Africa’s onetime wealthiest woman to return foreign company’s shares to Angola

An international arbitration court has decided that Isabel dos Santos, the daughter of Angola’s former president and Africa’s onetime wealthiest woman, must return to Angola her shares in Portugal’s Galp energy company worth 422 million euros ($500 million). Dos Santos is accused of siphoning billions of dollars from state-owned enterprises during the almost four-decade reign […]

Angola: Paris court orders Isabel dos Santos to pay $600m in damages to PT Ventures

Isabel dos Santos, billionaire daughter of Angola’s former President José Eduardo dos Santos has been charged by a court in France to pay damages worth over $600 million to PT Ventures, a company acquired by the Angolan oil company, Sonangol. The International Chamber of Commerce (ICC) earlier in February 2019 awarded an indemnity of $339.4 […]

Angola sentences ex-president’s billionaire son to five years in prison for fraud

Son of former Angolan president who ruled the country for 38 years, has been sentenced on Friday by Angola’s Supreme Court in Luanda for a multi-billion dollar embezzlement scheme. Jose Filomeno dos Santos Commonly, know as “Zenu,” was charged in December after trying to transfer $1.5 billion into a private bank account in Swiss from […]

Win-win: Chad repaying $100m debt to Angola with cattle

News coming in indicates that, Chad has started paying back a debt amount of $100m the nation owed Angola back in 2017. This amount was given to Chad to help them cope with their economic difficulties. The initial agreement was a cash transaction but the two parties decided on a rather unusual payment method. Chad, […]

Isabel dos Santos Africa’s richest woman wants to run for president in Angola

Isabel dos Santos, daughter of former Angola president Eduardo dos Santos has revealed she is running for president of the country in the coming presidential elections. The Angolan government has levied corruption charges on, Isabel and also had her assets frozen, but the former chair of state oil company Sonangol does not seem to be […]

Daughter of former Angolan president has her assets frozen by the new gov’t

Assets of the former Angolan president’s daughter, Isabel dos Santos has been frozen by the new government. This is part of a corruption probe as shown by a copy of the document with the order. Isabel was not the only one to be affected however, her father former president, Eduardo dos Santos and her husband […]