Specialist risk intelligence firm EXX Africa publishes a new report looking into the background of the ongoing anti-corruption campaign in Angola. The full report is available on request and key findings are presented below.
LONDON, UK – 20 January 2020 – EXX Africa publishes a special report on Angola shadow state executives who imperil the country’s privatisation process.
Using a high-profile anti-corruption campaign as a distraction, the Angolan political and business elite is once again deeply entrenched in embezzling funds from Sonangol contracted services.
Ongoing trials and investigations in Angola display a lack of judicial due process and government bias in politically motivated targeted prosecutions, as well as public tarnishing of senior judges and prosecutors.
This pattern bodes ominously for the IMF-backed privatisation agenda in which the ruling elite will seek lucrative stakes in state assets through opaque financing structures.
The transition of political power in Angola has failed to root out entrenched state corruption over the past two and a half years, while the current government is engaged in new forms of fraud and embezzlement of state revenues.