Quantum Global angry over Mauritius freezing its funds after Angolan officials’ visit
Port Louis — Quantum Global, an investment firm through which Angola’s sovereign wealth fund invests much of its cash, demanded on Thursday that Mauritian authorities explain their decision to suspend its business licences on the island nation. Mauritius has frozen 25 bank accounts and suspended seven licences linked to Quantum Global following a visit by Angolan officials last week, according to a regulatory source. The source told Reuters on Wednesday that Mauritius had acted swiftly in collaboration with investigations by Angolan authorities to protect itself against potential "reputational risk". The source did not elaborate. "It is hard to defend ourselves against actions by the authorities when the rationale has not been made clear despite our repeated attempts to receive this information," Jean-Claude Bastos de Morais, founder and CEO of Zurich-headquartered Quantum Global, said in a statement. Bastos de Morais is a business partner of José Filomeno dos Santos, the son of Ang...
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