May 27, 2022

Mawazo Writing Africa

Writing about the main

More than $100b illegally withdrawn from Angola: AG

More than $100 billion was illegally withdrawn from Angola’s treasury by 2017, and the money was hidden abroad, the country’s attorney general said in Luanda on Wednesday.

In 2017, President João Lourenço succeeded José Eduardo dos Santos after a general election that marked the end of dos Santos’ 38-year rule and launched an anti-corruption campaign carried out by his predecessor regime.

In 2017, Transparency International’s Corruption Perceptions Index ranked Angola 167th out of 180 countries surveyed, and in 2021 it was ranked 136th after four years. This indicates that the anti-corruption campaign has borne fruit.< /p>

“Sectors such as construction, public works, oil and diamonds have been hardest hit by illegal cash transfers abroad from Angola.”

“More than US$5 billion in financial and non-financial assets have been confiscated in some cases and an additional US$12 billion has been seized in the last three years, while other cases have culminated in the confiscation of movable assets involving public funds established,” said Mr. Hélder Pitta Groz at the opening ceremony of an international conference.

According to the government official, of the $12 billion, $6.7 billion was in Angola confiscated and the remaining cash abroad in countries such as Portugal, United Kingdom, Netherlands, Luxembourg and Monaco.