Angola

Luanda (AFP) The son of Angola’s former president Jose Eduardo dos Santos planned to siphon off $1.5 billion when he ran the oil-rich country’s sovereign wealth fund, the finance ministry said Monday. The figure is three times higher than an initial sum illegally transferred to a London bank. Jose Filomeno dos Santos is accused of “fraud, misappropriation of funds, money laundering and associating with criminals.” Nicknamed “Zenu”, Filomeno dos Santos was appointed to head the $5 billion oil-fuelled sovereign fund by his father in 2013 but then was sacked byRead More
Luanda (AFP) Tensions between Angola’s president and his long-serving predecessor have erupted into the open as an anti-corruption drive targets the former ruler’s family. President Joao Lourenco has pledged to crusade against entrenched state corruption and nepotism since taking over in September from Jose Eduardo dos Santos, who ruled Angola for 38 years. Battling graft is a cornerstone of Lourenco’s promised “economic miracle” that he hopes will halt the oil-dependent country’s economic slump caused by stubbornly low crude prices. A once-loyal minister under Dos Santos, Lourenco has purged state-run corporationsRead More
Luanda (AFP) The son of Angola’s former president Jose Eduardo dos Santos has been charged with fraud linked to a $500 million transfer executed when he ran the country’s sovereign wealth fund, prosecutors said Monday. Jose Filomeno dos Santos is accused of “fraud, misappropriation of funds, money laundering and associating with criminals,” deputy chief prosecutor Luis Benza Zanga told a media conference. Nicknamed “Zenu”, Filomeno dos Santos was appointed to head the $5 billion oil-fuelled sovereign fund by his father in 2013 but then was sacked by President Joao Lourenco,Read More
Luanda (AFP) Prominent Angolan human rights activist and journalist Rafael Marques de Morais appeared in court Monday on charges of insulting a public authority after questioning the integrity of a former attorney general. The charges relate to a story Marques, 46, wrote in 2016 about the country’s former attorney general’s purchase of rural land designated for urban development. Marques, who runs the news website Maka Angola, and Mariano Bras, another journalist who reproduced the article, face up to three years in jail. Marques’s lawyer Horacio Junjuvili sought to have theRead More
Luanda (AFP) Angola saw its first authorised anti-government protest in decades with about 10 people demonstrating Saturday in the capital against an amnesty those who have stashed vast wealth abroad. Despite the paltry turnout, the rally in the centre of Luanda was a milestone and hugely symbolic. Such an event would have been unthinkable during the regime of former president Jose Eduardo dos Santos who ruled the oil-rich country with an iron fist for 38 years until he stepped down late last year. Some of the demonstrators held up portraitsRead More
Luanda (AFP) Former Angolan leader Jose Eduardo dos Santos said Friday he will quit as head of the governing party by 2019 after the ruling MPLA denied tensions with his successor, President Joao Lourenco. Dos Santos ceded the presidency to his former defence minister Lourenco following the ruling MPLA’s victory in August elections but held on to the party’s top job. The 75-year-old veteran leader who ruled for nearly four decades is battling ill health and said that he would retire from politics entirely by April 2019 at the latest.Read More
Luanda (AFP) Heavy rains, filthy conditions, medicine shortages and endemic corruption have combined to make a lethal malarial cocktail for Angola. Since the start of the year more than 300,000 cases of the disease have been reported across the country, leading to at least a thousand deaths. The toll, say experts, is a clear sign of the poverty and failings of governance in a country which, paradoxically, is one of Africa’s top oil producers. “The number is frightening,” said Jose Antonio, the director of public health in Kilamba Kiaxi, aRead More
Luanda (AFP) Angolan prosecutors opened an investigation on Friday into possible corruption at the country’s state oil giant when it was run by former president Jose Eduardo dos Santos’ daughter Isabel. Investigators will probe “irregular financial transfers” reported by Sonangol’s new management, prosecutors said in a statement. Sonangol’s new chief executive Carlos Saturnino angrily criticised the financial management of his predecessor Isabel during a results briefing on Wednesday. “We started in our roles on November 16, 2017, and tonight we note that the former finance director ordered the transfer ofRead More
Luanda (AFP) Angolan President Joao Lourenco was elected five months ago promising an “economic miracle”. But the path to transforming the oil-dependent country’s economy will be long and difficult — as was highlighted by anger over the de facto de-valuation of the local currency. Since January, new central bank governor Jose de Lima Massano has been presiding over something of a fiscal revolution, weaning the local kwanza currency off its artificial peg to the dollar, and phasing in a floating exchange rate. The local unit has been fixed at aRead More
Luanda (AFP) The first major scalp claimed by Angola’s new president Joao Lourenco in his war on corruption and nepotism was that of his predecessor’s daughter, who was sacked as head of the state oil company. The next big name linked to former president Jose Eduardo dos Santos was that of his son, Jose Filomeno, who was removed from his post at the top of the African nation’s $5 billion sovereign wealth fund. Quick work for a president with barely 100 days on the job. Lourenco’s manoeuvering against the nepotisticalRead More