Angola might have a new president but Isabel dos Santos is not going anywhere

godfred akoto

October 10, 2017 8:46 AM

Eduardo dos Santos and his family still control Angola

Africa’s richest woman Isabel dos Santos has moved quickly to solidify her role as head of the country’s state oil firm Sonangol.

Dos Santos was appointed to the role by her father, Eduardo,the long time president of the country but with a new president in charge, many had expected a new head to be announced.

Speaking in London at the FT Africa Summit, she revealed the reasons why there would be no change in leadership at the company.

“We are a company, so we are an enterprise. We are not part of government. Our posts are not ministerial posts ... we are not subject to the election.”

Dos Santos' assets in Angola include 25% of Unitel, the country's largest mobile phone network, and 42% of a bank, Banco BIC.

In Portugal she owns nearly 6% of oil and gas firm Galp Energia (alongside Portuguese billionaire Americo Amorim), and nearly 19% of Banco BPI, the country's fourth-largest bank She is also a controlling shareholder of Portuguese cable TV and telecom firm Nos SGPS.

godfred akoto