MPLA strengthens control of Angolan ports
A company affiliated with the ruling party of Angola has bought Maersk's shares in Sogester, operator of port terminals in Luanda and Namibe.
Several firms led by allies of the current Angolan president and his predecessor won tender calls in the first wave of state privatisations, and the government is now preparing a second round involving some of the country's flagship companies.
African banks including Banco Sol & Bank of Africa have been targeted by cyber attacks recently. The hackers have threatened to make their data public, a threat which worries those in power who are clients of the banks.
Recovering illicit assets lodged abroad by the dos Santos clan is one of the biggest challenges facing President Joao Lourenco, leading him to solicit support from the club of fellow Portuguese-speaking nations which meets in Luanda later this month.
The UAE usually ignores foreign requests for judicial cooperation regarding its offshore hubs but has bent over backwards to accommodate Angola's investigations into the family of former president José Eduardo dos Santos. By doing so, the Emirates are not only forging stronger ties with Luanda but also earning money-laundering brownie points.
The Fundo Soberano de Angola, a leftover from the dos Santos era, has lost its shine since João Lourenço came to power. The technocrats appointed in 2018 to run the fund have been forced to shrink their ambitions in the face of a drastic reduction of its portfolio and the government's patent lack of interest.
The wealthy Indian Kothari family, which owns the KGK Group gemstone and jewellery company, is backing João Lourenço's shake-up of the diamond sector. By helping the president with his plan to make Angola more than a mere producer of stones, the Kotharis are counting on better access to the country's output.
Already engaged in innumerable court cases and arbitration battles, the smallest details of which are dutifully publicized by their respective PR teams, the family of ex-president dos Santos and the Angolan state are also fighting another less public, much less procedural battle.
Angolan president João Lourenço announced the opening of a tender for a contract to analyse the 2021 results of the Fundo Soberano de Angola (FSDEA), a sovereign fund mainly financed by oil revenue.
Presidential advisors in Angola now suspect Congo of colluding with the separatist Frente de Libertação do Estado de Cabinda (FLEC).
Agostinho Kapaia has succeeded in rising through the ranks in the Angola business world thanks to his connections in the MPLA and the influence of his oligarch uncle António Mosquito.
A minority shareholder (5.42%) in the country's seventh largest bank [...]