Isabel dos Santos denies corruption claims, criticizes UK sanctions over $440 million allegations
Key Points
- Isabel dos Santos disputes UK sanctions, calling them politically motivated and without due process.
- The UK alleges she embezzled $442 million from Angola, depriving the country of vital resources.
- Dos Santos highlights her business empire, claiming to have created over 200,000 jobs in Angola.
Isabel dos Santos, once celebrated as "Africa’s richest woman," has strongly criticized the UK government for imposing sanctions against her, describing them as politically driven and lacking evidence.
The 51-year-old entrepreneur, daughter of former Angolan President José Eduardo dos Santos, faces an asset freeze and travel ban imposed by the UK last month. Authorities accuse her of embezzling £350 million ($442 million) from state-run companies, including Angola’s oil firm Sonangol. UK Foreign Secretary David Lammy framed the sanctions as part of a broader fight against illicit finance.
“There was no due process. I have not been found guilty of any corruption in any court in any country,” Dos Santos said, rejecting the allegations.
Angola’s government, under President João Lourenço, has pursued Dos Santos and her family in a wide-ranging anti-corruption campaign. She argues the effort is politically motivated and aims to discredit her business legacy.
From billionaire to sanctions: Isabel dos Santos’ complex legacy
Dos Santos began her entrepreneurial journey in her twenties after earning an electrical engineering degree from King’s College London. She established a business empire spanning telecommunications, banking, cement production and breweries, with ventures in Angola, Portugal and other nations.
At her peak, Dos Santos had a net worth exceeding $2 billion, earning her the title of Africa’s wealthiest woman. She was removed from Forbes’ list in January 2021 amid mounting allegations and asset freezes.
She highlights her businesses’ contributions to Angola’s economy, saying, “I am my country’s largest private employer. I have created over 200,000 jobs and contributed significantly to Angola’s economy.”
Her 2016 appointment as head of Sonangol by her father drew criticism over alleged nepotism. Dos Santos insists she was chosen for her ability to revitalize struggling companies.
Corruption allegations intensified after her 2017 dismissal from Sonangol, following her father’s departure from office. Investigative reports like the "Luanda Leaks" revealed alleged dubious transactions involving her businesses.
In May 2023, Unitel sued her Dutch company, Unitel International Holdings, in London’s High Court over unpaid loans totaling more than $400 million. Dos Santos’ global assets, valued at approximately £580 million ($734 million), have been frozen in Angola, Portugal and the UK.
She says these freezes have barred her from reinvesting in her companies or accessing dividends.
Dos Santos defends her legacy and signals future ambitions
Despite mounting legal and political challenges, Dos Santos remains defiant, accusing Angola’s leadership of distorting her late father’s legacy.
“He [Lourenço] was part of the decision-making. He cannot now blame the past while distancing himself from it,” she said, criticizing Angola’s current economic struggles.
An Interpol Red Notice requested by Angola threatens her with potential arrest if she returns to the country. Dos Santos claims some documents used in her legal battles, including passports, were falsified to undermine her defense.
She has not ruled out a future in politics and has hinted at a potential presidential bid, saying, “To lead is to serve. I wish to serve Angola—whether in politics, business, philanthropy or culture.”
The economic narrative of Angola remains intertwined with Dos Santos’ legacy. While corruption accusations dominate the headlines, she highlights her contributions to the private sector, tax revenue and job creation.
As the fight over her assets and reputation continues, Dos Santos insists on her innocence and seeks to secure her place in Angola’s history.