By Henrique Almeida | Bloomberg Angolan President Joao Lourenco pledged Thursday to continue his fight against “the cancer of corruption” and roll back the African nation’s oil dependency by investing in other sectors of the economy to bolster growth. Battling graft has been a cornerstone of what Lourenco has called the “new Angola” since taking…

AFP•September 24, 2018 Luanda (AFP) – The son of Angola’s ex-president Jose Eduardo dos Santos was remanded in custody in a $1.5-billion corruption case, a state prosecutor said Monday. “Given the complexity and seriousness of the deeds and in order to guarantee an effective enquiry… the state prosecution service decided to apply a preventive detention…

LUANDA (Reuters) – The daughter of a former president of Angola failed to respond to her first summons from state prosecutors to answer questions about her time running Sonangol, the state oil company, Angola’s state news agency reported. Isabel dos Santos is allowed to provide reasons for not appearing three times, state news agency Angop…

By REUTERS ZURICH, July 13 (Reuters) – Swiss authorities have released around $60 million of funds seized in an investigation into the suspected laundering of money diverted from Angola’s sovereign wealth fund and its central bank, federal prosecutors said on Friday. Switzerland’s Office of the Attorney General (OAG) opened criminal proceedings in April in response…

By Swissinfo.ch Senior justice ministry officials from Switzerland and Angola have discussed closer cooperation in a major international case of suspected corruption. The Swiss authorities have blocked around $150 million (CHF150 million) in assets held by the Angolan National Bank and the Angolan sovereign wealth fund amid ongoing criminal proceedings involving an Angolan-Swiss businessman, Jean-Claude…

By Africanews Angolan president João Lourenço addressed the European Parliament in Strasbourg on Wednesday. It was the first time an Angolan head of state spoke in the Chamber before Members of the EU Parliament. Maintaining democratic institutions, investing in basic care, fighting corruption and opening up to foreign investment dominated the president’s speech. “Children of…

By Stephen Eisenhammer LUANDA (Reuters) – Angola’s sovereign wealth fund has applied to a UK court to order banks to reveal information, another move in its dispute with its former boss, the son of long-serving ex-leader Jose Eduardo dos Santos, and the asset managers hired under him. President Joao Lourenco, who took over when dos…

chinaafricaproject.comchinaafricaproject.com Photo By Yinka Adegoke, Quartz Africa editor The Angolan newspaper Expansão had an intriguing front page cover this week. It declared, “Every Angolan owes $745 to China.” It also listed debt to other countries, but debt to China was more than seven times what’s owed to the next creditor, Israel. By some estimates Angola…

Port Louis (Reuters) – Mauritius has frozen bank accounts and suspended business licenses linked to Quantum Global Investment Management, a firm through which Angola’s sovereign wealth fund invests much of its cash, according to a court document and a regulatory source. Quantum Global, which said it was cooperating with authorities, is run by Jean-Claude Bastos…

BY AFP The son of Angola’s former president Jose Eduardo dos Santos planned to siphon off $1.5 billion when he ran the oil-rich country’s sovereign wealth fund, the finance ministry said Monday. The figure is three times higher than an initial sum illegally transferred to a London bank. Jose Filomeno dos Santos is accused of…

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