Tag: Archer Mangueira

Angola’s J-Lo Talks the Talk, Doesn’t Walk the Walk

On being sworn in as President of Angola last September, João Lourenço vowed he would crack down on the rampant corruption that flourished under his predecessor, José Eduardo dos Santos. He has, indeed, taken some steps towards honouring that promise. But in reality, those in power continue to benefit from self-awarded perks, favouritism and influence peddling while ignoring conflicts of interest. But is it all just a distraction? On February 12th, Finance Minister Archer Mangueira ordered the sale of five light aircraft owned by the Angolan state: three Beechcraft 1900s and two Twin Otters, as per his ministerial despatch 47/18. It orders the National Director of State Patrimony, Mr Valentim Joaquim Manuel, to draw up contracts for the sale of the aircraft with SJL-Aeronautica, EAPA and Air Jet. Imagine our surprise then to find out that SJL-Aeronautica was set up in 2010 by General Sequeira João Lourenço, the current President’s […]

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Angolan Central Bank US $500 Million Swindle Foiled

The latest episode in the long-running saga of the alleged plunder of Angola’s public coffers has just come to light. Thanks to the diligence of British financial watchdogs and a change of regime in Angola, what is alleged to have been an attempt by the former President’s son to divert US $500 million, with his father’s blessing, looks to have been halted at the eleventh hour. Full details of the alleged fraud have yet to be revealed, but information confirmed by separate sources indicates that the new Angolan President João Lourenço has taken steps to reclaim the funds which have been frozen pending the outcome of an international investigation. A spokesman for the UK’s National Crime Agency told us: “We can confirm that the NCA’s International Corruption Unit is investigating a case of potential fraud against the Angolan government.” The NCA spokesman said they could not provide any further details […]

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Sonangol on the Brink

Putting the President’s daughter in charge of Angola’s national oil company has been such a ‘good move’ that the company is now reported to be on the brink of bankruptcy. The ‘genius’ businesswoman and her cabal of Portuguese consultants have succeeded only in a level of mismanagement greater than ever before. And so it has come to pass that the state monopoly that controls Angola’s main source of income is now reduced to the role of beggar. Maka Angola is reliably informed that on May 17 Isabel dos Santos went to see the Finance Minister, Archer Mangueira, to request an injection of three billion dollars (!!) to rescue Sonangol from imminent bankruptcy. A source close to the Portuguese consultancy firm which has been the de facto administrator of Sonangol on behalf of Isabel dos Santos, told Maka Angola that the Minister had to inform the President of the Sonangol Board […]

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