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Isabel dos Santos, Africa’s richest woman has proposed a merger between Portugal’s largest listed banks Millennium BCP and Banco BPI, a deal which could see Spain’s Caixabank SA to raise its bid for BPI. The deal if sealed could make the Angolan investor be the biggest Portugal lender and a shareholder.

She was recently ranked by Forbes as the Africa’s richest billionaire with a net worth of $3.3 billion.

There has been controversy surrounding Isabel’s riches with claims that her father transferred stakes in several Angolan companies to her, a claim that her representatives denied. Her investments are distributed in Angola and Portugal stretching from telecommunications, banking, oil and gas as well as broadcasting.