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Lusa - Business News - Angola: Calls to fire sovereign fund president

Lisbon, Nov. 13 (Lusa) – Portuguese academic Ricardo Soares de Oliveira said on Monday that the very serious revelations contained in the ‘Paradise Papers’ had given Angola’s new president a good reason for firing the president of the Angolan Soverign Fund (FSDEA).
Although the management of the FSDEA has been criticised since the very beginning, particularly regarding the excessive proximity to Quantum Global, the ‘Paradise Papers’ revelations are very serious, he said and if João Lourenço is looking for a good pretext to get rid of José Filomeno dos Santos, the son of the former president, he doesn’t need to look much further.
The proximity between the two was exposed in greater detail by the global projection of the ‘Paradise Papers’.
On the 8th of this month, the fund’s board of directors, who control $5 billion in assets guaranteed that all their operations had been done “legally” and to the “highest regulatory standards.
Meanwhile, Angolan activity Rafael Marques demanded today that José Filomeno dos Santos should be sacked as there was “enough evidence” of “incompetence” in his management of public money.
Rafael Marques said the boss of Quantum Global, Bastos de Morais was a conman and that President João Lourenço had to act according to the law and remove Dos Santos from his job since the new president said on his campaign train that he would take a firm stance against corruption

Agency : LUSA

Date : 2017-11-14 09:28:32


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