She received a share in the majority of the largest companies in Angola and has become the most influential business person in the country.
In December 2012 Isabel dos Santos threw a big party in honor of the tenth anniversary of the wedding with the Congolese businessman Sindica till.She invited dozens of friends and relatives from around the world - from Germany to Brazil.Along with hundreds of local visitors from Angola three days they bathed in luxury, arranging parties in the fortress of San Miguel in Luanda.The invitation to the event, according to one of the participants, it is a white glossy box, promising a celebration of "the decade of passion, friendship decade, decade, standing for hundreds of years ...»
But it would be truer to say - decades standing $ 3 billion.its 40 years of Isabel dos Santos is the youngest billionaire in Africa, and the only female billionaire.She quickly received large stakes in companies representing strategic sectors of Angola - banks, cement, telecommunications, oil and, of course, diamonds - making it the most influential business person in the country.In addition, Isabel dos Santos diversifies its investments more than half the value of its assets accounted for a stake in the Portuguese public companies.When in January 2013 Forbes announced its billionaire, the Angolan government has presented the news as a matter of national pride, a living testimony of what has made the country with a population of 19 million people.
secret of success Isabel dos Santos is very simple: either it receives a share in the company that wants to do business in Angola, either by pen stroke of the president's father to privatize state assets."It is impossible to justify this wealth is paraded without shame - said in an interview with Forbes, former Prime Minister of Angola Marcolino Moco.- There is no doubt that the father has created this condition. "
Isabel dos Santos, declined to comment for this article.Her representative did not answer the detailed questions, expelled a few months ago, and last week issued the following statement: "Mrs. Isabel dos Santos is an independent businessman and private investor, representing only their own interests.Its investment in Angola and / or Portuguese companies were transparent and conducted with the participation of independent parties, including reliable banks and legal firms. "In turn, the representative of the accused one of the authors - Angolan journalists (Rafael Marques de Morais), that he is pursuing political goals.In 1999, the government planted Marques de Morais in prison for a series of articles criticizing the regime, and then pushed him against a number of new criminal charges for the book "Blood Diamonds: corruption and torture in Angola."Finally, the representative Mrs dos Santos said that any allegations of illegal transactions between it and the government "bespochvennyi completely absurd."Angolan President Jose Eduardo dos Santos, was unavailable for comment.
Three centuries of Portuguese wealth pumped from the African country, abounding in mineral resources.Almost as soon as Angola won the war for independence in 1975, various internal factions went to war with each other for the right to do the same.Out of this chaos, which lasted 27 years, he was the winner of Jose dos Santos, who was elected president in 1979.
Dos Santos met his first wife Tatiana Kukanova as a student of the Azerbaijan Oil and Chemistry Institute, and his first child - Isabel - was born in Baku.At the age of six years, Isabel was in the presidential palace, and though family life was not too extravagant by the standards of African dictators (not counting the petty intrigues of President - at least five of his children by different mothers), the family is still receiving Christmas trees of New YorkNY, and champagne in the amount of $ 500,000 brought by the Lisbon restaurateur.It was enough to Isabel got the nickname "Princess."
When Isabel was a child, Angola's economy is in crisis, its crippled by two factors: the continuing civil war and the socialist policy of the president."In 1980, you went to the store and on the shelves was just noodles.And nothing more ", - says professor emeritus of the University of Southern California Gerald Bender, who studies Angola since 1968.For insulated from the reality of Isabel the world did not exist.She was admitted to King's College in London, where her mother lives, is now a British citizen, and received a bachelor's degree in engineering.However, when in the end of 1992, civil war broke out again, Isabel hurriedly returned to the capital of Angola, Luanda, as they say - after received death threats in London.Capitalism in the Angolan
In the late 1990s, when the civil war began to decline - a ceasefire was officially announced in 2002 - President dos Santos in Angola began to introduce capitalism.
