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Spotlight

ANGOLA

Banco Sol struggles to shake reputation as MPLA's bank

Coutinho Nobre Miguel, dubbed the MPLA's banker. He was the boss of Banco Sol until last year and remains a major shareholder. © Coutinho Nobre Miguel/Facebook

Thrown back into the limelight by a recent report, Banco Sol's deep and long-standing ties with President João Lourenço's party are weighing heavily on the financial institution's attempts to brand itself as just an ordinary bank. [...] (802 words)

Issue dated 11/03/2021 Reading time 4 minutes

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Finance Business

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ANGOLA
Ana Dias Lourenço
Ana Paula Dos Santos
António Mosquito
Ascorp
Azury
Banco Nacional de Angola
BDA
Coutinho Nobre Miguel
Endiama
Falcon Oil
Fundação Lwini
GEFI
Grupo António Mosquito
Isabel dos Santos
João Lourenço
José Eduardo dos Santos
Júlio Marcelino Bessa
Lev Leviev
Manuel Pinheiro Fernandes
Martal
Moneygram
MPLA
Noé José Baltazar
Odebrecht
Omega Diamonds
Orion
Pangea-Risk
Robert Besseling
Rosário Simão Jacinto
Sansul
Sonangol
Teodoro Lima da Paixão Franco Júnior

With a little help from its Lusophone friends, Luanda makes fresh bid to recover stolen assets

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. [...]

UNITED ARAB EMIRATES ANGOLA Diplomacy 02/04/2021

Dos Santos probe seals MBZ-Lourenço pact

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. [...]

Isabel dos Santos is the eldest daughter of former Angolan President Jose Eduardo dos Santos, who ruled the country from 1979 to 2017. © REUTERS/Toby Melville

Inner circles

ANGOLA Energy 19/03/2021

Sovereign fund dream team, unloved by Lourenço, fights for survival

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. [...]

ANGOLA Mining 18/03/2021

Uber-rich Kothari clan hitches its wagon to Lourenço's diamond sector reforms

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. [...]

Vice-chairman of KGK Group Sanjay Kothari. © KGK Group

Spotlight

ANGOLA Diplomacy 08/03/2021

Away from the courtrooms, the government and the dos Santos clan wage a secret war

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. [...]

ANGOLA Energy 01/03/2021

Lourenço scrutinises financially diminished sovereign fund

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. [...]

ANGOLA CONGO Diplomacy 01/02/2021

Relations between Sassou and Lourenço become ever more poisonous

Presidential advisors in Angola now suspect Congo of colluding with the separatist Frente de Libertação do Estado de Cabinda (FLEC). [...]

Inner circles

ANGOLA Business 14/07/2020

New generation businessman Agostinho Kapaia steps into the limelight

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. [...]

ANGOLA Business 09/10/2019

Banco Sol, a presidential bank

A minority shareholder (5.42%) in the country's seventh largest bank [...]

Receive free prompts for these topics

ANGOLA
Ana Dias Lourenço
Ana Paula Dos Santos
António Mosquito
Ascorp
Azury
Banco Nacional de Angola
BDA
Coutinho Nobre Miguel
Endiama
Falcon Oil
Fundação Lwini
GEFI
Grupo António Mosquito
Isabel dos Santos
João Lourenço
José Eduardo dos Santos
Júlio Marcelino Bessa
Lev Leviev
Manuel Pinheiro Fernandes
Martal
Moneygram
MPLA
Noé José Baltazar
Odebrecht
Omega Diamonds
Orion
Pangea-Risk
Robert Besseling
Rosário Simão Jacinto
Sansul
Sonangol
Teodoro Lima da Paixão Franco Júnior

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