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 […]

Read more

All the President’s Children

Are you suffering from corruption fatigue? Yes, it gets to us all. There is just so much of it. Everywhere. Shameless, unethical, immoral, illegal, self-serving behavior is rampant. From the USA to North Korea, it seems few countries are immune to the self-enriching predations of the “one-percenters”. So how should we react to the news that the jobless, student, twenty-something year-old child of an ageing African dictator threw down €500,000 on a charity bid just so he could be photographed alongside some Hollywood stars like Will Smith? Before you yawn and turn the page, consider this. While this pampered princeling was quaffing champagne at the AMFAR gala in Cannes, dozens of his fellow countrymen of all ages were dying unnecessarily for lack of the most basic medicine and medical equipment. That’s because his country’s oil wealth has been siphoned off year after year, leaving little in the state budget for […]

Read more

Dams for the Damned

When China and Angola signed a US $4.5 billion financing agreement last year to fund the construction of a dam and hydro-electric power station at Caculo Cabaça in Kwanza-Norte province, did the Chinese realize this project would be for the benefit of the Angolan President’s daughter? The loan from the Industrial and Commercial Bank of China (ICBC), is meant to pay for the services of the consortium selected to build the hydro-electric dam. But the backstory reveals, yet again, how President José Eduardo dos Santos uses his presidential decrees and orders to enrich his own family. Evidence supplied to Maka Angola shows that Isabel dos Santos will be a major beneficiary of the deal signed on her daddy’s behalf by Finance Minister Archer Mangueira, with all concerned apparently unaware of procedures required by law (and followed by the rest of the world) to obtain tenders for major publics works projects. […]

Read more

Isabel dos Santos and the Right of Reply

Isabel dos Santos, self-described ‘African billionaire businesswoman’ and head of the Angolan national oil company, Sonangol, (appointed by her father, the President of Angola, José Eduardo dos Santos) was clearly rattled by the report published here on Maka Angola last week, entitled ‘Sonangol’s Slush Fund Salaries’ and has sent an official response. Maka Angola is delighted to afford the Sonangol President the right of reply. Sonangol’s ‘Official Reaction’ states (without offering proof) that the report was incorrect. And yet, instead of supplying alternative data, the response serves to confirm the inside information supplied to Maka Angola. (1) Sonangol’s whistleblowers reported elevated salaries for the board. And outrageous expenses and consultancy fees for a cabal of Portuguese nationals, effected overseas to avoid paying Angolan tax. The President’s daughter confirms that fees for the board of directors were raised to keep pace with inflation – in effect at the very least a […]

Read more

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 […]

Read more

Portuguese Corruption Trial Snares Angola’s Vice President

The net is closing around Angola’s Vice-President, Manuel Vicente, the former CEO of the country’s oil giant Sonangol and a man long accused of being a conduit for the diversion of oil revenues into international business deals linked to the Angolan President, his family and close associates. He faces charges in connection with the alleged suborning of a Portuguese prosecutor. Orlando Figueira, in 2013 to set aside an investigation into money-laundering involving the purchase of a US $4 million luxury apartment in Lisbon. Both the prosecutor and Vicente’s lawyer, Paulo Blanco, have also been indicted on charges of violating court confidentiality regarding the investigation into the Angolan subsidiary (BESA) of the Banco de Espirito Santo (BES), which collapsed in 2014. If proven, then by suborning the prosecutor, the Angolans succeeded in interfering with the course of justice in Portugal to prevent any prosecution in the BESA investigation which, by unravelling […]

Read more

Time to Say Goodbye

Thank you, José Eduardo dos Santos, for your decision to step down as President of Angola after 38 years. It’s a decision that gives us all hope for the future. Only Robert Mugabe and Teodoro Obiang Nguema remain of the veteran African tyrants who for so long have choked the life out of their countries. Could your decision inspire them to follow suit and arrange a peaceful transition of power? Naturally, there’s a great deal of speculation as to why you have finally come to the realization that it was time to hand the baton to another. Some say it’s because of poor health. Others say your authority had been undermined by the increasing number of corruption scandals attached to your government. Whatever the reason, the decision is sound and must be as great a relief to you as it is to the Angolan people. Before you go, it’s probably […]

Read more

Band-Aid Needed for Angola’s Red Cross

Maka Angola has learned that the Angolan Red Cross is in considerable disarray. Numerous sources have come forward to allege that the charity is riven by mismanagement and corruption. Allegations of theft, embezzlement and diversion of funds are ignored, while provincial offices and staff are starved of resources and salaries go unpaid. The President of the Angolan Red Cross (Cruz Vermelha Angolana, CVA) is Isabel dos Santos, daughter of Angola’s President, José Eduardo dos Santos, and a reputed billionaire. When installed as CVA President back in 2006, to lead an organization with 140 staff, she announced a commitment to good governance. “The limited resources available to us to tackle such an immense task require very careful management, and oblige us to make the best of what we have, to manage with the utmost rigor and to adopt the principles of good governance. It is important that this administration should be […]

Read more

How Much Longer, Attorney General?

How much longer, João Maria, how much longer do we have to put up with you? The Attorney General of the Republic of Angola parades through the streets of Luanda with not an ounce of shame at the conflict of interest arising from holding public office while profiting from business dealings that have come his way only because of his position. What legal and moral conflicts? He is not just a shareholder in different companies, he has also served as a manager and legal consultant (e.g. in Prestcom) in spite of the constitutional prohibition on second jobs for office-holders. Additionally, General João Maria de Sousa has neglected the fundamental and basic premise of his job: to prosecute breaches of the law. He fails to investigate legal transgressions by members of the government, turns a blind eye to incontrovertible evidence of corruption, and sits on his hands when presented with egregious […]

Read more

Isabel dos Santos’ Missing Declaration of Assets

On June 2, 2016 President José Eduardo dos Santos appointed his daughter Isabel dos Santos to the two most powerful roles in the state oil company, Sonangol: by decree he named her Chairman of the Board of Directors and Non-Executive Administrator. Notwithstanding the case pending before the Supreme Court to obtain an injunction to stay her appointment, Isabel – like any other administrator – is required by law to submit a declaration of income and assets to the Attorney General within 30 days of taking office. And yet a source within the Attorney General’s office tells us that five months later neither Isabel dos Santos nor any other member of the board of directors has submitted these legal requirements. Maka Angola contacted the office of the Attorney General to confirm this matter but he declined to comment. To be clear: the law which obliges Isabel dos Santos to submit a […]

Read more
1 2 3