Thread by @OpenSecretsZA

Though it's hardly surprising that the daughter of 1 of Africa’s longest serving presidents enriched herself through rigged procurement processes- Isabel dos Santos' corruption is an important reminder that the global financial economy is a key enabler of corruption. #LuandaLeaks

The #LuandaLeaks by @PPLAAF & @ICIJorg show how dos Santos built a business empire with more than 400 companies & subsidiaries in 41 countries. Many of these countries are in known secrecy jurisdictions/tax havens like Malta, Dubai, Mauritius & Hong Kong.
icij.org/investigations…

@PPLAAF @ICIJorg Over the past decade, these companies got consulting jobs, loans, public works contracts & licenses worth billions of dollars from the Angolan government. The key facilitators of this included Big 4 auditing/consulting firms like @PwC, banks & law firms. #LuandaLeaks

@PPLAAF @ICIJorg @PwC Isabel dos Santos' father, José Eduardo dos Santos, is an MPLA veteran of the Angolan war of independence. He rose to power in 1979 & remained president till 2017. His presidency was characterised by endemic corruption involving the state owned oil company Sonangol. #LuandaLeaks

@PPLAAF @ICIJorg @PwC .@ICIJorg's website provides a great visual explainer which shows Angola's history from 1575. It shows how this kleptocracy came to be & how dos Santos' family has plundered the country from 1979.

icij.org/investigations…

@PPLAAF @ICIJorg @PwC Implicated in Isabel dos Santos' corruption are banks such as EuroBic & CitiGroup, consultants @BCG & @McKinsey, auditors @PwC and law firm Viera de Almeida. Together these firms helped legitimise/ mask dos Santos' corruption for a profit.

It is no surprise that lawyers, accountants, banks, consultancy & PR firms have played a role in this grand corruption, the same industry enabled #statecapture in SA. These professionals have become the constant for any state capture enterprise. #LuandaLeaks