HSBC, always at the ready for Lourenço's big projects
The Angolan head of state calls on HSBC for his large infrastructure projects. The bank's latest loan, granted in September, will go towards the construction of new roads.
The Angolan authorities, who are keen to demonstrate that the era of easy loans for regime notables is over, have given a glowing account of the performance of bad loans management company Recredit. The latter's success is not what it seems, however:
President João Lourenço has revoked the mining permit for the Maua diamond site that had been run since 2013 by firms owned, according to the Luanda Leaks, by his predecessor's daughter, Isabel dos Santos. The decision comes amid a wave of changes to the mining industry driven by the head of state.
Valdomiro "Minoru" Dondo, the Brazilian businessman of Japanese origin who was omnipresent under the presidency of José Eduardo dos Santos, has not lost a scrap of his influence since João Lourenço came to power.