Isabel dos Santos hits out over UK’s ‘dirty money’ sanctions

Isabel dos Santos, once hailed as Africa’s wealthiest woman, has strongly criticized the UK’s decision to impose sanctions on her, calling the move politically motivated and an unjustified attack on her reputation. In an interview with BBC Africa Daily, the Angolan business tycoon expressed her surprise at the UK’s actions, emphasizing that she had not been convicted of any corruption charges in any court, anywhere in the world.

In December, the UK government labeled dos Santos a “notorious kleptocrat” and imposed an asset freeze along with a travel ban, accusing her of siphoning off significant wealth from Angola, a country rich in oil resources. The UK government claimed that dos Santos had “systematically abused her positions” at state-run companies to embezzle an estimated £350 million ($442 million), depriving Angola of vital resources needed for development.

Dos Santos responded by saying that her reputation had been tarnished as part of a campaign orchestrated by Angola’s current government, led by President João Lourenço, who she believes is targeting her family for political gain. “It’s political at the end of the day,” said dos Santos. She also pointed out the lack of any formal inquiry or investigation into her actions, noting that there was no due process or opportunity for her to defend herself before these severe measures were taken.

The UK sanctions were part of a broader effort by the UK’s Foreign Secretary, David Lammy, to combat “dirty money” and crack down on corrupt individuals. Under the Global Anti-Corruption Sanctions Regulations, the UK is empowered to sanction individuals suspected of being involved in serious corruption, even without a conviction in a court of law. A spokesperson from the UK Foreign Office explained that dos Santos was designated due to the “reasonable grounds” to suspect her involvement in corrupt activities, though she has the right to request a review of the sanctions.

The allegations against dos Santos first surfaced in 2020, when the BBC’s investigative program Panorama, in collaboration with the International Consortium of Investigative Journalists (ICIJ), revealed the so-called “Luanda Leaks” — a series of documents alleging fraudulent deals involving dos Santos and her associates. These deals were said to have been structured through a company based in London. At the time, dos Santos was the daughter of Angola’s former president, José Eduardo dos Santos, who ruled from 1979 to 2017.

Born and educated in the UK, dos Santos attended private schools and later graduated as an electrical engineer from King’s College London. She initially worked in consultancy in Europe before returning to Angola and transitioning into business. Her first entrepreneurial venture involved delivering beer to restaurants, a start that eventually led to a sprawling business empire. She established stakes in various industries, including telecommunications, banking, and cement production. By 2016, she was listed as Africa’s richest woman and was also the continent’s youngest billionaire.

Dos Santos has always viewed herself as a pioneer and an economic contributor to Angola, stating that she is the largest private employer in the country, with more than 200,000 jobs created. She also stressed that she has been one of Angola’s largest taxpayers, helping to build the country’s economy. Despite the praise, her appointment in 2016 as the head of Sonangol, Angola’s state oil company, was controversial, with many critics questioning her qualifications. She defended the decision, pointing out her track record of turning around struggling companies, an ability she claimed she applied to Sonangol.

However, soon after her father’s departure from power, dos Santos was dismissed from Sonangol by his successor, President Lourenço. Following her sacking, her assets were frozen in Angola, and two years later, the UK also imposed sanctions. Dos Santos believes that Lourenço’s anti-corruption campaign is part of a larger effort to discredit her family and distance himself from their legacy.

Despite these setbacks, dos Santos remains defiant, alleging that the freezing of her assets was based on fabricated documents, including a passport bearing Bruce Lee’s signature. She also criticized the slow progress of the legal case against her, saying that civil cases typically resolve within 18 months but hers has remained unresolved for years.

As of 2021, Forbes removed dos Santos from its billionaire list due to the asset freezes that have prevented her from receiving dividends from her companies. Additionally, personal tragedies have weighed heavily on her, with the loss of her husband in a diving accident and her father’s death in 2022. She did not return to Angola for his funeral due to the risk of arrest, as Interpol issued a Red Notice at the request of the Angolan government.

In the face of ongoing sanctions and legal challenges, dos Santos is determined to share her side of the story. She hopes to clarify misconceptions surrounding her and address the complex nature of the accusations against her. When asked about her future ambitions, she did not rule out entering politics, saying that serving her country in any capacity—whether in business, philanthropy, or culture—is always a possibility. “To lead is to serve,” she said, echoing her longstanding commitment to Angola’s development.

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