Home News World Documents reveal African's richest woman made her money by stealing
Source:Ghpage.com

Documents reveal African’s richest woman made her money by stealing

- Advertisement -

The richest woman in Africa known as Isabel dos Santos has been fingered in stealing allegations according to investigations by the BBC to unravel her source of wealth.

Isabel who happens to be the daughter of Angola’s former President Jose Eduardo dos Santos, is alleged to have stolen over $2 billion from the people of Angola in a leaked document available.

In the documents, it was revealed that the former first daughter amassed her wealth through corrupt deals with state oil and diamond companies which she ran during her father’s 38 years as President.

One of the most egregious deals involved her purchase of a stake in the Portuguese energy company Galp from the state-run oil company Sonangol.

Also Read: Dangote reveals he built his empire from scratch

According to the BBC: “[she] only had to pay 15% of the price upfront and that the remaining €63m ($70m) was turned into a low-interest loan from Sonangol.

“Under the generous terms of the loan, her debt to the Angolan people didn’t have to be repaid for 11 years.”

By 2017, her company offered to pay back the debt but by then she was also in charge of Sonnagol thus Galp paid back a lesser amount than was owed.

Her stake in Galp is now worth more than €750m.

Also Read: For failing to complete the National Cathedral, Akufo Addo will lose the 2020 election -Prophet reveals

Even her husband, a Congolese businessman named Sindika Dokolo, got in on the looting.

As the BBC writes of another crazy deal: “Ms Dos Santos’s husband, Sindika Dokolo, signed a one-sided agreement in 2012 with Angolan state diamond company Sodiam.

“They were supposed to be 50-50 partners in a deal to buy a stake in the Swiss luxury jeweller De Grisogono.

“But it was funded by the state company. The documents show that 18 months after the deal, Sodiam had put $79m into the partnership, while Mr Dokolo had only invested $4m. Sodiam also awarded him a €5m success fee for brokering the deal, so he didn’t have to use any of his own money.”

Also Read: Kevin Taylor drops a photo of one of the suspects behind Ahmed Suale’s murder

There are more of such deals that only enriched Isabel at the expense of Angolans in the more than 700,000 leaked documents BBC obtained.

Isabel dos Santos is currently under investigation in Angola and her assets in the country have been frozen. but she remains in the U.K.

She claims the allegations against her are politically motivated in the wake of her father losing his grip on power.

Get Ghana Latest News in your inbox each morning.

TODAY

Thursday, February 27, 2020
Accra
few clouds
27.8 ° C
27.8 °
27.8 °
82 %
4.9kmh
17 %
Thu
28 °
Fri
28 °
Sat
28 °
Sun
28 °
Mon
28 °

Most Read

Nurse who sold a newborn baby to a barren woman for ¢11,715 arrested

A nurse has been arrested for selling a newly born twin brother to a a barren woman and her husband for 800,000...

Video of Nana Ama Mcbrown kneeling in front of her husband in public goes viral

Popular and celebrated Ghanaian actress Nana Ama Mcbrown recently got her husband in a surprise mood after she knelt down in public...

You’re my one true love – Delay finally opens on her ‘secret husband’

Delores Frimpong Manson aka Delay, the popular media personality has finally opened up on the love of her life.

Meet the daughter of Otumfour Osei Tutu II who is married to the son of an ex-vice President (Photos)

The king of the Asanti Kingdom Otumfour Osei Tutu II aside his role as the Asantihene has managed to keep his private...