By Africanews Angolan president João Lourenço addressed the European Parliament in Strasbourg on Wednesday. It was the first time an Angolan head of state spoke in the Chamber before Members of the EU Parliament. Maintaining democratic institutions, investing in basic care, fighting corruption and opening up to foreign investment dominated the president’s speech. “Children of…
By Stephen Eisenhammer LUANDA (Reuters) – Angola’s sovereign wealth fund has applied to a UK court to order banks to reveal information, another move in its dispute with its former boss, the son of long-serving ex-leader Jose Eduardo dos Santos, and the asset managers hired under him. President Joao Lourenco, who took over when dos…
chinaafricaproject.comchinaafricaproject.com Photo By Yinka Adegoke, Quartz Africa editor The Angolan newspaper Expansão had an intriguing front page cover this week. It declared, “Every Angolan owes $745 to China.” It also listed debt to other countries, but debt to China was more than seven times what’s owed to the next creditor, Israel. By some estimates Angola…
Port Louis (Reuters) – Mauritius has frozen bank accounts and suspended business licenses linked to Quantum Global Investment Management, a firm through which Angola’s sovereign wealth fund invests much of its cash, according to a court document and a regulatory source. Quantum Global, which said it was cooperating with authorities, is run by Jean-Claude Bastos…
BY 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…
LUANDA (Reuters) – The son of Angola’s ex-president, José Filomeno dos Santos, has been charged with fraud relating to a $500 million transaction out of an account belonging to the central bank, the prosecutor general’s office said on Monday. Dos Santos is the highest profile figure to be charged since President Joao Lourenco succeeded former…
By 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…
By Eugen Iladi A corruption trial against jailed former prosecutor Orlando Figueira that started on January 22 in Lisbon, Portugal, has deep international ramifications. The man accused of bribing Figueira to quash a 2013 investigation into the source of funds for acquiring private luxury residences in Portugal is Manuel Vicente, a former vice president of…
By VOA Angola’s new president, João Lourenço, has been in the news since taking office four months ago. Lourenço has made a number of moves, such as dismissing high-level officials. He says the moves are part of his campaign promise to fight corruption and rebuild the country’s economy. In December, he removed Isabel dos Santos,…
By Fox News LISBON, Portugal – Angola’s former vice president has failed to appear at a Portuguese court where he was scheduled to stand trial for corruption. Portuguese prosecutors accuse Manuel Vicente, the African country’s former deputy leader and one-time head of national oil company Sonangol, of corruption, money-laundering and forgery. They allege he paid…
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