Portugal Dominated Angola for
Centuries. Now the Roles Are Reversed.
LISBON — How the roles have reversed:
The colonizer, some Portuguese contend, has been colonized.
By NORIMITSU ONISHIAUG. 22, 2017
The Estoril Sol Residence in Cascais, Portugal, is often
referred to as the “Angolans’ building.” Credit View Pictures/UIG, via Getty
Images
On the Portuguese coast of Cascais, where the nation’s royal
court used to summer, a new 14-story condominium building looms confidently by
the sea. So many of its apartments have been bought by Angola’s ruling class —
sometimes a handful at a time — that the development has a nickname: the
“Angolans’ building.”
Along the grandest shopping boulevard in the capital,
Lisbon, Angola’s elite buy designer suits and handbags by the armful. And on one
corner, above Louis Vuitton, sits the local office of Africa’s richest woman,
Isabel dos Santos, a billionaire from Angola who has become one of Portugal’s
most powerful figures by buying large chunks of the country’s banking, media
and energy industries.
The money flowing into Portugal comes from the colony it
dominated, often brutally, for hundreds of years, Angola. Now, the African
nation is a major oil producer that has been led for the last 38 years by Ms.
dos Santos’s father, President José Eduardo dos Santos.
Angola’s ruling class has profited so much during his tenure
— and channeled so much of that money into Portugal — that when Angola
threatened to cut off ties in recent years in response to reports that Angolan
officials were being investigated for corruption in Portugal, Portugal’s
foreign minister promptly apologized, setting off an intercontinental debate
about the changing power dynamics between the nations.
“We had it in our heads that Angola was a poor country that
needed to be helped,” said Celso Felipe, a Portuguese journalist and author of
the book “The Angolan Power in Portugal.”
“And suddenly they were able to help us and to buy things
that we cannot buy,” he said. “It was like a housekeeper buying your house.
That is awkward.”
The conditions in both countries created a perfect match: As
Portugal reeled from a financial crisis a few years ago, Angolans were enjoying
an oil boom that provided enormous opportunities for self-enrichment by the
elite, particularly the president’s family and inner circle.
Angola is often listed as one of the world’s most corrupt
nations. And Portugal has been singled out for its laxness in reining in money
laundering and bribery, particularly in its dealings with Angolans, according
to the Organization for Economic Cooperation and Development, the research and
policy organization of the world’s richest countries.
“In Angola, they call Portugal the laundromat,” said Ana
Gomes, a Portuguese lawmaker in the European Parliament and a member of
Portugal’s governing Socialist Party. “It’s because it is.”
But the two nations’ relationship has now slipped into a
tense and fluid period. Oil prices are down and Portugal’s economy is reviving,
leading to a tweaking in the balance of powers between the two countries. And
Mr. dos Santos is due to step down after Angolans elect a new president on
Wednesday, leaving the future of those who have benefited from his four decades
in power — both in Angola and in Portugal — unclear.
In a case that has angered the Angolan government, Angola’s
vice president, Manuel Vicente, was charged in February with paying a $810,000
bribe to a Portuguese judge to quash a corruption investigation, the furthest
an Angola-related case has moved in Portugal’s judicial system. The vice
president was accused of, among other things, laundering money by buying
apartments in the “Angolans’ building” on the coast of Cascais. He has denied
the allegations.
With billions invested in Portugal, including in some of its
biggest public companies, the Angolans have bought Portuguese wineries,
newspapers, sports teams and other trophies of the super rich. With Portugal
giving them access to the rest of Europe and beyond, they have been catapulted,
in a few short years, to the world’s jet set.
The Lisbon headquarters of NOS, the Portuguese telecom
company in which Isabel dos Santos, the oldest child of Angola’s president, own
shares. Credit Patricia de Melo Moreira for The New York Times
Projecting both glamour and gravitas, Ms. dos Santos, worth
$3.5 billion according to Forbes, mingles with Hollywood and European
celebrities, and recently gave a speech at the London School of Economics — all
of which she has documented on her Instagram account.
In the past two years, her family has made a splash at the
Cannes Film Festival: Ms. dos Santos sat in the front row of fashion shows, and
Kim Kardashian cooed over a 404-carat diamond paraded at a party thrown last
year by de Grisogono, the Swiss jeweler now owned by the dos Santos family.
“Thought I’d seen it all, this is the biggest diamond I’ve
ever seen,” Ms. Kardashian tweeted.
Ms. dos Santos was upstaged this year at Cannes only by her
younger half brother, Danilo dos Santos, who was recently granted major shares
in a new Angolan bank, according to the Angolan news media as well as
politicians and businessmen in Luanda, Angola’s capital. At a charity auction,
Mr. dos Santos, who is in his mid-20s, made the winning bid of 500,000 euros,
or about $590,000, for a collection of photographs.
