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  • Updated: December 31, 2019

Corruption: Angola's Ex-President Daughter's Assets Frozen

Corruption: Angola's Ex-President Daughter's  Assets Frozen

The assets of Isabel dos Santos, daughter of the former president of Angola, Eduardo dos Santos, have been freed, following an order by a court in Angola, this is according to Angop, Angola's state news agency.

In the country's move against corruption, a probe into the business woman is one of the latest in high-profile cases in the country.

The freezing of her assets comes after an injunction filed by the state seeking to repossess over $1 billion of funds that are owed to the state by Isabel and her business partners.

But the businesswoman denies the claim, as she took to her Twitter page on Monday to say, “I would like to leave a message of tranquility and confidence to my teams.

“We will continue, every day, in every business, doing our best and fighting for what I believe in for Angola.

“The road is long, the truth will prevail. United we stand stronger.”

Isabel is on the list of Forbes' richest women in Africa, sitting atop the list with a $2.2 billion net worth. She is the chairperson of the state oil company, Sonangol, before she was fired in 2017 by current president, Joao Lourenco who is doubling down on corruption that has eaten deep into the core of the country's institutions.

According to Angop, “The ruling is the result of an injunction filed by the Angolan state in which it requests the payment of USD 1,136,996,825.56.” 

It was also reported that the court had ordered Isabel's accounts in Angola frozen, her stake in Unitel a telecommunications company and Fomento de Angola bank and her other assets also frozen.

The investigations into Isabel came after her replacement as chairperson at Sonangol gave a tip off regarding Isabel's authorizing of offshore payments just days after she was fired from the company.

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