(2 minutes read)
· Angola’s President Joao Lourenço continues with his scathing attack on former president José Eduardo Dos Santos. Lourenco says that Angola lost US$24 billion dollars under the former administration of president José Eduardo dos Santos
· The allegation is that over half of US$13.5, were diverted through fraudulent contracts with state oil company Sonangol, one of Angola’s leading institutions. This works out double of the country’s foreign reserves
Angola’s President Joao Lourenço continues with his scathing attack on former president José Eduardo Dos Santos. Lourenco says that Angolalost US$24 billion dollars under the former administration of president José Eduardo dos Santos. The allegation is that over half of US$13.5, were diverted through fraudulent contracts with state oil company Sonangol, one of Angola’s leading institutions. This works out double of the country’s foreign reserves.
José Eduardo dos Santos stepped down after 37 years as the head of state. Dos Santos’ family, particularly former Sanangol president Isabel Dos Santos, has been targeted by the anti-corruption measures introduced in 2017 by the current incumbent. Isabel Dos Santos’s assets were seized after being named a suspect in a corruption investigation. She denies any wrongdoing and accuses Luanda of persecuting her. However, the Angolan authorities say that they had recovered over US$5bn in stolen assets. The current president has made fighting corruption one of his priorities. He has been investigating and prosecuting his predecessor’s family members for corruption and nepotism.
