By Herculano Coroado

 

LUANDA, 28 April. - (ANA) - The most powerful body in Angola’s ruling MPLA party said on Friday it had approved the candidacy of state president Joao Lourenco to become head of the party, replacing his predecessor as head of state Jose Eduardo dos Santos.

 

 

The sovereign wealth fund of Angola (FSDEA), Africa’s No. 2 crude producer, “is taking steps to remove” Swiss-based Quantum Global as its asset manager, it said on Friday.

 

“FSDEA has great concerns about Quantum Global’s approach to investment of the FSDEA funds, as it believes that is not fully aligned with the principles for which the FSDEA was established,” the fund said in a statement.

 

Quantum Global could not immediately be reached for comment.

 

The move comes two weeks after Mauritius froze bank accounts and suspended business licences linked to Quantum Global Investments Africa Management. 

 

QG Investments Africa Management, which said it was cooperating with authorities in Mauritius, is run by Jean-Claude Bastos de Morais, a business partner of Jose Filomeno dos Santos and the director of Quantum Global Investment Management.

 

Jose Filomeno dos Santos, the son of José Eduardo dos Santos, Angola’s former president, was until recently the head of Angola’s sovereign wealth fund.

 

The younger dos Santos has been charged with fraud against Angola’s central bank, involving the transfer of $500 million in Britain.  - (ANA) -

 

AB/ANA/ 28 April 2018 - - -