AP NEWS

Political Influence and Patronage in the ‘New Angola’

September 25, 2018

LONDON--(BUSINESS WIRE)--Sep 25, 2018--EXX Africa https://www.exxafrica.com/ published a special report on the political influence and patronage in Angola.

To receive the full report, please send an email to:  marie@apo-opa.org

At the centre of the new political patronage structure stands former vice president Manuel Vicente, who has returned to the heart of political power in Angola and who through his family and close associates maintains an extraordinary position of influence over the economy.

Vicente was once part of the all-powerful ‘ Triumvirate’ that dominated Angola’s business sphere. Through a network of investments and commercial holdings, Vicente is still one of the wealthiest and most influential powerbrokers in the country. Even though he was politically sidelined towards the end of the previous administration, he retains commercial interests across key sectors such as banking, telecoms, energy, and logistics.

Over the past year, Vicente has regained much control over the state oil company Sonangol, as well as the central bank and finance ministry, where his political allies have been appointed into leadership positions. His family is also creating new commercial ties with the family of the new president, João Lourenço, while his closest business associates are benefitting from recent contract allocations. By bringing Vicente back into a position of political influence and shielding him from various international corruption investigations, President João Lourenço has found a powerful ally in his campaign to consolidate his own authority and to prosecute members of the former president’s family.

However, the restoration of Manuel Vicente carries significant political, reputational, and transparency risks that are likely to undermine the government’s popular manifesto of probity and economic liberalisation. This report identifies a number of recent deals and local source intelligence that highlight the prevalence of such risks. This report attempts to uncover the opaque network of overlapping commercial interests that once again threatens to capture Angola’s economy and to concentrate the country’s substantial wealth within the hands of a small political and business elite.

For any further comment or a full copy of the report, please contact https://www.exxafrica.com/

Distributed by APO Group on behalf of EXXAfrica.

About

EXX Africa is a specialist intelligence company that delivers accurate, decision-ready, and commercially relevant forecasts on African political and economic risk to businesses. We embrace the continent’s fast changing dynamics and serve our wide-ranging client base to mitigate their risk exposure to Africa’s fast-changing political and economic developments.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180925005980/en/

CONTACT: EXX Africa

Robert Besseling

Executive Director

robert.besseling@exxafrica.com

https://www.exxafrica.com

KEYWORD: ANGOLA AFRICA

INDUSTRY KEYWORD: PUBLIC POLICY/GOVERNMENT OTHER GOVERNMENT PROFESSIONAL SERVICES CONSULTING OTHER PROFESSIONAL SERVICES

SOURCE: EXX Africa

Copyright Business Wire 2018.

PUB: 09/25/2018 12:44 PM/DISC: 09/25/2018 12:44 PM

http://www.businesswire.com/news/home/20180925005980/en

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