Angola over the past decade has been one of the fastest growing economies in the world.GDP grew by an average of 11.6% per year between 2002 and 2011 - to a large extent contributed to the doubling of the growth in oil production to 1.8 million barrels a day.Budget revenues increased to $ 69 billion, whereas ten years ago they were only $ 6.3 billion. It is expected that only a small part of this money went to the simple Angolans.About 70% of the population lives on an income of less than $ 2 a day.And the government itself estimated 10% of the population every day fighting for his livelihood.
So where does the money go?Let's start with the president-paranoid.Spending on public security in Angola higher than on health, education and agriculture combined.Many simply stolen: according to the IMF at least $ 32 billion in oil revenues lost just in the period from 2007 to 2010.
And it is in this situation came to the stage by Isabel dos Santos.His first business experience she got in Miami Beach.No, it's not about Florida, but the beach bar and restaurant, in Luanda, that tries to emulate his namesake up to mediocre food and indifferent service.In 1997, the owner of Rui Barata had problems with health service and the tax inspector.Then he decided to take a partner 24-year-old Isabel dos Santos.Barata was guided by a very simple idea - one name only Isabel should keep pesky state inspectors away from the beach.The source said Forbes, the amount paid by the daughter of the president, was negligible.But 16 years later the business is booming: the weekend is no free space.
main lesson that made for himself "Princess" of the deal - her name can be very useful for business.It shall enter into adulthood, and this time, Angola began to sell off their wealth.Step One: diamonds
Angola is the fourth largest producer of diamonds in the world, selling gemstones worth $ 1 billion a year.Extraction in mines located to the north-east of the country, is a state company Endiama.In 1999, President dos Santos pushed Endiama to form a partnership for the sale of diamonds.Three Israeli businessman Lev Leviev including (state which Forbes estimated at $ 1.5 billion), pledged to build sales.For this enterprise, according to the documents of the British court, standing arms dealer Arkady Gaydamak, a former confidant of President dos Santos, during the Civil War of 1992-2002.The new company was named Ascorp.
Leviev and his partners, including Gaydamak, became owners of 24,5% Ascorp.The state remains 51%.But who is the most unexpected shareholder Ascorp?Of course, Isabel dos Santos, who received a package of 24.5% of the shares through a Gibraltar investment company Trans Africa Investment Services (TAIS, according to the annual report, the firm founded by Isabel and her mother).Leviev has not responded to a request Forbes, Gaydamak was not available for comment.
Ascorp was a cash cow, generating, according to British court documents, millions of dollars of dividends per month, but as a business, "bloody diamonds" in the mid-2000s drew the attention of international observers, Isabelle handed her mother a full control of the TAIS.According to the records of the registry of Gibraltar, the company was renamed and is now called Iaxonh Limited.
license from the pope: cellular
In 1997, President dos Santos issued a decree concerning the telecommunications sector: the government should conduct public auctions to obtain licenses for the frequencies.Two years later, he was de facto abolished the previous document, issuing a new decree.Now the government may have to issue a license and without public bidding, but the future license holder had to create a joint venture with the state.
Eleven months later, dos Santos has given us the right to become Unitel's first private mobile operator in Angola with the condition that he as the president has the exclusive right to build equity.Angolan state oil company Sonangol has received 25%, another 25% were at Isabel dos Santos.Its representative previously claimed that it has invested in the mobile operator money, but declined to specify the amount.Another shareholder in Unitel year later became a corporation Portugal Telecom, paid $ 12.6 million for a 25% stake.
It was a very good investment.Mobile phones have changed Africa.Now Unitel is one of the two mobile operators in Angola and its services are used by 9 million subscribers.Last year, the company's revenue was $ 2 billion. Analysts watching the Portugal Telecom, estimate the value of 25% Unitel $ 1 billion.
new partner: banks
Following diversification of assets in Angola, Isabel dos Santos began the search for new partners.
In 2005, appeared on the scene, Americo Amorim, the Portuguese billionaire with a fortune of $ 4.3 billion and interests in real estate, tourism and oil.After the civil war in Angola, he tried every possible way to enter the market of this African country.As a result, family dos Santos, Amorim and another Portuguese banker Fernando Teles opened bank Banco Internacional de Credito, known as the BIC.
