Africa’s first female billionaire now labeled “notorious kleptocrat” by UK gov’t

Isabel dos Santos once had the distinction of becoming Africa’s first female billionaire. Now, the UK government brands her as a “notorious kleptocrat”.  Last month, it imposed sanctions on her assets in England and issued a travel ban, according to Al Jazeera.

Dos Santos, the daughter of Angola’s late President José Eduardo dos Santos, allegedly built her fortune during her father’s presidency—a period marked by widespread corruption and nepotism.

The UK says Santos “systematically abused her positions at state-run companies to embezzle at least £350m [$442m], depriving Angola of resources and funding for much-needed development”.

In 2020, the Luanda Leaks, released by the International Consortium of Investigative Journalists, exposed a pattern of corruption within the dos Santos family, including offshore accounts used to amass wealth. By 2022, Interpol issued a red notice at Angola’s request to restrict Isabel’s movements.

Now residing in Dubai, dos Santos claims the allegations are part of a politically motivated campaign to discredit her and her family. However, countries including the UK, US, Portugal, and Angola have concluded that her wealth stems from corruption, leading to international sanctions and her removal from Forbes’ billionaire list.