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Tag: Angola

What was Discussed by Heads of State at Regional Virtual Summit?

What was Discussed by Heads of State at Regional Virtual Summit?

FEATURED, NEWS, Politics
Heads of State from Rwanda, DR Congo, Uganda and Angola on Wednesday October 7, held a regional virtual summit to discuss peace, security, diplomatic and political relations, among others. The summit which was hosted by President Félix Tshisekedi of DR Congo was attended by President Paul Kagame, João Lourenço of Angola and Yoweri Museveni of Uganda. According to a post-summit communique, the summit offered the Heads of State the opportunity to discuss subjects of common interest seeking to strengthen relations and create stability in the Great Lakes sub-region. Among the key subjects that were discussed at the summit include: 1.   The security situation in the Great Lakes sub-region The Heads of State of the four countries reviewed t...
Angola sentences ex-president’s son to five-year jail for fraud

Angola sentences ex-president’s son to five-year jail for fraud

FEATURED, NEWS, Politics
Jose Filomeno dos Santos was accused of embezzling $1.5bn from national sovereign wealth fund he oversaw for five years. Angola's Supreme Court has handed a five-year jail sentence to Jose Filomeno dos Santos, the son of the oil-rich country's former president, for fraud when he headed the national sovereign wealth fund. Dos Santos, 42, was summoned before the court in December over allegations he tried to embezzle up to $1.5 bn from the sovereign wealth fund, which he oversaw from 2013 to 2018. Nicknamed "Zenu", dos Santos, son of ex-President Jose Eduardo dos Santos, was charged with stealing $500m from the fund and transferring it to a Swiss bank account. "For the crime of fraud ... and for the crime of peddling influence ... the legal cumulus condemns him to a single ...
Angola Recovers USD5Bn Assets Stolen By Gov’t Officials

Angola Recovers USD5Bn Assets Stolen By Gov’t Officials

FEATURED, NEWS
By Keefa Nuwahereza Whereas several African leaders are known to swim in wealth looted from their poor taxyers, Angola is not about to accept that. The latest we have is that Angola’s Justice Minister Francisco Queiroz has said the country has so far this year recovered more than five billion dollars stolen from state coffers, both at home and abroad. The money, including three billion dollars stolen from the sovereign wealth fund, had been siphoned off through corruption and money-laundering, state news agency ANGOP on Monday quoted Queiroz as telling an international conference in Abu Dhabi. Queiroz did not give specific details about how the money was stolen. “We have argued insistently that these important resources should be returned unconditionally to the countri...
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