Dos Santos tops the rich list as he exits presidency

Luanda. Angolan former President José Eduardo dos Santos is the nation’s richest man with a net worth of $20 billion, a watchdog reported.

According to http://michitimes.com, which investigates wealth globally, President dos Santos's first daughter, Ms Isabel dos Santos, ranks second, with a net worth of $3.4 billion.

President dos Santos last month handed over the baton to former Defence minister João Lourenço, after 38 years at the helm.

Ms Isabel dos Santos is the richest woman in Africa with a net worth Forbes estimates at $3 billion.

The 44-year-old studied engineering at King’s College, London, and opened her first business, a restaurant called Miami Beach in Luanda, in 1997 when she was 24.

Her assets in Angola include a 25 per cent stake in Unitel, one of the southern Africa state’s two mobile phone networks, and a 25 per cent stake in Banco Internacional de Credito (Banco BIC).

Her representatives deny that her holdings have any connection with her father.

According to Forbes magazine, the dos Santos family controls a huge chunk of Angola’s economy.

In a report titled; Top 10 Richest People In Angola In 2017, http://michitimes.com, ranks Mr Lopo do Nascimento as Angola's third richest, with a net worth of $750 million.

The 73-year-old former prime minister announced his exit from active politics in 2014, but still serves as an MP.

Mr Nascimento served as prime minister from 1975-1978, Territory and Administration minister from 1991- 1992 and was in 1993 appointed the ruling MPLA party secretary-general.

Fourth on the http://michitimes.com was Mr Elisio de Figueiredo, who served as the first Angolan ambassador to the United Nations from 1976 to 1988, with a net worth at $600 million.

He also served as Industry minister.

Mr João de Matos came fifth with a net worth of $550 million. He is a general in the Angolan military and is credited with leading the national troops during the Second Congo War to support Joseph Kabila’s regime. (NMG)