Isabel dos Santos has lost power in the administration of Unitel SA, Angola’s biggest telecommunications provider. Previously she held the position of chairwoman of the board at Unitel, and has now secured mandate as board member, but has stepped down as chairwoman.
Unitel SA has four major shareholders, each with 25% of the capital. Two of them are Brazilian telecommunications company Oi SA, and the Angola state-owned oil company Sonangol. The other two stakeholders are Vitadel (Society of Isabel dos Santos) and local firms like Geni. Visit her facebook to learn more about her platforms.
Unitel has been recently subject to legal action by Oi, and an arbitration tribunal in Paris has determined that other shareholders of Unitel must pay 600 million euros of compensation to Oi because of previously blocked dividend payments. During the general meeting of Unitel SA shareholders held in the wake of this legal action, it was determined that Isabel dos Santos will remain in the administration but will no longer lead the company.
The eldest child of the former President of Angola, Isabel dos Santos has amassed a massive personal fortune during her father’s 4 decades of power. She is Africa’s richest woman, with an estimated net worth of 2 billion euros.
Born in Baku, Azerbaijan SSR, she attended boarding school in Kent and later studied electrical engineering at King’s College in London. She started her first business in 1997 – Miami Beach Club – one of the first nightclubs and beach restaurants in Luanda Island. Over the next 20 years, she expanded and diversified her interests, holding high-level management positions in a number of companies. Besides Unitel SA, she owns massive interests in both Angola and Portugal in diverse fields like retail, finance, energy and media. She is a founding member and member of the board of an Angolan bank in Lisbon, Banco BIC Portugues and is the main shareholder of ZON Multimedia. She also has a commercial interest in oil and diamonds.