Isabel dos Santos questions Angola's strategy to get out of the crisis

The businesswoman Isabel dos Santos

The businesswoman Isabel dos Santos

  |  DR

Businesswoman Isabel dos Santos, daughter of the ex-president of Angola, José Eduardo dos Santos, questioned this Thursday the Angolan strategy to end the crisis, after one year of constant risings in the oil price.

In social networks, the Angolan businesswoman added that the country is still plunged into a "deep economic crisis", in recession and with Angolan companies with "huge" financial losses, and questioned the current government's strategy to reverse the situation.

"The price of the barrel is reaching the bar of $80/barrel. It's been almost a year since "oil is up" and we are still plunged into a deep economic crisis, Angola is in recession. Angolan companies with huge financial losses. What is the strategy?," wrote Isabel dos Santos on Twitter, accompanying the text with a chart highlighting that oil had reached 79.08 dollars/barrel.

The comment comes after her father, José Eduardo dos Santos, abandoned active political life on Saturday when, at the 6th Extraordinary Congress of the Popular Movement for the Liberation of Angola (MPLA), he passed the leadership of the party to the current head of state of Angola, João Lourenço. João Lourenço, who after two months as President of Angola has exonerated Isabel dos Santos from the position of chairman of the state oil company Sonangol, completes his first year of governance at the end of this month.

On September 4th, at a press conference, the National Union for the Total Independence of Angola (UNITA) questioned where the oil surplus in Angola is going, whose numbers point to an accumulation of a total minimum of 1,600 million dollars (1,400 euros) in the last six months.

At the time, the leader of the UNITA parliamentary group, Adalberto da Costa Júnior, said that the average price of a barrel of oil in the international market, according to OPEC figures, stood at 67 dollars (58 euros) while the reference price in the General State Budget (OGE) is 50 dollars (43 euros), which gives a positive differential of 17 dollars (14 euros) per barrel.

The leader of the parliamentary group of the largest party of the Angolan opposition stressed that the data estimates that Angola accumulated "at least a total of 1,657,149 dollars," raising the question: "where is the oil surplus." "Angolans need to know, because this value should go to the strategic reserve of the State," said Adalberto da Costa Júnior, denouncing that the alleged "lack of transparency" is the cause of the disappearance of more than 600 billion dollars (520 billion) of the "multiple strategic reserves and that the Angolans don't know the destination"