In the next few hours, as video of the auction spread on
social media, his spending caused widespread outrage in Angola, where poor
health care contributed to a yellow fever outbreak that killed more than 350
people last year.
But in the moment, basking in the applause, Mr. dos Santos
and a companion walked up to the stage and were hugged by the M.C., the star
Will Smith, who shouted, “500,000 euros! Yes, yes, yes!”
Mr. Smith added, “They look way too young to have 500,000
euros.”
Upmarket high-rise apartment buildings in Luanda, the
Angolan capital. The oil boom disproportionately benefited the country’s ruling
elite. Credit Joao Silva/The New York Times
Scrutiny Over Investments
Angola had been at war — fighting for independence, and then
locked in a civil war — for four decades by the time peace arrived in 2002.
Peace coincided with an extended oil boom that eventually propelled Angola,
with only 25 million people, to become one of the top 20 oil producers in the
world.
The boom disproportionately benefited Angola’s governing
elite, who moved enormous sums abroad. Between 2002 and 2015, Angolan companies
and individuals poured $189 billion outside the country into often opaque
investments, according to the Catholic University of Angola’s Center for
Studies and Scientific Research in Luanda.
Inside Angola, one of the world’s most unequal societies,
half of the working population lives on less than $3.10 a day.
Meanwhile, its former colonial ruler, Portugal, suffered
from a financial crisis that forced it to obtain a $111 billion bailout from
international creditors and downgraded its national debt, rated junk to this
day. Portugal was desperate for investment.
António Monteiro, a former foreign minister of Portugal and
the chairman of the country’s largest private bank, Millennium BCP, said that
investments from Angola had helped many Portuguese companies survive, including
his bank.
“It was an investor that was very welcome and, in certain
moments, the only investor in Portugal,” he said.
The problem was how the money was obtained.
Politicians and businesspeople in both countries say that
Angola is dominated by allies of the president with tentacles in every corner
of the economy, allowing them to amass great fortunes in politically connected deals
under mysterious circumstances.
As Angola’s ruling elite sought to safeguard its wealth
outside their country — knowing that Mr. dos Santos’s rule would eventually end
— Portugal’s political and business elite more than obliged.
A billboard in Luanda congratulating President José Eduardo
dos Santos of Angola on receiving 99.6 percent of the vote last year in his
party’s leadership contest. Credit Joao Silva/The New York Times
“If Angola was the front office of corruption, Portugal was
the back office,” said João Batalha, the president of the Portuguese chapter of
Transparency International.
In a scathing report, the O.E.C.D.’s working group on
bribery said that Portugal’s “enforcement of the foreign bribery offense has
been extremely low” — pointing out that cases involving Angola accounted for a
third of all such bribery allegations against Portuguese firms. In a March
report on money laundering and financial crimes, the United States State
Department said, “Suspect funds from Angola are used to purchase Portuguese
businesses and real estate.”
Portugal’s foreign minister, Augusto Santos Silva, said that
the Portuguese judicial system investigated illicit investments without
political interference. He said it had been a “mistake” for one of his
predecessors, responding to news media reports that high-ranking Angolans were
being investigated in Portugal, to visit Angola and apologetically take the
Angolans’ side.
Still, Mr. Silva said that Angola’s growing power was a
positive development. Unequal postcolonial relations, he said, would carry “the
flavor of neocolonialism.”
Portuguese business leaders say that Angolan investments
unfairly attract the kind of scrutiny that money from elsewhere, including
China, does not.
Luis Míra Amaral — who until last year was chief executive
of Banco Bic Portugal, a bank whose biggest shareholder is Isabel dos Santos —
said that in Angola and some other African states, the same individuals tended
to be both political and business leaders.
“It’s not realistic that a small country like Portugal would
be able to change that,” said Mr. Amaral, a former Portuguese minister of
industry and energy.
Mr. Amaral said that all Angolans had to “justify the money”
they put into Portuguese banks by showing assets in Angola, to help prevent
money laundering.
“When I see Isabel dos Santos putting money into Portugal
because she has a number of big companies in Angola,” he said, pointing to her
big stake in Unitel, Angola’s biggest cellphone operator, “it is easy to
justify.”
“After, you can put another question: how she was able to
create this company,” Mr. Amaral added with a laugh. “It’s another question.
It’s not my problem as a banking manager.”
Isabel dos Santos, second from right, with her husband,
Sindika Dokolo, right, and the actor Chris Tucker and the singer Rita Ora in
the de Grisogono showroom during the Cannes Film Festival in May. Credit Dave
Benett/Getty Images
Jewels, Phones and Banking
On her Twitter account, Ms. dos Santos identifies herself
with just one word: entrepreneur.
