bankruptcy

Lifelong Immunity from Prosecution for the President

26 de June de 2017 D. Quaresma dos Santos

It is right and proper that anyone who has served as head of state or government should be accorded due honors upon exiting the job. The peaceful transition of power is a cornerstone of democracy and those who have reached the pinnacle and who willingly step aside when their time is up, are rightfully guaranteed some special treatment for the rest of their days. It’s a mark of respect for their service. With the prospect of a voluntary exit for José Eduardo dos Santos, who has held power in Angola for an astonishing 37 years, few would be so churlish as to deny the man who likes to call himself “the Architect of Peace” the consolations of orderly retirement. What is customary around the world? No doubt his name will emblazon important civic works. Perhaps he is granted an annual pension and a security detail for life. Perhaps the state […]

Sonangol on the Brink

1 de June de 2017 Rafael Marques de Morais

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 […]