Jose Filomeno dos Santos sacked from Angola's sovereign fund

Angola

The Angolan president has sacked the son of former president Dos Santos, José Filomeno Dos Santos, as the head of the country’s sovereign wealth fund.

Joao Lourenco who marked 100 days of his presidency on Tuesday indicated that there might be changes in the leadership of the $5 billion fund, depending on the results of an external inquiry into its performance and governance.

The Angolan president has sacked the son of former president Dos Santos, José Filomeno Dos Santos, as the head of the country's sovereign wealth fund. Carlos Alberto Lopes is the new boss of the 5 billion fund.

— Zenaida Machado (@zenaidamz) January 10, 2018

The president who replaced the entire board of the fund has since appointed one time finance minister Carlos Alberto Lopes as the new boss of the fund.

In November 2017, the president fired Isabel Dos Santos from her position as head of Angola’s state oil company, Sonagol.

The radical reforms of the new president that have seen over 60 government officials fired have raised speculation of strained relations between Lourenco and former president Jose Eduardo Dos Santos.

Both have denied the allegations, with president Lourenco saying the ‘relations are normal’ and Dos Santos leading the ruling People’s Movement for the Liberation of Angola (MPLA) party in backing the reforms.