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Luanda’s Corruption Clampdown Yields Results

Close-up of Fundo Soberano de Angola sign at a financial institution.

Angola has recovered more than $5 billion stolen from state coffers so far this year, both at home and from abroad. The money, including $3 billion stolen from the sovereign wealth fund, had been siphoned off by corruption and money-laundering. An anti-corruption drive has accelerated in Africa’s second-biggest oil-exporting country since 2017, when Joao Lourenco became president, ending the nearly 40-year grip on power by Jose Eduardo dos Santos.

SOURCE: REUTERS AFRICA

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