The ‘richest woman in Africa’ has assets frozen
- Angola’s President Joao Lourenco wants to recover assets stolen under predecessor
- Asset freeze affects bank accounts, Isabel dos Santos stake in telecoms firm Unitel
Angola has frozen the assets of Isabel dos Santos, the billionaire daughter of the country’s previous leader, in a sign that President Joao Lourenco is taking a tougher line against the former first family.
Since ending Jose Eduardo dos Santos’ nearly 40-year grip on power in 2017, Lourenço has been trying to erase the influence of his predecessor and reform Sub-Saharan Africa’s third-largest economy. But Lourenco is under pressure as the economy continues to contract under his watch.
Isabel dos Santos said the asset freeze was “politically motivated” and that the case against her had been held in total secrecy.
“The judgment contains statements which are completely untrue,” she said in a statement. She later said by phone that she had never been summoned or questioned by an Angolan court or prosecutors.
The move against her comes as the ex-president’s son, Jose Filomeno de Sousa, faces corruption charges, accused of helping transfer US$500 million from the sovereign wealth fund.
