Angola President Turns Screws on Corruption
President João Lourenço has since coming into office in 2017, led a crackdown on corruption in his administration and key economic sectors, including oil and mining. Most notable is the freezing of the assets of Isobel dos Santos, Africa's wealthiest woman, following a detailed, damning report by the International Consortium of Investigative Journalists, outlining her business dealings and how her father, former president Jose Eduardo dos Santos bolstered her career by awarding her companies public contracts, tax breaks and diamond mining rights, among others, writes Peter Fabricius for the Institute for Security Studies.
Luanda, Africa's second biggest oil exporter.
InFocus
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Isabel dos Santos, daughter of Angola's former president, has denied claims that she presided over corruption during her tenure as head of state oil firm Sonangol made by the current chair of the company, describing them as "slanderous". Dos Santos, ranked Africa's wealthiest woman by Forbes, says she would take all measures to protect her reputation.
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As he faces charges of misusing more than U.S.$1 billion in state funds, the husband of Angolan billionaire Isabel dos Santos defended himself by pointing to the couple's accounting firm, PricewaterhouseCoopers (PwC). The global accounting firm, battling to distance itself from a financial scandal engulfing Africa's richest woman, Dos Santos, was auditing the books of Angola's state oil company during a period that is now under criminal investigation. PwC is reported to have launched an
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Africa's richest woman and daughter of Angola's former president Isabel Dos Santos has said she was blindsided by a court decision to freeze her assets insisting that there was no due process followed as she did not receive any summons. She says she supports the anti-corruption campaign but believes it is being used to target her family members in the run-up to internal elections for the leadership of the ruling MPLA political party. In 2018, her brother, Jose Filomeno dos Santos, was
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A leaked trove of financial and business records reveals the inside story of how Isabel dos Santos, Africa's wealthiest woman, moved hundreds of millions of dollars in public money out of Angola and into a labyrinth of companies and subsidiaries, many of them in offshore secrecy jurisdictions around the world. The International Consortium of Investigative Journalism's Luanda Leaks details two decades of insider
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