(Ecofin Agency) - The President of Angola, José Eduardo dos Santos (photo), is currently facing Court inquiry regarding the appointed of his daughter as the chief executive of state oil firm, Sonangol.
The Angolan Supreme court according to Reuters was acting in response to a case filed by 14 Angolan lawyers, accusing the president of favoritism and violation of the Angolan probity law.
Isabel dos Santos was appointed as the chief executive of state oil firm, Sonangol, in June. She was rated as Africa's richest woman by Forbes magazine, and was named CEO after the shocking dismissal of Sonangol's existing board by the President.
After being sworn in as chief executive, Isabel dos Santos announced plans to divide the company into three units handling operations, logistics and concessions to international oil companies.
While some analysts see the position as an arrangement for dynastic, family succession if the President dos Santos forges ahead on a declared intention to resign in 2018, others said he may be serious about bringing about change at the state oil firm.
The OPEC member outdid Nigeria as Africa's largest oil producer due to militant attacks and other problems that have cut the latter’s output.
The country has been affected by low oil prices that have resulted in reduction in expenditure and growth forecasts.
Anita Fatunji