Angolan woman billionaire battles $736mn asset freeze, alleges political persecution
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According to Reuters, Dos Santos, Africa's first female billionaire and daughter of former President Jose Eduardo dos Santos, has faced longstanding corruption allegations in Angola. She rejects the charges, asserting that they are part of a protracted political vendetta, resulting in the freezing or seizure of her assets in Angola and Portugal.
According to Reuters, Dos Santos, Africa's first female billionaire and daughter of former President Jose Eduardo dos Santos, has faced longstanding corruption allegations in Angola. She rejects the charges, asserting that they are part of a protracted political vendetta, resulting in the freezing or seizure of her assets in Angola and Portugal.
The legal battle centres on loans made by Angolan telecoms operator Unitel to Dutch company Unitel International Holdings (UIH) in 2012 and 2013, during dos Santos' tenure as a Unitel director. Dos Santos contends that Unitel is complicit in Angola's unlawful seizure of UIH's assets, leading to the outstanding debt.
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Dos Santos accuses Unitel of playing a role in the inability of UIH to repay the loans and frames the case as part of a broader political struggle. Unitel disputes dos Santos' narrative, stating that she is attempting to turn the legal proceedings into "another battle in a PR war against her father's successor", Joao Lourenco.
The ongoing legal confrontation sheds light on dos Santos' wealth accumulation, characterised by Unitel as a "classic tale of kleptocracy (and) corruption". The telecoms company is seeking a global freezing order to prevent dos Santos from moving her assets out of its reach.
In the courtroom, dos Santos' lawyer, Richard Hill, asserts that Unitel's application is part of a "politically motivated campaign by the Angolan state”. He challenges the legitimacy of the Angolan freezing order, alleging that it was obtained with "fabricated evidence, which included a forged copy of her passport featuring the signature of Bruce Lee."
The legal proceedings are unfolding amid broader geopolitical dynamics, with dos Santos framing herself as a victim of political persecution. The hearing of Unitel's freezing order application is set to conclude on Thursday, and a ruling is expected at a later date, bringing further clarity to this high-stakes legal battle.
(With inputs from Reuters)
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