Angolan officials admit to hiding Cobalt shares

Three of Angola’s most powerful officials have acknowledged they hold concealed shares in an oil venture linked to Cobalt International Energy, the Financial Times reported on Monday.

The newspaper said the recently departed head of the national oil company and an influential general confirmed that they, along with another general, have held shares in Nazaki Oil and Gaz, the local partner in Cobalt’s oil venture in the country.

The article said Manuel Vicente, head of state-owned Sonangol until his appointment in January as minister of state for economic coordination, and General Manuel Helder Vieira Dias Junior, known as Kopelipa, head of the presidency’s military bureau, confirmed their holdings in letters.

The third official was identified by the newspaper as General Leopoldino Fragoso do Nascimento.

Vicente and General Kopelipa are cited as saying they exerted no influence over the award of Cobalt’s oil rights.

“Always respecting all Angolan legislation applicable to such activities, not having committed any crime of abuse of power and/or trafficking of influence to obtain illicit shareholder advantages,” the two officials are quoted as saying, in reference to their Nazaki interests.

Their interests were held through Grupo Aquattro Internacional. Aquattro, the Financial Times said, was named as a Nazaki shareholder in two company documents from 2007 and 2010.

US authorities are investigating the Goldman Sachs backed explorer’s Angolan operations, the paper added.

Cobalt could not be immediately reached for comment. — Reuters

Staff Reporter
Guest Author

ANC and the state step back from taking action against...

Despite alleged abuses of power and people’s trust, the ANC appears to have abandoned plans to reform the controversial Ingonyama Trust Board

Mkhwebane moves to halt ‘grossly unfair’ impeachment process

Mkhwebane moves to halt ‘grossly unfair’ impeachment process

Chaos theory: How Jürgen Klopp has harnessed the unpredictable

The Liverpool manager has his side playing unstoppable football but it’s the attention to detail off the field that has bred the success

Miners speak out against Sibanye

Not a year into buying Lonmin, Sibanye is accused of mistreating the mineworkers who were injured eight years ago during the Marikana massacre. But the platinum giant says it is a miscommunication. Athandiwe Saba and Paul Botes visit Marikana to find out the truth

Press Releases

Wellcome Trust award goes to UKZN mental health champion

Dr Andr? J van Rensburg, a senior researcher in UKZN's Centre for Rural Health, received the Wellcome Trust Discretionary Award.

MTN gears up to deliver improved customer service

On 28 January, the first batch of MTN contract customers will be migrated onto the new customer service platform.

Request for expression of interest on analysis of quality and outcome indicators for regional and district hospitals in Lesotho

Introduction The Ministry of Health of Lesotho with the support of the World Bank funded Nutrition and Health Systems Strengthening...

MiX Telematics enhances in-vehicle video camera solution

The company has launched the gold MiX Vision Bureau Service, which includes driver-coaching tools to ensure risky driver behaviour can be addressed proactively and efficiently.

Boosting safety for cargo and drivers

The use of a telematics system for fleet vehicles has proved to be an important tool in helping to drive down costs and improve efficiency, says MiX Telematics Africa.

Silencing the guns and firearms amnesty

Silencing the guns and firearms amnesty

Gender-based violence is an affront to our humanity

Gender-based violence is an affront to our humanity

UK-Africa investment summit 2020: Think Africa Invest SA

UK-Africa investment summit 2020: Think Africa Invest SA