Africa’s richest woman, Isabel dos Santos, might resign as Chairman of state oil firm Sonangol before Angola’s General Elections in August.
The Expresso, a Portuguese newspaper, which quoted an anonymous source from Angola’s ruling party, said that Isabel dos Santos plans to leave the position because she has been facing immense pressure from various quarters to vacate the position on the back of rising anti-dos Santos family sentiments.
According to the paper, Isabel’s younger brother, Filomeno de Sousa dos Santos, who is currently the chairman of Angola’s sovereign wealth fund, is also expected to vacate his position anytime soon.
In June last year, Angolan President Jose Eduardo dos Santos appointed his daughter as the head of Sonagol, the state-owned oil firm. Filomeno, on the other hand was appointed to head Angola’s $5 billion sovereign wealth fund, the Fundo Soberano de Angola in 2012.
President dos Santos, 74, has been in power since 1979. He is believed to have used his position over the years to indiscriminately enrich family members and cronies. Last year he promised to step down this year. Angola is scheduled to hold General Elections in August.
Isabel dos Santos is the richest woman in Africa with a net worth FORBES estimates at $3.1 billion.
A spokesperson for dos Santos did not respond to a request for a comment as at the time of publishing this post.