Angolan billionaire Isabel dos Santos’ assets frozen by the country’s court are worth hundreds of millions of dollars
Isabel dos Santos, the eldest daughter of former Angolan president Jose Eduardo dos Santos, in aAfrica’s richest woman is in the crosshairs as the result of an Angolan court decision., the eldest daughter of Angola’s longtime former president, and her husband, Sindika Dokolo. The assets, which include a stake in Angolan mobile telecom firm Unitel and stakes in two Angolan banks, are worth more than $400 million,estimates. Enough to make a sizable dent in her $2.
The court order is part of an Angolan government crackdown on the family of the former president, Jose Eduardo dos Santos, who ruled Angola for nearly four decades until retiring in 2017. Later that year, new Angolan President Joao Lourenco dismissed Isabel dos Santos as the head of Sonangol, the state oil company.
The court order, issued on December 23, 2019, states that Exem Energy BV, an entity owned by Isabel dos Santos and Sindika Dokolo, had promised to repay at least $75 million it owes to Sonangol, but has failed to do so. The order also states that Isabel dos Santos, Sindika Dokolo and Mario Felipe Moreira Leite da Silva, chairman of Angolan bank Banco Fomento de Angola, caused the Angolan government losses of at least $1.14 billion.
In a statement, dos Santos said, “I fully condemn the political measure in question, which violates all prescribed law.” She also said that the judgment contained “a number of untruths” and that she would fight the decision “by using all the instruments of Angolan and international law at my disposal.”* Isabel dos Santos’ 25% stake in mobile telecom firm Unitel. Her stake is worth an estimated $250 million, according to* Her 42.
The recent court order from Angola looks like an attempt by the government to keep dos Santos’ assets in the country — and recoup some of the funds the court says that the state-owned oil company is owed.
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