Hand Isabelle father again played a role: President Dos Santos as head of the cabinet of ministers formally agreed entry of foreign investments in the bank's capital.As it took the deal is not known, since there is no public document of who invested in funds BIC.In the last annual report of the bank said that Amorim owns 25%.Various documents show that another 25% controlled by Isabel dos Santos.Her rep confirmed that she was one of the founders of the bank and had the means to pay its share.
In 2012, BIC assets were $ 6.9 billion. The share of Isabel dos Santos in the bank Forbes estimates at least $ 160 million.
National Treasure: Oil
Oil - the biggest natural resources of Angola.The country produces 650 million barrels a year, most of which is exported.State oil company Sonangol is so profitable that it was only a matter of time before a family dos Santos will start looking for ways to get a share in this business.And banking partner Isabelle billionaire Americo Amorim, played in this case a key role.
In 2005, the company established Amorim Amorim Energia.It controls 55% of the shares of this company.The remaining 45%, at least initially went to Sonangol through the Dutch holding company called Esperaza Holding.In late 2005, Amorim Energia acquired 33.3% of the Portuguese oil company Galp Energia for $ 1 billion.
At the end of 2006, according to the investigation of the non-profit Global Witness, a 40% stake in Sonangol Esperaza went to the Swiss company Exem Holding.Documents that would definitely linked Exem Holding Isabel dos Santos, was not found, but its "fingerprints" all over the place.So, her husband Sindica until, according to Global Witness, was elected to the Board of Directors Amorim Energia as a representative of Esperaza Holding.And the head of the investment holding company controlled by Isabel dos Santos, serves on the boards of directors of companies Exem Energy and Exem Oil & amp;Gas.
Last year, Amorim Energia has bought another 5% Galp Energia for $ 726 million, increasing its stake to 38.3%.Consequently, the value of the share Isabel dos Santos in the company (6.9% of the shares through indirect ownership) based on quoted market prices can be estimated at $ 924 million.
Natural monopoly cement
Throughout most of presidency of Jose dos Santos in Angolathere was only one cement factory, which owned company Nova Cimangola.In mid-2004 the state owned 39.8% of the shares, captive bank Sonangol - BAI - 9,5%, and another 49% owned Swiss company Scanang, which absorbed at that time the Portuguese cement producer Cimpor.
The Angolan Government has demanded a greater share in the company, claiming that the cement plant is a strategic asset for the country's reconstruction after the Civil War.In autumn 2006, the Cabinet of Ministers issued a resolution approving the allocation of $ 74 million to buy out the share of Cimpor.From the text of the resolution indicated that the spending necessary to protect the "public interest, for the restoration of the rule of law and control of Nova Cimangola from organizations registered in Angola."According to publications in the Angolan press, the $ 74 million allocated bank BIC, which, recall, controlled by Isabel dos Santos and her partner Americo Amorim.After the transaction the state had received 89% of the shares of the cement plant, the remaining 11% owned by BAI and the Angolan private investors.
In the future the state has transferred its stake in the company cement plant Ciminvest, registered in Angola.At some point, the Portuguese billionaire Americo Amorim owned about 30% Ciminvest, but his representative claims that in 2009 he handed over his share.Who - unknown as unknown, and the sale price.The real owners of the company are Isabel dos Santos, the Board of Directors vozglavyayuschaya Nova Cimangola, and her husband.
In January 2013, after Forbes announced Isabel dos Santos, a billionaire, a mouthpiece of the government and the country's only daily newspaper Jornal de Angola said that "we are doing everything possible to rid Angola of poverty, and in this hour we are encouraged by the news ofthat businesswoman Isabel dos Santos became an authority in the world of finance.It's good for Angola and it fills Angolans proud. "And yet, Angolans should feel no pride, and insult.
«In a country with a real separation of powers and democracy, presidential actions enrichment of his family would have led to lawsuits and impeachment - said the lawyer Salvador Freire, head of the human rights groups Maos Livres.- But in Angola, dos Santos is the law. "
Photo Source: blogspot.com
Articles Source: forbes.ru