İsabeldossantos, Luandaleaks

İsabeldossantos, Luandaleaks

How Western accounting firms have facilitated state looting in Africa | IOL News

OPINION How Western accounting firms have facilitated state looting in Africa @shanebrahim7 #isabeldossantos #LuandaLeaks

26.1.2020

OPINION How Western accounting firms have facilitated state looting in Africa shanebrahim7 isabeldossantos LuandaLeaks

This week Africa was rocked by the “Luanda leaks”, which uncovered the collusion between billionaire Isabel dos Santos and the “Big Four”.

The connivance of African political elites with Western accounting and consulting firms has enabled the wholesale looting of state-owned enterprises in Angola and South Africa, leaving our people poorer and our governments less capable of delivering essential services. The fact that 30% of Angola’s population lives on less than $1.90 (R27) a day, when the country is the second-largest oil producer in Africa, makes such sophisticated corruption networks a grave crime against the people of this continent. This week, Africa was rocked by the “Luanda leaks”, which uncovered more than 700 000 documents that expose the collusion between billionaire Isabel dos Santos, the daughter of former Angolan president Jose Eduardo dos Santos and the “Big Four” Western accounting firms, top consulting companies and banks that facilitated the looting of Angola. The International Consortium of Investigative Journalists was behind the release of the documents and has alleged that the international system has allowed powerful individuals like Dos Santos to move assets around the world without question. The documents were investigated by 37 media organisations in 20 countries. Dos Santos has been dubbed the richest woman in Africa, with an estimated net worth of $2 billion. But last month an Angolan court froze her and her Congolese husband Sindika Dokolo’s assets, claiming they, with Mario Leite da Silva, chairperson of Banco de Fomento Angola, caused the state to lose $1.1bn. The government now wants her extradited to Angola to face charges of money laundering, embezzlement and fraud. She denies the charges and claims a politically motivated witch hunt against her. Read more: IOL News

shanebrahim7 🤬 shanebrahim7 Every one has stolen from Africa. shanebrahim7 Privileged access to state funds....I hear you crystal clear shanebrahim7 Yes now it is white people's fault again shanebrahim7 The Big Four are supposed to verify the role of financial accounts for stakeholders, instead they developed tax avoidance practices and become facilitators of corruption and corporate malfeasance! LandNoli we need a africa-based global accounting firm.

shanebrahim7 There is no better thief like an accoutant

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Why it’s taken so long to prosecute state capture cases in South AfricaThe Asset Forfeiture Unit of South Africa’s National Prosecuting Authority (NPA) has confirmed that it is probing seven cases related to what has come to be known as “state capture”, involving R50 billion.

Why it’s taken so long to prosecute state capture cases in South AfricaThe Asset Forfeiture Unit of South Africa’s National Prosecuting Authority (NPA) has confirmed that it is probing seven cases related to what has come to be known as “state capture”, involving R50 billion. Simple,people to be prosecuted have also captured the justice system 🤷🏾‍♂️

Why it’s taken so long to prosecute state capture cases in South AfricaThe Asset Forfeiture Unit of South Africa’s National Prosecuting Authority (NPA) has confirmed that it is probing seven cases related to what has come to be known as “state capture”, involving R50 billion.

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26 January 2020, Sunday News

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