Angola president sacks Dos Santos son as head of sovereign wealth fund

When the former president of Angola Jose Eduardo dos Santos picked him to be his successor, so many were happy that one of the longest serving presidents will step down and give way for new blood to lead the country. But others doubted if he was going to live up to the expectations of Angolans who had longed for change for some time. One of the main reasons were because former president Jose Eduardo dos Santos was going to remain the chairman of the ruling party in Angola. Instead, Angola’s President Joao Lourenco has left so many surprised with his fight against corruption.

Some analysts still ask not to be quick to conclude because Mr. Lourenco could be paving the way for his own. But he has made another move again justifying one of his campaign pledges, to crack down corruption. On Wednesday he removed the son of his long-serving predecessor Jose Eduardo dos Santos as head of the country’s $5 billion sovereign wealth fund.

After an external inquiry into its performance and governance according to reports, President Jose sacked José Filomeno dos Santos.

The $5bn (£3.7bn) fund has been mired in controversy since its 2011 launch.

This is the second of the former president’s children to be dismissed by Mr. Lourenço: Daughter Isabel dos Santos was removed as head of the country’s state oil company Sonangol last year.

Billionaire Ms dos Santos is Africa’s richest woman; it is not known how much her brother is worth.

Many of the children of the former president have government-linked roles.

Mr. dos Santos stepped down after 38 years in power last year. Mr. Lourenço, also known as JLo, succeeded him with a promise of cracking down on corruption.

He has also developed a reputation for pushing aside powerful figures associated with his predecessor, ever since he came into power.


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