Tag: Angolan Sovereign Wealth Fund

A London Law Firm Won’t Stop Us Exposing Those Who Swindle Angola

My job is to investigate and expose human rights abuses and large-scale corruption in Angola. It’s not just my job – I have dedicated my life to this fight for justice in my native land. Inevitably this makes me a target for harassment by the current regime and the judicial system it controls, such as the Criminal Investigation Service (Serviço de Investigação Criminal – SIC) and the Office of Attorney-General of the Republic (Procuradoria-Geral da República – PGR). These minor irritations are part and parcel of the kind of work done by social justice activists the world over. Abroad, in Western democracies such as Portugal, people are often surprised that the Angolan government, which has been repeatedly branded as a dictatorship, doesn’t use violence to the same extent as other dictatorial regimes to silence critics. Perhaps they are unaware that extrajudicial execution is a commonplace event in Angola. I am […]

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Stealing with Presidential Decrees

When Angola’s President decreed in 2012 that the north-western enclave of Cabinda should have a deep-water port, it was heralded as a private sector deal that wouldn’t cost the Angolan state a single cent. The estimated US $540 million construction costs would be funded by private investors and banks. For once, there was no Angolan public sector involvement contemplated. That proved to be a chimera. In fact, the entire Caio Port (Porto de Caio) concept seems to have been a vanity project involving the President’s son, José Filomeno dos Santos known as Zenú and his very close friend and financial mentor, Jean-Claude Bastos de Morais. And sadly, the project is bleeding millions upon millions of dollars from the Angolan Sovereign Wealth Fund controlled by Zenú. A very ‘private’ port The proposal for Cabinda’s deep water port at Caio was first announced in a 2012 presidential decree as a wholly private-sector […]

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Supersonic Nepotism: Illegalities at the Speed of Light

Angola’s President, José Eduardo dos Santos, has just appointed his daughter Isabel dos Santos as Chairman of the Board of Directors of the state oil giant, Sonangol.  He had already appointed her half-brother, José Filomeno dos Santos, back in 2012 as Chairman of the Board of the Angolan Sovereign Wealth Fund.  This means that the country’s sovereign fund and the state’s main source of income are now both in the hands of children of the President. In plain English, this is the very dictionary definition of nepotism: ‘the practice among those with power or influence of favouring relatives or friends, especially by giving them top jobs’.  No doubt there will be many analyses and critiques of Angola’s particular brand of nepotism but from the strictly legal point of view there is one indisputable conclusion to be drawn:  President dos Santos’s actions are unconstitutional and illegal. Unconstitutional and illegal The Angolan […]

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Angola’s Sovereign Wealth Fund – the US $5 billion logo

The Angolan Sovereign Wealth Fund (FSDEA) was launched in October to great fanfare, receiving global media coverage from the likes of the New York Times, CNN and Euromoney. Local and international journalists packed into the shiny new offices by Sagrada Família upmarket area in Luanda to admire the glass and steel spiral staircase, lacquered furniture and raw silk wallpaper. They were given stylish press packs featuring black and white photographs of smiling Angolan children and told how the FSDEA would change Angola for the better and preserve the country’s great oil wealth for the use of future generations. After a lavish lunch buffet complete with drinks served by a suited barman, there was a film shown by a South African production team who had collated clips of “ordinary” Angolans saying how much they loved their country, and a mumbled speech and Powerpoint presentation from Board Chairman Armando Manuel. In the […]

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