The latest removal of the company belonging to the Isabel dos Santos from the state project, Marginal da Corimba marks the development of another conflict between the Angolan President, Joao Lourenco and Santo’s clan. Isabel’s company whose contract has been annulled operates under the name Urbinvest and Landscape.
Although this recent occurrence is a setback on her business engagements, she is still committed to growing business engagements in Angola like never before. One would have expected her to avoid the Angolan market at the moment, but it seems that is not going to happen with the billionaire Isabel dos Santos. She has embarked on implementing the expansion plans for her network of Candando stores. It a project that is creating benefits to the economy through the employment opportunities it has offered many citizens of this country.
Although it is now business as usual for Isabel dos Santos, there is no denying that her company’s departure from the multi-million dollar project is causing some shock waves. The reason the contract was canceled was because President Joao Lourenco alleged that the company has been over-invoicing for their services. This incident has occurred a month after Isabel dos Santos father, the former President Jose Eduardo, accused the sitting President in a private setting for the forced exile of some of the members of his family, but the President refuted the allegations.
Isabel dos Santos has amassed a fortune by investing in various industries in Angola and also in other countries like Portugal. Among the sectors, she has invested in include retail, finance, and telecommunications among others. Also, she has commercial interests in diamonds as well as the oil business. She also has had a long and successful career of about 20 years and has delivered in various capacities in a wide range of companies.
Her years of work in various sectors is the reason she is experienced on matters concerning the global economy and especially on what needs to be done to improve the economy of the African countries that are struggling with high poverty rate. So far, she has been financially supporting various projects to promote entrepreneurship in the underserved regions of Angola.
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