Angola’s President Appoints Daughter As Head Of State Oil Company Sonangol

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Written by Staff

From BBC (state oil company)

Angola’s President Jose Eduardo dos Santos has appointed his daughter as head of the state oil company Sonangol.

Isabel dos Santos, named by Forbes magazine as Africa’s richest woman, worth an estimated $3.3bn (£2.3bn), takes on the job after the entire board was sacked by her father in April.

Angola and Nigeria are Africa’s largest oil producers.

Critics accuse President dos Santos, who has ruled since 1979, of being increasingly authoritarian.

Ms Dos Santos has large stakes in many of Angola’s strategic industries, including diamonds, banking, media and telecommunications, with large parts of her business empire based in Portugal.

She owns 7% of the Portuguese oil and gas company Galp Energia.

A statement from her office said that she wanted to “ensure transparency” in the management of Songangol, and to improve the Angolan oil sector’s ability to compete globally.

Representatives for Ms Dos Santos deny that her wealth is largely due to her father’s position as president and has been acquired through state money and public funds.

Read more at BBC