Sonangol’s Slush-Fund Salary Payments

Concerns over the mal-administration of the Angolan oil giant, Sonangol, continue to multiply, as the country’s prime source of foreign income haemorrhages millions of dollars on foreign (mainly Portuguese) ‘consultants’ close to the President’s daughter while defaulting on essential payments. Isabel dos Santos, appointed by her father to run Sonangol last June, maintains the PR fiction that her objectives are to “raise transparency” and “improve management practise” at the state-owned petroleum giant. Why then does the lady who likes to call herself “Africa’s first female billionaire” insist on secrecy over the remuneration of her board and the more than 60 Portuguese consultants she has hired? And why are these foreign consultants working inside Angola on tourist visas? Insiders say Isabel’s board and administration are not paid according to the agreed salary scale at Sonangol and so are not on the official payroll. Instead, their elevated payments come directly from a […]

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