Africa’s richest woman just got richer with new acquisition


Isabel dos Santos, the daughter of Angola’s President has added another slice of Angola’s economy to her portfolio as Africa’s richest.

Isabel just secured a controlling stake in the oil-rich nation’s largest bank.

BBC reports that the move has left observers pondering whether to applaud a savvy female entrepreneur or to bemoan the enduring power of the continent’s entrenched elites.

Isabel dos Santos is 43, ambitious, successful and unusual in a region where men still rule most boardrooms.

Mrs dos Santos is also the oldest daughter of Angola’s President Jose Eduardo dos Santos, a man who has run the country since 1979.

BBC reports that Angola is one of the world’s least developed nations. In recent years it has benefited from an oil boom and Chinese investment. But corruption and poverty remain huge challenges.

The president’s daughter has repeatedly tried to shrug off allegations of nepotism, of the first family looking to form an economic and political dynasty that will live on after the President steps down, as he’s recently promised to do.