Featured Africa

Isabel dos Santos Facing Fraud Charges; Banker’s Death Linked to Investigation

Isabel dos Santos, Africa’s richest woman, is set to be indicted on charges including money laundering, influence peddling and forgery. The forthcoming charges were announced by Angola’s prosecutor general Hélder Pitra Grós at a news conference on Jan. 22. They came less than a week after a sweeping international investigation… Read More

Dutch Curbing Phantom Company Culture That Aided Dos Santos

Dutch regulators say the country’s trust industry is failing to properly control the type of shell companies used by Isabel dos Santos, Africa’s richest woman, who is accused of bilking millions of dollars from companies in her native Angola. The country’s trust offices, which help establish and manage Netherlands-based businesses… Read More

Luanda Leaks: Isabel dos Santos ‘named as suspect in criminal investigation’

Africa’s richest woman, Angola’s Isabel dos Santos, has been named as a formal suspect in a criminal investigation, the country’s attorney general is reported to have announced. Dos Santos amassed a fortune estimated at $2.2bn (£1.7bn) while her father, José Eduardo dos Santos, was president of Angola. She is… Read More
23rd January 2020
The global chairman of PwC has warned that heads could roll at the professional services firm over its links to Isabel dos Santos, Africa’s richest woman, who is battling allegations that she obtained her wealth through corruption and nepotism. Bob Moritz, whose firm advised companies belonging to Dos Santos… Read More
22nd January 2020
Nigeria’s financial crimes watchdog charged a former attorney general suspected of taking bribes to facilitate a $1.3 billion oil block sale, the agency said on Tuesday, in the latest twist in one of the industry’s biggest alleged corruption scandals. An international investigation into the 2011 sale of the offshore oilfield… Read More
21st January 2020
Portuguese authorities said on Monday they had started investigating media reports concerning Angolan billionaire Isabel dos Santos, while a small bank said it had decided to put an end to commercial relationships with entities she controls. This was the latest fallout from increased scrutiny of Angola’s former first daughter, a… Read More
20th January 2020
Pausing at the entrance to a star-studded bash at the Cannes Film Festival, ’90s icon Sharon Stone flashed her one-of-a-kind cuff bracelet. It was a wraparound hippo with rubies for eyes, sapphire nostrils and white diamond teeth. Its body was covered in brown, gray and white diamonds. The dazzling ornament… Read More
17th January 2020
A convicted arms dealer branded a “merchant of death” used Britain’s most notorious form of ghost company to finance a private air war in Libya, The Times can disclose. Rami Ghanem supplied mercenaries to fly and maintain fighter-bombers for one of the local militias battling for scraps of the fractured… Read More
17th January 2020
Portugal’s central bank is carrying out an inspection of small local lender Eurobic, in which Angolan billionaire and former first daughter Isabel dos Santos is the main shareholder, to assess its procedures against money laundering, Eurobic said. Responding to questions from Reuters, the unlisted bank said on Thursday it was… Read More
17th January 2020
A British prosecutor launched a fresh attempt on Thursday to confiscate tens of millions of pounds stolen from an oil-producing state in Nigeria by its former governor, who was convicted of laundering his loot in Britain. James Ibori, who was governor of Delta State from 1999 to 2007, pleaded guilty… Read More
16th January 2020
The Anti-Corruption Commission (ACC) has confirmed investigating another law firm, Ellis Shilengundwa Incorporated, in connection with funds deposited into their bank account by the National Fishing Corporation of Namibia (Fishcor). Ellis & Partners Incorporated was established in 1997 by renowned lawyer Phillip Ellis. Ellis, however, left the law firm in… Read More
16th January 2020
Ghanaian prosecutors charged the chief executive officers of two defunct lenders for alleged crimes that contributed to a banking crisis that cost the West African nation 12.5-billion cedis ($2.2 billion) in bailouts. Michael Nyinaku, the former CEO of Beige Bank Ltd., appeared in the Accra Circuit Court on Tuesday on… Read More
14th January 2020
In the years since South Sudan declared independence in 2011, the U.S. has been its principal backer, supporting the government of the world’s newest nation despite its wars, rights abuses and corruption. Now, with the threat of famine looming after a series of missed deadlines for the country’s warring factions to form a unity government,… Read More