Mon. Jan 27th, 2020

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Africa’s Richest Woman Blindsided by a Court Decision to Freeze her Assets

Angolan businesswoman Isabel dos Santos delivers a speech during the start of the new EFACEC Portuguese corporation's electric mobility industrial unit on February 5, 2018 in Maia. Elder daughter of Angola's long reining President Jose Eduardo dos Santos, Isabel is, according to Forbe's magazine, the wealthiest woman in Africa. / AFP PHOTO / MIGUEL RIOPA

Isabel Dos Santos is the eldest daughter of Angola’s long-serving President Jose Eduardo Dos Santos who stepped down in 2017. According to Forbes her net worth is about $2.3 billion, she is now the target of an anti-corruption campaign led by her father’s successor. Her portfolio includes a 25% stake in the Angolan mobile phone company Unitel, 25 percent stake in Angolan bank Banco BIC SA and other interests in cable television, a supermarket chain and another bank and she says the Angolan government’s actions – rather than combatting corruption – are going to hurt thousands of people.