Isabel dos Santos, once hailed as Africa’s first female billionaire, was labeled a “notorious thief” by the British government last month and has fiercely opposed international corruption investigations and sanctions against her. are.
Dos Santos, the daughter of former Angolan president José Eduardo dos Santos, told the BBC this week that the sanctions imposed by Britain last month were part of a “politically motivated” plot by the Angolan government against her and her family. He said it was.
Foreign Secretary David Lamy said Britain’s sanctions were part of a campaign to crack down on “dirty money”.
Here’s what we know about her business empire, background, and the allegations against her.
Who is Isabel dos Santos and who is her father?
Dos Santos is an Angolan billionaire and the daughter of the late Angolan former president José Eduardo dos Santos.
The 51-year-old faces myriad international sanctions, asset freezes and corruption allegations, with Angola and other countries pursuing legal action against her. She denies all charges against her.
In 1979, dos Santos’ father became the second president of the oil-rich country, which was a Portuguese colony until 1975.
Previously, dos Santos Sr. played an important role in Angola’s freedom struggle as a member of the Popular Movement for the Liberation of Angola (MPLA), which emerged as the dominant force after independence.
He led the country for 38 years before stepping down in 2017 amid mounting political pressure and public dissatisfaction with widespread corruption, poverty and nepotism among government officials.
In 2022, he passed away at the age of 79 in Barcelona, Spain, where he had been living while undergoing treatment after retiring from office.
During his tenure, his daughter became a prominent figure in Angolan business circles. In 2013, Forbes magazine declared her Africa’s first female billionaire, and in 2016 she was appointed chairman of Angolan’s state oil company, Sonangol, but was fired the following November.
Why is Isabel dos Santos such a controversial figure?
Dos Santos was born in 1973 in Baku, the capital of Azerbaijan, where his father studied abroad and where he met his Russian mother, Tatiana Kukanova.
She studied at a private school in England while Angola was embroiled in civil war. The civil war began shortly after independence and lasted nearly 27 years, making it one of Africa’s longest and most devastating conflicts. She went on to earn a degree in electrical engineering from King’s College London before launching her business empire.
In 2020, the Luanda leaks (nearly 700,000 documents detailing how the dos Santos family’s fortune was built using Angolan public funds siphoned into offshore accounts) were discovered by an international investigative journalist. Published by the International Federation of International Cooperation (ICIJ).
Portuguese hacker Rui Pinto later claimed responsibility for the Luanda breach, saying he had handed over a hard drive “containing all the data related to the recent revelations about Isabel dos Santos’ property.” .
The exact number of companies in which Dos Santos owns or held shares remains unknown, but Luanda Leakes has collected information from 400 companies and subsidiaries linked to her in Angola, Portugal and various offshore locations. revealed a vast network. Important ones include:
Ownership of Vidatel, a holding company registered in the British Virgin Islands Vidatel owns a 25% stake in Unitel, the leading Angolan mobile phone company it co-founded in 1998 Significant stake in Angolan and Portuguese satellite TV operator ZAP Portuguese company with a significant stake in ZAP, the Angolan-Portuguese satellite television operator, spanning multiple sectors including telecommunications, banking, energy and construction.
Mr. dos Santos is a widow with three children, but most details about his children are kept private.
Her late husband, Sindika Dokolo, died in a diving accident near Dubai in 2020. Dokolo, a Congolese businessman and art collector, was known for his efforts to recover African art looted during colonial times.
But his accomplishments also intersected with Dos Santos’ controversial business empire. ICIJ’s Luanda Leakes revealed that Dokolo was closely linked to dos Santos’ business dealings through partnerships built using the resources of the Angolan state.
Where is dos Santos now?
Dos Santos currently lives in Dubai, United Arab Emirates, from where he regularly posts about his life on social media.
She has also spent time in Portugal and the UK in the past, both of which play important roles in her business dealings.
However, increased international surveillance, including an Interpol Red Notice issued in 2022 at Angola’s request, puts her at risk of detention and extradition if she enters a cooperating country. As a result, her movement is restricted.
Why did Britain impose sanctions on her?
In November, Foreign Minister Lamy announced sanctions against dos Santos as part of a crackdown on “dirty money” and kleptocracy (a form of government in which leaders use their power to steal public resources for personal gain). announced.
A British government statement released last month said Mr dos Santos had “systematically abused his position in a state-owned company to embezzle at least 350 million pounds ($442 million), which was coveted by Angola.” “It has taken away resources and funding for development.”
This week she told the BBC she was “surprised” by the UK’s sanctions over this, as she had not been convicted of “any corruption in any court of any country”.
