Angola’s state oil company to probe Isabel dos Santos

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Isabel dos Santos

Angola’s state oil company announced that it was launching an investigation into “possible misappropriation” of funds by former chief executive Isabel dos Santos, the daughter of former president Jose Eduardo dos Santos.

Isabel was appointed to the position by her father in 2016, but was replaced last month, just a few weeks after new president Joao Laurenco took office.

Local media have accused her of ordering suspect transfers and payments worth tens of millions of dollars, allegations she has flatly denied.

“We have established an internal commission of inquiry to investigate the information published,” AFP quotes Sonangol spokesman Mateus Benza to have said on Tuesday.

“We are verifying possible misappropriation, but I can’t yet confirm anything.”

Investigators are also probing a monthly payment that began when Isabel became the head of the state oil giant of 10 million euros to a Portuguese company in which she was the principal investor.

It was reported that the new head of Sonangol has written to his predecessor to demand explanations as well as alerting law enforcement agencies.

Isabel has however brushed the allegations aside, saying there is a “campaign of defamation” against her.

“This fake news… doesn’t deserve any credibility since their only goal is to cast doubt on the integrity of Isabel dos Santos,” she said in a tweet.

Dos Santos is ranked by Forbes as Africa’s richest woman.

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