Report: Angolan billionaire Isabel dos Santos is being sued for unpaid loans [around $400 million]

Talk radio 702 Bongani Bingwa interviews Africa Report correspondent, Crystal Orderson (skip to 2:38).

Africa’s first female billionaire and daughter of former Angolan president, Isabel dos Santos, has found herself in the hot seat…once again.

According to a ruling by London’s High Court, dos Santos can be personally added to a $400 million lawsuit.

This lawsuit has been brought by Angolan telecoms operator Unitel against the company dos Santos owns.

Unitel has sued dos Santos’ company for alleged loans that were received in 2012 and 2013.

The total loan amount, excluding interest, sits at around $395 million, roughly R7 825 277 850.00.

Orderson adds that the Angolan government has seized about $1 billion of dos Santos’ assets.

Dos Santos denies any wrongdoing.

Listen the Podcast below:}

By Crystal Orderson, Journalist and Africa Report correspondent

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