Measures taken under the UK’s International Anti-Corruption Sanctions Regulations include travel bans and freezing of UK assets.
Previously, in 2023, the UK High Court ruled that Dos Santos had been accused by Unitel of failing to pay his debts and diverting inappropriate loans to her Dutch company, Unitel International Holdings (UIH). His assets of 580 million pounds ($736 million) were frozen after he was arrested. Unitel was able to bring the case in the UK because the allegedly misguided transactions involved the UK financial system and companies.
Did other countries sanction her?
yes.
US
In 2021, the United States also used anti-corruption laws to ban her from entering the country and accused her of “grave corruption.”
Angola
Angolan authorities froze her domestic assets in late 2019 on suspicion of “directing” state funds into companies in which she held shares during her father’s presidency, including state oil giant Sonangol. In January 2020, Angolan authorities named Mr. dos Santos as a formal suspect on suspicion of mismanagement and embezzlement of funds during his time as Sonangol chairman.
Attorney General Helder Pitta Groz told a news conference in the capital, Luanda, that Mr. dos Santos had not shown any direct interest in cooperating with Angolan authorities.
In 2022, the Supreme Court ordered a “precautionary” seizure of approximately $1 billion worth of assets held by dos Santos after authorities said they had evidence of embezzlement and money laundering charges.
Earlier this year, Angolan prosecutors charged Dos Santos with 12 counts of defrauding the country of $219 million while he was head of Sonangol.
Portugal
Immediately after the Luanda leak, Portugal froze assets estimated at 500 million euros (about $550 million).
Angola and Portugal have frozen assets totaling more than $1.5 billion.
Did the sanctions affect dos Santos?
Experts believe so.
“In the Angola case, the money has been recovered and the rent-seeking of the elites is not as brazen as it was at the end of the dos Santos era,” Alex Vines, director of the Africa program at London’s Chatham House, told Al Jazeera. spoke.
He believes that “stronger and more independent institutions, transparency, and peer and cultural pressures to thwart endemic corruption” can lead to meaningful and lasting results, even in regions with weak state institutions. He added that anti-corruption efforts are possible.
In 2021, Forbes also removed dos Santos from its list of billionaires. Forbes, which once valued her fortune at more than $2 billion, explained that her assets were frozen, making it difficult to verify her net worth.
Where else have allegations been made against her?
Angola, Portugal, the Netherlands and the United Kingdom are all investigating allegations of corruption, financial mismanagement and embezzlement against Mr dos Santos.
Since his dismissal as president of Sonangol in 2017, dos Santos has called the allegations part of a politically motivated campaign led by President João Lourenco’s government to dismantle the influence of the dos Santos family. It has been characterized as such.
Mr. dos Santos’ father had handpicked Mr. Lorenco, the former defense minister, as his successor. Initially considered a loyalist, Mr. Lorenco quickly distanced himself from the dos Santos family and launched an anti-corruption campaign targeting their wealth and influence.
In 2019, Portuguese authorities also launched an investigation into dos Santos’ investments, particularly Efasec Power Solutions and BancoBIC, due to concerns about funds linked to Angolan national resources. Although she has not been found guilty, her financial operations in Portugal are restricted due to the ongoing investigation.
Luanda’s leaks in 2020 led to increased public scrutiny and an expanded investigation into her business dealings.
In 2023, the Dutch Chamber of Companies ruled that she illegally diverted €52 million from Sonangol to Exem Energy BV, a Dutch-based company she co-owned with her late husband.
Dos Santos has said he is ready to defend himself in court, but has never been tried. Dos Santos has cited concerns about political persecution and a lack of due process as reasons for not appearing in court in Angola, where he risks being arrested upon his return.
Vines said the dos Santos case “illustrates the fragility of elites who have lost power or support.”
Who are some other celebrities who have been sanctioned in recent years?
British sanctions announced last month also targeted Ukrainian oligarch Dmytro Firtash and Latvian politician Ayvars Lembergs.
Firtash was charged with embezzling millions of dollars and concealing wealth, and Lemberg was charged with bribery and money laundering. Their families are accused of possessing or benefiting from their assets.
From 2019 to 2021, Teodoro Nguema Obiang Mangue, the son of Equatorial Guinea’s president, was sanctioned by the United States, United Kingdom, and France for corruption and embezzlement of state funds, including spending on luxury goods.
Russian oligarch and former Chelsea FC owner Roman Abramovich was sanctioned by the UK, European Union and Canada in 2022 due to his close ties to the Kremlin following Russia’s invasion of Ukraine. The sanctions targeted his vast assets, including luxury real estate and investments.
