Portugal promises to help Angola recover “unexplained assets”
26 Nov 2018

Portugal promised on Friday to help the government of Angola repatriate funds obtained through corruption and deposited in the Iberian country, as Luanda steps up its drive to clamp down on alleged fraud by the previous administration.

Many rich Angolans live or own property in Portugal, its former colonial master, and President Joao Lourenco has approved a law to confiscate any “unexplained assets” held by Angolans abroad from January 2019.

“We will give all collaboration to Angolan authorities to help in the fight on corruption … and to recover capital which is wrongly obtained,” Portuguese Prime Minister Antonio Costa told reporters during a Lourenco’s visit to Lisbon.

– Reuters, 23 November 2018.

Photo credit: Alexandros Michailidis / Shutterstock.com

Link to Reuters.

Count reading this article to your CPD minutes, by signing up to our CPD Wallet

No Responses to “Portugal promises to help Angola recover “unexplained assets””

You must be logged in to post a comment.

This site uses Akismet to reduce spam. Learn how your comment data is processed.