Angola authorities have frozen the assets and bank accounts of Isabel dos Santos, the billionaire daughter of former president Jose Eduardo dos Santos, reported Reuters. The move seems to be in line with President Joao Lourenço’s tough stance against corruption.
The former President Santos’s 40-year rule ended in 2017. During his long tenure as the president, his children dominated the economy of Africa’s second-biggest oil producer. But since his term ended, Lourenço and his government have been trying to reduce the influence of the former first family, recover lost assets and privatize state firms.
The government is seeking to recover $1bn (£760m) owed by Isabel dos Santos and her associates. Described as Africa’s wealthiest woman, Ms. Santos is widely estimated to have a fortune of more than $2 billion. The 46-year-old has repeatedly denied wrongdoing during her father’s term in office.
Ms. Santos currently lives abroad, saying she moved from Angola because her life had been threatened. She runs a huge business empire with stakes in companies in Angola and Portugal, where she has shares in cable television firm Nos SGPS. She chaired the state oil company Sonangol before Lourenço sacked her after he came to power.
The court ordered the freezing of Ms. Santos’ Angolan bank accounts and the seizure of her stake in local companies, including telecoms giant Unitel and bank Fomento de Angola (BFA).
According to government lawyers, Ms. Santos and her husband, Sindika Dokolo, did not return the state funds and sought to send money abroad.
Santos said the asset freeze was politically motivated.
“The judgment contains statements which are completely untrue,” she said in a statement.
The former president’s son, José Filomeno dos Santos, is currently on trial in Angola on charges of corruption. He and his co-accused have been accused of helping spirit $500m out of the country during his time as head of Angola’s Sovereign Wealth Fund.
