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Vol 58 No 7

Published 31st March 2017


Angola

Bank scandals hit MPLA hard

Leaked bank documents reveal the extent of capital flight for which members of the party elite are responsible

The timing could scarcely have been worse. João Lourenço, the ruling Movimento Popular de Libertação de Angola's candidate to succeed President José Eduardo dos Santos, was claiming under banner headlines in the heavily government-influenced mass media that the fight against corruption would be a top priority. Then, the Banco Espírito Santo (BES) banking scandal came back to belie his words and embarrass the party. Leaked inter-bank correspondence revealed the enormous wealth the MPLA elite has salted away abroad.

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