Sums Don’t Add up for Angolan Central Bank

Angola’s central bank, the Banco Nacional de Angola (BNA) has failed to produce its accounts for the second year running, with the current BNA Governor, José de Lima Massano, forced to issue a written explanation to the Angolan President. In so doing, Massano has brought to light a convoluted financial arrangement, sanctioned by one of his predecessors, in which the BNA unlawfully acted as guarantor for a US $200 million foreign loan for a private bank, the Banco de Negócios Internacional (BNI). Angola’s Banking Laws authorize the BNA to intervene to help a private bank only as a lender of last resort to inject liquidity during a temporary crisis, and only on condition that the private bank has sufficient collateral in non-liquid assets. The BNI case did not meet the criteria on any count. It is further alleged that the loan was obtained under false pretences, and that the BNI […]

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Rafael Marques Receives the Press Freedom Award

(Acceptance speech for the International Press Institute’s World Press Freedom Hero Award received on June 22 in Abuja, Nigeria.)   When the news of this award reached Angola, many of my countrymen and women posted images of me as Wakanda’s Black Panther on their social media. This award is not for me. It mirrors the hopes of many Angolans that changes will not come simply from political decision-making, but from a growing awareness amongst and stand from civil society. Looting of the state, human rights abuses, corruption and political contempt for the suffering of the people are the main ills of the Angolan society where the powerful take away what rightfully belongs to everyone and trample on others’ lives. The investigative journalism I’ve engaged in through Maka Angola in a hostile environment has spearheaded the renewal of hopes that among ordinary Angolans a force for good can be reckoned with. […]

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The Angolan Sovereign Fund and the Arch-Fraudster

When historians come to write the unexpurgated story of corruption in Angola, the chapter on how dual Swiss-Angolan national Jean-Claude Bastos de Morais enriched himself from the Angolan Sovereign Fund is sure to be a page-turner. Bastos de Morais is the silent partner of the former Sovereign Fund’s chairman, José Filomeno dos Santos (Zenú), the hitherto-untouchable son of former President José Eduardo dos Santos who turned Angola into a kleptocracy during 38 years in power. The US $5 billion Sovereign Fund was created to stimulate economic diversity – a hedge against the future when Angola’s rich oil reserves run out. Zenú and his buddy Jean-Claude are alleged to have treated the Sovereign Fund as their personal piggy bank and both face charges of fraud and money-laundering. Zenú’s father used also set up the Angolan Venture Capital Fund (in Portuguese: Fundo Activo de Capital de Risco Angolano, FACRA) in 2012. Under […]

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Prosecuting the Messenger, Absolving the Corrupt

Angola’s public prosecutor, Pedro Pederneira, calls for my conviction for the crimes of insulting a public authority and speaking against the state security (June 15). He wants me in jail for writing that former President José Eduardo dos Santos protected the corrupt. This is the crime against the state security. The public prosecution office recently charged Dos Santos’ son, José Filomeno dos Santos, and his accomplices for the looting of US $500 million from Angola’s central bank. The looting had been authorized by the father weeks before he stepped down in September last year. Last January, I was the very first to expose the whole scam at home. So, where is the crime against the state security? I supplied the court with plenty of evidence on past cases in which Mr. Dos Santos engaged and protected the corrupt, and the then-attorney general never replied to many of my formal complaints […]

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Lourenço’s “Flying Palace” and a Coconut Head

Following his 11-day European tour, Angolan president, João Lourenço, arrived home with a staggering flight bill. He spent several million dollars on a US $74,000 an hour luxurious “flying palace” that transported him the whole time, while preaching anti-corruption at home. The distinguished Ghanaian economist and activist, George Ayittey, has a name for this kind of a leader: a coconut head. For Ayittey, a coconut head is a leader, who, rather than run his country ruins it through folly and depraved indifference to the suffering of ordinary people. Many Angolans saw the social media images of the world’s only private US $350 million Boeing Dreamliner 787 VVIP ostentatiousness. Owned by the Chinese  HNA Group, this plane is the world’s largest luxury business charter. Few wanted to match it with the plane that took President Lourenço to state visits in France and Belgium, as well as a private visit to Spain. […]

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