Africa’s Second Longest-Serving President Appoints Daughter as Head of State Oil Company

Angola’s President Jose Eduardo dos Santos has appointed his daughter Isabel dos Santos as head of the state oil company Sonangol.

Isabel dos Santos, named by Forbes magazine as Africa’s richest woman, worth an estimated $3.3bn (£2.3bn), has been appointed to take on a job after her father sacked the entire board in April.

With the appointment of his daughter, critics have accused President dos Santos, who has ruled since 1979, of increasingly being authoritarian.

Ms Dos Santos has large stakes in many of Angola’s strategic industries, including diamonds, banking, media and telecommunications, with large parts of her business empire based in Portugal.

She is said to own 7% of the Portuguese oil and gas company Galp Energia.

A statement from her office said that she wanted to “ensure transparency” in the management of Songangol, and to improve the Angolan oil sector’s ability to compete globally.

Representatives for Ms Dos Santos deny that her wealth is largely due to her father’s position as president and has been acquired through state money and public funds.

Mr Dos Santos has ruled the oil-rich nation for 36 years

Algeria To Open Trading Post In Douala

 

According to the Algerian Ambassador to Cameroon, Merzak Bedjaoui, an Algerian-Cameroonian trade office will be opened in Douala to strengthen the economic cooperation between the two countries.

The details of the establishment of the trade office, the diplomat explained, will be fine-tuned during the Cameroonian- Algerian Economic Partnership Forum, which will be organised in Douala. In prelude to the event, 12 Cameroonian economic operators will take part in the 5th edition of the Algeria Export Fair, from May 27 to 30, 2016.

Cameroon Gov’t Impounds 110 Tons Of Imported Sugar

The Centre Region Fraud Control squad of the Delegation of Commerce impounded some 110 tons of sugar allegedly imported fraudulently.

Sugar importation has been banned in Cameroon following complaints from the Cameroon Sugar Company that her products are not consumed in the local market because of massive importation of contraband sugar.

According to officials in the Ministry of Commerce, the seizure of the sugar is aimed at preventing the commercialisation of 500,000 tons of sugar, which have fraudulently been imported by commercial operators.

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