Filomeno dos Santos imprisonment is "important symbolic step" in Angola

José Filomeno dos Santos, former president of the Sovereign Fund of Angola

José Filomeno dos Santos, former president of the Sovereign Fund of Angola

Fitch Solutions today told Lusa that the detention of José Filomeno dos Santos is "an important symbolic step" against corruption in Angola, but investors also expect more structural measures.

"The arrest of José Filomeno dos Santos in relation to the illicit transfer of funds is an important symbolic step of President João Lourenço in the fight against corruption," Lusa told the analyst that follows Angola at Fitch Solutions.

"Recent efforts are a positive step towards increasing accountability, and the detention proves that it is not 'business as usual' in Angola," the analyst told Lusa.

The analyst at Fitch Solutions, a consultancy firm owned by the same group that owns the rating agency Fitch, added, however, that "the arrest of some prominent personalities will not be enough to solve what many describe as endemic corruption within key institutions in Angola."

Asked about the international perception of this detention of the son of former President of Angola José Eduardo dos Santos, Tettey Addy responded by saying that she believes that "investors will still be waiting for signs that the Lourenço Government is fighting corruption in a more structural way."

José Filomeno dos Santos was the chairman of the board of directors of the Sovereign Fund of Angola, appointed by his father, then Angolan head of state and, meanwhile, exonerated by the current President, João Lourenço, in January of this year.

'Zenu', as he is known in Angola, is accused, according to the PGR, of involvement in a crime related to an alleged $ 500 million fraud, a case already referred to the Supreme Court, as well as a criminal proceeding, still under investigation, related to acts of mismanagement of the Angola Sovereign Fund, in which Angolan businessman Jean-Claude Bastos de Morais, a partner of José Filomeno dos Santos in various businesses, is also in pre-trial detention in the prison of Viana.