Africa’s Former Richest Woman Faces New Legal Problems

Isabel Dos Santos, once Africa’s wealthiest woman and daughter of former Angolan President Jose Eduardo Dos Santos, has found herself entangled in a complex legal dispute with telecommunications firm Unitel SA.

The repercussions of this dispute have led to a substantial freezing of Isabel Dos Santos’ assets, amounting to £580 million ($734 million), as decreed by a London court.

The legal contention stems from allegations made by Angolan company Unitel against Isabel Dos Santos and her Dutch holding company, Unitel International Holdings BV (UIH). The accusations revolve around defaults on loans, totaling approximately €325 million and $44 million. These loans were intended to fund UIH’s investments in various telecommunications ventures.

Remarkably, despite the similar names, the two entities embroiled in the lawsuit lack direct corporate connections.

Isabel Dos Santos, who has been residing outside Angola, faces this significant freeze on her assets, marking another chapter in a series of legal disputes and controversies surrounding her and her business dealings.

In 2020, Isabel Dos Santos experienced a dramatic shift in fortune as she was ousted from the list of Africa’s richest individuals. This downfall came in the wake of accusations of embezzlement and money laundering. Angolan authorities took action by freezing her assets, alleging her involvement in the misappropriation of over $5 billion during her father’s rule.

Isabel Dos Santos’ legal team contends that the lawsuit is politically motivated, suggesting it was orchestrated by the Angolan government amid political rivalries. An investigation into her wealth acquisition revealed various privileges and positions, including her role as the chief executive of the state oil company Sonangol. She was removed from this position by the new Angolan President, Joao Lourenco, in 2017.

In a significant development, INTERPOL issued a Red Notice, urging governments to provisionally arrest Dos Santos pending local legal proceedings. This adds an international dimension to the legal challenges faced by the once-prominent figure in African business and wealth.

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