JOHANNESBURG – Now that Isabel dos Santos, Africa’s wealthiest woman, has been named head of Angola’s oil company, she could soon be headed for more power – but this time in politics, experts say.
Her father, president Jose Eduardo dos Santos, appointed her as boss last week of stateowned oil firm Sonangol in a move that some analysts see as the first sign of succession plans for Angola’s longtime ruler.
Nicknamed the “Princess”, 43yearold Isabel, has been ranked by Forbes magazine as the richest woman on the continent with a fortune of around US$3 billion.
Her appointment at Sonangol has political ramifications in Africa’s second largest oilproducing country.
The ruling MPLA party holds a crucial congress in August to elect its leadership and her authoritarian father appears to be winding down his own political career after announcing he would not seek reelection in 2017.
Her new powerful role at Sonangol may position her for political office in a country ruled by her father for 37 years.
“The president wants to establish a dynasty and leave the power to his family,” prominent Angolan writer and human rights activist Rafael Marques de Morais told AFP.
“One of the ideas is that Isabel steps up as vice president… and then along the way she takes over,” Marques told AFP.
Paula Roque, University of Oxford researcher on Angola, says the appointment of Isabel dos Santos “is a clear indication that the president wants to put in place a plan… to hand over power and concentrate power in the hands of his family.”
“For the first time, the president has made a very overt move to show what he is planning. This is the first open step in the succession plan,” Roque told AFP.
Three years ago president dos Santos appointed his son Jose Filomeno dos Santos to chair the country’s US$5 billion Sovereign Wealth Fund.
He has also been tipped as a potential successor to his father.
Establish a dynasty
Most of Isabel’s wealth is in stocks and shares in Portugal and Angola.
According to Marques, Isabel dos Santos owns billions of dollars worth of shares through Galp Energia, an offshore oil and gas giant, which belongs to Sonangol.
She used to become the richest woman in Africa through Galp,” said Marques, adding she never paid for the shares.
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