Angola: Unitel in search of a new general administrator, after the resignation of Isabel dos Santos
August 24th 2020
The Angolan telecom company Unitel will elect a new general administrator on September 12. He will replace Isabel dos Santos, who has resigned. Prosecuted by Angolan justice for embezzlement, it decided to give up its place following a conflict between shareholders.
The Angolan mobile telephone operator Unitel announces the holding of an extraordinary general meeting of shareholders on September 22, 2020, convened by the chairman of this meeting Aguinaldo Jaime. The purpose of the meeting is to elect a new general administrator, who will succeed Isabel dos Santos, who resigned since August 11.
Isabel dos Santos, who owns 25% of Unitel through the company Vidatel, justifies her departure by a conflict among the shareholders. She underlines this by declaring in her decision to leave “that it is counterproductive and irresponsible to admit a climate of permanent conflict and systematic politicization of administrators”.
The conflict between shareholders could have arisen from the merits of letting the Angolan businesswoman continue to occupy the post of general administrator when she is currently unable to fully contribute to the activities of the telecoms operator. In addition, its damaged national and international credibility could damage the company’s image.
Since January 2020, the financial assets of Isabel dos Santos have in fact been frozen by the Angolan justice. The measure targets both personal bank accounts in Angola and holdings in Angolan companies.
The daughter of former Angolan President Eduardo dos Santos has been at the heart of an investigation for embezzlement, fraud and money laundering initiated as part of the vast anti-corruption campaign launched in 2017 by the President of the Republic, Joao Lourenço.
Back