Tag: Paris

Legal Jeopardy for the Angolan ‘Princess’

The woman who once styled herself as Africa’s first female billionaire, controlling a complex empire of companies registered around the world, is discovering that all those overseas registrations make her vulnerable to legal action in multiple jurisdictions. As reported extensively by Maka Angola over many years, evidence shows the Dos Santos family and associates customarily registered companies overseas (often in tax havens known for lax supervision) using them as vehicles for the sole purpose of transferring large sums of money between multiple companies owned or controlled by the Dos Santos cohort. International experts say such transactions between shell companies are typical of large-scale embezzlement and money-laundering. One particular financial manoeuvre involving nearly US $500 million transferred through a Dutch-registered subsidiary has now placed Isabel dos Santos in the position of having to defend herself against a lawsuit in the Netherlands in a case that has also been the subject of […]

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Isabel dos Santos: The Fall of Africa’s Richest Woman

Just think for a minute. In a two-year span, a father gave his daughter, among several contracts, four that were worth over US $22 billion. The father is then President José Eduardo dos Santos, and the daughter is Isabel, Africa’s richest woman. These were the golden days of the presidential family’s capture of Angola. Period. In the past month, with a stroke of a pen, General João Lourenço has annulled the four egregious contracts. The former “princess” is crying foul, and is threatening to sue the Angolan state however, the state is calling out her bluff. Her fortune is about to tumble like a house of cards, just as her father’s power fell flat once he left office after 38 years. Through her father’s presidential decrees, Isabel built her fortune. Now, ironically, the man her father personally chose to replace him is first and foremost taking away the family’s fortunes […]

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Executive Jets for Manuel Vicente’s Wine

Carlos Duarte: The vice-presidential candidate, Manuel Vicente has expensive taste in fine wines and cognacs. From time to time, Manuel Vicente sends an executive jet to France and Portugal (the luxurious Falcon-900 or the sophisticated Falcon X-7) for the exclusive transportation of wine and cognac for his personal consumption. The flights are operated by VipAir, a company part owned by Sonangol, and no passengers are allowed to travel on those flights. Some recent examples highlight how the current minister of State for Economic Coordination and probable successor to José Eduardo dos Santos at the presidency of the republic and the MPLA, is completely indifferent to the living conditions of the majority of Angolan citizens, who don’t even have access to clean drinking water. In Paris, the crew of the Falcon-900, on a mission to collect wine and cognac for Manuel Vicente, was not allowed to transport a second VipAir crew […]

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