NEWS
13/04/2018 13:00 SAST | Updated 13/04/2018 13:01 SAST

Who Is Isabel Dos Santos, Africa's Richest Woman?

According to Forbes research, her father transferred stakes in several Angolan companies to her while he was president.

Isabel dos Santos, the daughter of former Angolan president Jose Eduardo dos Santos.
Ed Cropley / Reuters
Isabel dos Santos, the daughter of former Angolan president Jose Eduardo dos Santos.

Isabel dos Santos is the richest woman in Africa, according to Forbes. She is the oldest daughter of Angola's long-time former president, Jose Eduardo dos Santos.

She is said to have a net worth of $2.6-billion (about R31.2-billion).

Dos Santos attended an all-girls boarding school in Kent in the U.K. and studied electrical engineering at King's College in London.

She went on to hold management positions in a number of companies listed on European stock exchanges before returning to Luanda in the 1990s. This is when she was project manager engineer for "Urbana 2000".

Her first business was "Miami Beach Club", which was one of the first night clubs and beach restaurants on the Luanda Island.

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She expanded her business interests over a period of nearly 20 years, leading to the creation of several holdings, in Angola and mostly abroad, making substantial investments in high-profile entreprises, especially in Portugal.

Her wealth is always questioned because of her father's influence and the positions she held because of him.

Her father made her the head of Sonangol, Angola's state-owned oil firm, in June 2016. But Angola's new president, João Lourenço, removed her from that role in November 2017.

According to Forbes research, her father transferred stakes in several Angolan companies to her while he was president. These included stakes in banks and a telecoms firm.

A spokesperson for Dos Santos told Forbes that she "is an independent businesswoman and a private investor representing solely her own interests".