Tag: Welwitschea José dos Santos

Sums Don’t Add up for Angolan Central Bank

Angola’s central bank, the Banco Nacional de Angola (BNA) has failed to produce its accounts for the second year running, with the current BNA Governor, José de Lima Massano, forced to issue a written explanation to the Angolan President. In so doing, Massano has brought to light a convoluted financial arrangement, sanctioned by one of his predecessors, in which the BNA unlawfully acted as guarantor for a US $200 million foreign loan for a private bank, the Banco de Negócios Internacional (BNI). Angola’s Banking Laws authorize the BNA to intervene to help a private bank only as a lender of last resort to inject liquidity during a temporary crisis, and only on condition that the private bank has sufficient collateral in non-liquid assets. The BNI case did not meet the criteria on any count. It is further alleged that the loan was obtained under false pretences, and that the BNI […]

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The Tyrant’s Dilemma: Stay? No, Please Don’t

He promised he would step down. But the campaign has already begun to re-elect Angola’s President for the past 37 years. “Comrade President, please continue guiding the destiny of our country, asks the nation.” That’s the slogan plastered across the picture of a smiling José Eduardo dos Santos that has appeared on giant billboards in strategic locations across the capital, Luanda, in the past week. It’s all part of a public relations strategy aimed at persuading both Angola and the rest of the world that the increasingly tyrannical MPLA leader really ought to stay in power. Many Angolans were nourishing the faint hope that Dos Santos might be honorable and dignified enough to keep his word that he would voluntarily and peacefully retire from political life in 2018 (by which time he would have spent 39 years as President of Angola). Clearly they were deluded if they thought that a […]

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Tchizé dos Santos: Diamonds are a Girl’s Best Friend

On 5 November 2010 the president of the Republic of Angola, José Eduardo dos Santos, authorised the minister of Mining and Industry to extend the terms of a diamond mining concession in Lunda-Norte province, primarily to the benefit of his daughter Welwitschea José dos Santos, usually known as ‘Tchizé’. Presidential Decree 296/10 of 2 December 2010 ordered a two-year extension to Projecto Muanga’s Licence for Prospecting, Research and Identification for Kimberlite diamonds, in Lunda-Norte province. President dos Santos initially authorised the project on 14 July 2005 as a partnership between the state diamond company Endiama (51 per cent), Sociedade de Desenvolvimento Mineiro – SDM (20 per cent), Odebrecht (19 per cent) and Di Oro (10 per cent). SDM is a joint venture between Endiama and Odebrecht, a Brazilian multinational. Di Oro – Sociedade de Negócios, established in 2003, is owned entirely by Tchizé dos Santos (73.34 per cent), her husband […]

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