Embattled Isabel dos Santos to sell investments in Portuguese firms

Embattled daughter of Angola’s ex-president, Isabel Dos Santos, has decided to sell her investments in Portuguese firms.

The announcement was made by Portugal’s Economy Minister Pedro Siza Vieira who described it as good news, adding that it would spare them any potential damage as she battles fraud charges.

Last month, Angola accused the billionaire businesswoman of mismanagement and misappropriation of funds while she chaired state oil company Sonangol. Her father, Eduardo Dos Santos who was in charge of the southern African country for 38 years, was accused of enriching his family whiles in charge.

Before that, hundreds of thousands of files about dos Santos dubbed the “Luanda Leaks” were released by several news organisations focusing on how she amassed a fortune estimated at more than $2 billion.

Dos Santos, who denies any wrongdoing, holds significant stakes in Portugal’s Eurobic bank, engineering firm Efacec, oil group Galp and telecoms company NOS.

Angola’s public prosecutor is looking into dos Santos’ business dealings while Portugal’s prosecutor’s office has announced it would investigate the files leaked by the media.