Dos Santos probed by state oil company
Publish date: 08 January 2018
Issue Number: 756
Diary: IBA Legalbrief Africa
Angola’s state oil company has announced an investigation into ‘possible misappropriation’ of funds by Isabel dos Santos, the daughter of the former President, during her time as the company’s CEO. A Mail & Guardian Online report notes several Angolan media outfits have accused Dos Santos of ordering suspect transfers and payments worth tens of millions of dollars. Appointed head of Sonangol by her father Jose Eduardo dos Santos in 2016, Dos Santos was replaced by new President Joao Lourenco in November. ‘We have established an internal commission of inquiry to investigate the information published,’ Sonangol spokesperson Mateus Benza is quoted in the report as saying. Investigators are also probing a monthly payment that began when Isabel became the head of the state oil giant of almost $12m to a Portuguese company in which she was the principal investor. Dos Santos has hit back alleging a ‘campaign of defamation’. ‘This fake news ... doesn’t deserve any credibility since their only goal is to cast doubt on the integrity of Isabel dos Santos,’ she said in a tweet.