President of Angola Appoints Daughter as Head of Angola’s State Oil Company

June 13, 2016

 

President of Angola appoints daughter as head of Angola’s state oil company Sonangol

With global oil prices slumping and the economy struggling, President Jose Eduardo dos Santos appointed his daughter Isabel as head of their state-owned oil company. Sonangol oversees Angolas lucrative oil and gas reserves which contribute to approximately half the country’s annual GDP.

 

Isabel dos Santos, 43, is estimated to be worth around $3.3 billion, much of which is linked to the country’s fortunes. Some critics argue that his daughter’s appointment is just another way to hold power. Jose Eduardo dos Santos is Africa’s second longest serving leader, having been in power for 36 years. However, earlier this year, dos Santos announced that he will not be running in the 2018 election as he will be stepping down and retiring from politics.

 

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