Search Results for “Grecima”

Crashing Oil Prices, Propaganda and the Angolan Recipe for Disaster

28 de January de 2015 Rafael Marques de Morais

Throughout the Angolan capital, Luanda, strategically located billboards announce a country being happily stewarded through development by the government. “Building a prosperous Angola based on solidarity”, is the boastful slogan across all ads celebrating the government’s achievements in all spheres of life. One such billboard celebrates “more electricity, more development”, in spite of the regular power outages. Such a massive propaganda exercise outside the electoral period has a precedent only in the early 1970s, when the Portuguese colonial authorities desperately tried to sell the idea that their rule was making people very happy, and independence could ruin all such great achievements. Nonetheless, this propaganda is in full swing at a time when the steady drop in the oil price on international markets could be good news for the Angolan people and a bad omen for their rulers. As a major countermeasure, last December the presidency decreed a 20 percent rise […]

From the President to his Family: The Drainage Ditch

24 de January de 2013 Maka Angola

By Alfredo Muvuma Years ago, a high-ranking MPLA politburo member praised the business acumen of President José Eduardo’s children. More recently, the state-owned and only daily newspaper Jornal de Angola awarded Isabel dos Santos the title of entrepreneur of the year for 2012. In both cases, the objective was to sell the notion that there is a genuine business talent, within the Dos Santos’s family, to accumulate vast wealth. Forbes places Isabel dos Santos as the first Africa’s woman billionaire, which it estimates as the value of her legitimate shares in UNITEL, BIC Bank and in Portugal. Meanwhile, the State Budget Bill for 2013, passed days ago by the National Assembly, uncovers the farce: there is no mystery behind the enrichment of the Dos Santos clan and its entourage. Article 11 of the bill explains, in part, how the Angolan president and his cronies accumulate fortunes without sweating, much less […]