Angolan President, Joao Lourenco has made another dramatic move against his predecessor, Jose Eduardo dos Santos by dismissing the former head of state son Jose Filomeno dos Santos from the head of the country’s $5 billion sovereign wealth fund.
This comes barely two months after the dismissal of Africa’s richest woman and daughter of Eduardo dos Santos, Isabel dos Santos as chair of the state oil company Sonangol and replacement of six other board members.
Isabel’s dismissal according to analysts is likely a ploy to cement Lourenco’s power and prevent a decline in production at the country’s biggest company, as it was under fire from international partners for delays in approving projects.
President Joao Lourenco in an announcement on Wednesday stated that he was replacing the board of fund based on an external inquiry into the fund’s administration and control.
Replacing Jose Filomeno dos Santos as the new board chairman is Carlos Alberto Lopes, a former finance minister who was one of the most discreet ministers inside former President dos Santos’s government.
As a trained accountant who has written several books on Angola’s economy, Lopes also served as deputy planning minister where he was partly responsible for setting up the yearly budget plan and took part in annual meetings with the International Monetary Fund and the World Bank.
The president, who took office in September seems to be taking measures in ensuring his predecessor has limited control of key areas of the state by disarming influential individuals allied with the former president.
This yet another power play move made by the Angolan President Joao Lourenco, against his long-serving predecessor Jose Eduardo dos Santos. Click to read more.