Isabel dos Santos: The fall of Africa's richest woman
'In the past month, with a stroke of a pen, General João Lourenço has annulled the four egregious contracts. The former “princess” is crying foul'
Just think for a minute. In a two-year span, a father gave his daughter, among several contracts, four that were worth over US $22 billion. The father is then President José Eduardo dos Santos, and the daughter is Isabel, Africa’s richest woman. These were the golden days of the presidential family’s capture of Angola. Period. In the past month, with a stroke of a pen, General João Lourenço has annulled the four egregious contracts. The former “princess” is crying foul, and is threatening to sue the Angolan state however, the state is calling out her bluff. Her fortune is about to tumble like a house of cards, just as her father’s power fell flat once he left office after 38 years.
Through her father’s presidential decrees, Isabel built her fortune. Now, ironically, the man her father personally chose to replace him is first and foremost taking away the family’s fortunes that are tied with the state, thus recapturing it from their hands. Let us just review these four contracts...