Skip to main content
Updated Feb 17, 2020

In response to a request by Angola for international assistance in helping the country fight corruption, Portugal has issued a freeze order on the bank accounts of Isabel dos Santos, the billionaire daughter of Angola’s former president Jose Eduardo dos Santos, who was in power for 38 years. This comes after her Angolan assets were frozen in December.

Angolan authorities are busy building a case against Isabel and her husband, Sindika Dokolo, for mismanaging state-owned enterprises and securing lucrative state contracts to amass billions, much of which they stowed in offshore accounts. 

Angolan president João Lourenço, who came into office in 2017, made a crackdown on corruption a key element of his election platform. One of the first decisions he took as president was to fire Isabel dos Santos from her position as head of the state oil company Sonangol.

The Portuguese freeze came a day after the Spanish lender Abanca Corporación Bancaria agreed to buy 95 percent of Lisbon-based lender EuroBic, in which dos Santos until recently held a 42.5 percent stake, for an undisclosed amount.


Daily Picks
Nov 27, 2022