News

Angola Shadow State Executives Imperil Privatisation Agenda

Specialist risk intelligence firm EXX Africa publishes a new report looking into the background of the ongoing anti-corruption campaign in Angola. The full report is available on request and key findings are presented below.

 

LONDON, UK - Media
OutReach - 20 January 2020 - EXX Africa publishes a special report on Angola shadow state executives who imperil the
country's privatisation process.

 

Using a high-profile anti-corruption
campaign as a distraction, the Angolan political and business elite is once
again deeply entrenched in embezzling funds from Sonangol contracted
services.

 

Ongoing trials and investigations in Angola
display a lack of judicial due process and government bias in
politically motivated targeted prosecutions, as well as public tarnishing of
senior judges and prosecutors.

 

This pattern bodes ominously for the
IMF-backed privatisation agenda in which the ruling elite will seek
lucrative stakes in state assets through opaque financing structures.

 

The transition of
political power in Angola has failed to root out entrenched state corruption
over the past two and a half years, while the current government is engaged in
new forms of fraud and embezzlement of state revenues.

 

For any further
comment or a full copy of the report, please contact [email protected]

The issuer is solely responsible for the content of this announcement.

About EXX Africa

EXX Africa is a specialist intelligence
firm providing analysis and forecasts on political, security, and economic risk
across all African countries. The company was founded in 2015 and has since
become a leading risk advisory and consultancy with a broad network of clients
ranging from DFIs, banks, traders, corporates, and insurers, to governments and
military forces worldwide.

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