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Africa’s Richest Woman Isabel Dos Santos Defends Her Appointment To Run State Oil Company

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Mfonobong Nsehe
Mfonobong Nsehehttps://www.jozigist.co.za
Mfonobong Nsehe is currently Nigeria and Kenya advisor to Pilot Fish Media. He is also the CEO of Hodderway Group, a Kenyan-based private limited liability company focused on brokering and delivering attractive, large-ticket transactions in Africa to select blue chip international investment partners. He travels extensively across Africa every year, meeting and interviewing the continent's wealthiest entrepreneurs and tallying their net-worth for Forbes' annual rankings of the World's Richest People and Africa's Richest People. He is also a contributing writer for Jozi Gist. You can follow him @MfonobongNsehe and on Linkedin

Africa’s richest woman, Isabel Dos Santos, has defended the controversial decision of her father to appoint her as head of Sonangol, Angola’s state-owned oil company.

isabel-dos-santos

According to a report by Reuters, Santos, 43, told a group of Journalists on Wednesday that her father, Angolan President Jose Dos Santos, made her the chairperson of the oil firm because she had the requisite expertise and competence.

“The issue of my professional competence does not seem to be something reasonable,” she told reporters during the opening ceremony of a new school funded by Sonangol. “To me this looks to be part of the political games ahead of elections,” she said.

Angolan President Jose Eduardo dos Santos appointed his daughter as the head of Sonagol, the state-owned oil firm, in June after he fired the entire board in April this year. At least 14 Angolan lawyers filed lawsuits challenging the appointment on the grounds of nepotism.

Isabel dos Santos, 43, is the richest woman in Africa with a fortune FORBES estimates at $3.1 billion. She owns stakes in Angolan companies in banking, cement and telecom that were transferred to her by her father. A spokesperson for Isabel dos Santos has repeatedly said the transactions were transparent and at arm’s length.

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