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Economist: It will be difficult to judge Isabel dos Santos in Luanda

The analyst at the Economist Intelligence Unit (EIU) who follows the Angolan economy considered in an interview with Lusa that "it will be difficult" for the authorities to take businesswoman Isabel dos Santos to trial in Luanda.

: Eco
Eco  

"Isabel dos Santos recently moved her official residence to Dubai, motivated by her desire to keep assets out of the hands of Angolan authorities, and has not set foot in Angola since 2018," recalled Nathan Hayes in an interview with Lusa.

"The Government said it would try to get her to go to trial in Luanda, but it will be difficult; she has Russian citizenship, which may prevent extradition to Angola", said the analyst, when asked if he believes it is possible to judge the businesswoman in the parents.

Asked if the lawsuit filed by the Attorney General's Office against Isabel dos Santos, constituting her defendant, helps to convince investors about changes in Angola in the business environment, Nathan Hayes replied that the reforms are going in the right direction.

"International investors are likely to see ongoing efforts, particularly in separating Sonangol and allocating oil exploration licenses, as a step in the right direction to ensure private sector growth and promote economic diversification", he said.

The problem, he added, is that "very little has improved since José Eduardo dos Santos left power", starting on the economic side, "with the country in recession four years ago, and most of the economic activity in the country to remain focused on oil sector, with little impact for most of the population".

Furthermore, he added, even though the Santos family has left power, "there are still many elusive leaders in power, since the ruling elite is, in fact, the military, and João Lourenço's reformist drive has to be careful so as not to act too quickly against these entrenched interests".

Thus, he concluded, "the business environment remains very challenging, and there is still much to do before Angola is an attractive destination for investments, but the João Lourenço Government is taking steps in the right direction".

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