Former Angola president dos Santos authorised $500m transfer – report

Rustenburg – Angola’s former president Jose Eduardo do Santos has confirmed he authorised the transfer of US$500 million to a foreign bank account, news site Macauhub reported.

Citing a letter written to the Supreme Court, Macauhub said dos Santos acknowledged authorising former National Bank of Angola (BNA) governor Valter da Silva to transfer the money to a Swiss bank.

The former president insisted the move was taken with the country’s economic welfare in mind, not in the personal interest of the people who executed it.

His son Jose Filomeno dos Santos is accused of embezzling $500 million from state coffers, and trying to steal $1.5 billion during his 2013-2018 tenure as head of Angola’s sovereign fund.

The younger dos Santos has been charged alongside da Silva, businessman Jorge Gaudens Sebastiao and the director of the BNA’s reserve management department, Antonio Samalia Bule Manuel.