Angolan court queries oil firm appointment

ANGOLA’S Supreme Court has asked President Jose Eduardo dos Santos to respond to an inquiry as to why he had appointed his daughter head of the state oil firm.

Dos Santos appointed his billionaire daughter, Isabel, chief executive of state oil firm Sonangol in June.

She has pledged an overhaul of Sonangol to improve its efficiency and margins to offset the effect of depressed oil prices.

Angola, a member of oil cartel Opec, is Africa’s largest oil producer because of attacks and other problems that have cut output in Nigeria.

But it has been hit hard by depressed oil prices that have forced it to slash spending and growth forecasts.

The move tightens the president’s grip on the economy, as one of his sons also heads the state sovereign wealth fund.

The court was responding to a case filed by 14 Angolan lawyers who accused the president of nepotism and violation of Angola’s probity law.

Neither the presidency’s communications staff nor Isabel dos Santos answered calls to their offices.

Isabel, ranked Africa’s richest woman by Forbes magazine, was named to the post after the president’s shock firing of Sonangol’s board.

After being sworn in, Isabel said she was looking to split the firm into three units.

The appointment was seen by some analysts as the president’s laying the ground for dynastic family succession if he follows through on a declared intention to step down in 2018.

However, others said it was possible he was serious about bringing about change at Sonangol. – Reuters