Helped by public relations officials in Lisbon, Ms. dos
Santos has put forward an image of herself as a self-made businesswoman. In a
2013 interview, she told the Financial Times that she had had business sense
from a young age and sold chicken eggs when she was just 6.
In a written reply to emailed questions, Ms. dos Santos told
The New York Times that the egg anecdote was meant “to show that since a young
age I had an entrepreneurial spirit.”
But in Angola, the story about the eggs fueled widespread
ridicule and anger.
Asked whether it was possible that Ms. dos Santos’s fortune
was self-made, Marcolino Moco, a former prime minister of Angola, said, “It’s
possible to make us laugh. All her wealth comes from the fact that her father
is the law.”
The oldest child of Angola’s president, Ms. dos Santos, 44,
has gained large or controlling shares in Angola’s diamond, cellphone, banking
and other industries over the years.
In her email, Ms. dos Santos said that, beginning in the
early 1990s, she had started “a small beverage distribution and logistics
business,” as well as a restaurant, an event production company and a
walkie-talkie business.
Ms. dos Santos did not say where she had obtained the
capital to invest in those businesses or in Unitel, which she now controls. She
has also acquired big stakes in Portugal’s banks, the Portuguese energy giant
Galp, the Portuguese telecommunications company NOS, and other businesses.
In 2015, Transparency International included Ms. dos Santos
on a list of 15 cases that symbolized “grand corruption.” She responded by
saying that her investments were “transparent.”
Last year, her father appointed her chief executive of
Sonangol, the state oil company that the president has used over the decades to
further political and business interests. A group of lawyers has tried
unsuccessfully to remove Ms. dos Santos from her post, arguing that she, with
no management track record or experience in the oil industry, was appointed by
her father to erase evidence of her father’s embezzlement at Sonangol before he
steps down.
The downtown Luanda headquarters of Sonangol, the Angolan
state oil company, of which Ms. dos Santos is the chief executive. Credit Joao
Silva/The New York Times
Rui Amendoeira, a partner at Vieira de Almeida, a Lisbon law
firm hired by Ms. dos Santos to help run the oil company, said he had no
comment on the case or on Ms. dos Santos.
Her appointment as head of the state oil company gave Ms.
dos Santos another platform internationally. In March, she was a speaker at the
annual CERAWeek energy conference in Houston. In April, she spoke about being
an entrepreneur at the London Business School.
Ms. dos Santos’s critics say she has tried to gain
respectability in the West by using her ill-gotten gains in Angola and
laundering them in Portugal — an accusation she rejects.
“In my book respectability is not achieved by mingling with
the ‘right people,’” she said in an email. “In my book respectability is
something you gain and achieve through a lifetime of work, and actions worthy
of esteem, coherent positive behavior, attitudes of good social standing and
building a reputation with your friends and peers.”
The stadium of Sporting Lisbon soccer club, whose major
shareholder is Álvaro Sobrinho, an Angolan businessman and former chief
executive of Banco Espírito Santo Angola. Credit Patricia de Melo Moreira for
The New York Times
A Continuing Inquiry
Respectability, some Angolans have found, can be acquired in
Portugal — and lost.
Álvaro Sobrinho, the former chief executive of Banco
Espírito Santo Angola, was born in Angola and now lives in Portugal, holding
dual citizenship. In Portugal, he became the major shareholder in Sporting
Lisbon, a major soccer team, and also bought two newspapers.
But he was eventually investigated by the Portuguese
authorities for his role in the bank, the Angolan subsidiary of Portugal’s
Banco Espírito Santo, which he headed for a decade until 2012. The bank was
accused of misappropriating $5.7 billion by giving out loans — to the political
elite and to Mr. Sobrinho himself — that were never repaid. Mr. Sobrinho has
denied all accusations and has not been charged despite the long investigation.
But he is now regarded as a “thief” in Portugal, he said. He
has sold off his newspapers. He said he had at least recovered his assets,
which the Portuguese authorities had frozen for a few years. A court reaffirmed
in May that the state cannot seize his assets, but prosecutors say that Mr.
Sobrinho is still being investigated.
His assets include six apartments he owns with his family in
Estoril Sol Residence in Cascais, the “Angolans’ building.” Brazilians,
Russians and Portuguese, including some who made money doing business in
Angola, also owned apartments but were never investigated for money laundering,
he said.
“Only Angolans,” Mr. Sobrinho said, with bitterness.
The resentment, though, did not detract from his enjoyment
of his apartments (“very beautiful, you can see the sea”) or of Cascais (“an
amazing place”).
“The king used to live there,” he added.
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