as seen on January 30, 2020 in Luanda, Angola. Businesswoman Isabel dos Santos is the daughter of the former President of Angola - Jose Eduardo dos Santos. Forbes Magazine put her fortune at $2.1billion making her the richest woman in Africa. How she made her fortune has come under scrutiny as international media using information from the Luanda Leaks have revealed how, during his presidency, her father sanctioned her acquisition of stakes in Angolan industries including banking, diamonds, oil and telecoms. In December 2019 the Angolan Courts froze Dos Santos s stakes in Angolan companies as it brought a case against her regarding funds owed to the state oil firm. (Photo by Luke Dray/Getty Images)
China Daily Global / 2021-04 / 13 / Page013
Healthy cooperation between China and Angola By GONG TAO | China Daily Global | Updated: 2021-04-13 00:00 The two countries are working closely together to contribute to community with a shared future and health for all A total of 200,000 doses of Chinese COVID-19 vaccine arrived in Angola in late March, helping the African nation roll out its vaccination programs to protect Angolan citizens against the disease. Angola s Health Minister Silvia Lutucuta and Secretary of State for International Cooperation Domingos Lopes attended the handover ceremony for the vaccines, attesting to the friendship and cooperation between the two countries.
MA XUEJING/CHINA DAILY
The two countries are working closely together to contribute to community with a shared future and health for all
A total of 200,000 doses of Chinese COVID-19 vaccine arrived in Angola in late March, helping the African nation roll out its vaccination programs to protect Angolan citizens against the disease.
Angola s Health Minister Silvia Lutucuta and Secretary of State for International Cooperation Domingos Lopes attended the handover ceremony for the vaccines, attesting to the friendship and cooperation between the two countries.
At the Extraordinary China-Africa Summit on Solidarity Against COVID-19 in June 2020, President Xi Jinping pledged that China would give priority to African countries after developing its COVID-19 vaccines.