Few names in Africa’s business sphere spark as much intrigue, debate, and influence as Isabel dos Santos. Once recognized as the richest woman in Africa, the Angolan businesswoman has built a portfolio that spans telecommunications, energy, banking, and retail, making her one of the most talked-about figures on the continent.
Born in 1973, Isabel dos Santos is the eldest daughter of José Eduardo dos Santos, Angola’s former president.
While her proximity to power provided early access to high-level networks, her journey into entrepreneurship paints a more complex picture — one shaped by strategic investments, calculated risks, and an unwavering belief in the transformative power of private capital in Africa.
Educated at King’s College London in electrical engineering, dos Santos entered the corporate world with a technical mindset — a trait that would become instrumental in shaping her investment decisions.
Her first entrepreneurial venture, Miami Beach Club, was a nightclub in Luanda that signaled her appetite for business beyond family influence.
From there, she pivoted into more significant sectors. Her stake in Unitel, Angola’s largest mobile phone operator, not only positioned her at the center of Angola’s telecom revolution but also laid the foundation for her international business presence.
Through ZON Multimedia (now part of NOS), a Portuguese telecoms company, she began expanding her influence into European markets, asserting her ambition to operate across borders.
Dos Santos made notable moves in Angola’s oil and energy sector, particularly through Sonangol, Angola’s state-owned oil company, where she was appointed chairwoman in 2016.
Her tenure, although short-lived due to political shifts, reflected her strategic positioning in a sector that is central to Angola’s economy.
Banking also became a major focus. She held significant stakes in institutions like Banco BIC and Banco de Fomento Angola (BFA), giving her influence over financial flows that power business operations across the Lusophone world.
These investments further solidified her position as a woman capable of navigating traditionally male-dominated industries with assertiveness.
The narrative of Isabel dos Santos is not without its shadows. Following the end of her father’s presidency, scrutiny intensified around her wealth and business dealings.
In 2020, a leak of over 700,000 documents — the so-called Luanda Leaks — alleged that dos Santos amassed her fortune through exploitative deals enabled by political connections.
Her assets in Angola and Portugal were frozen, and multiple investigations ensued. Dos Santos has consistently denied any wrongdoing, framing the allegations as politically motivated. In interviews, she has stressed her commitment to transparency and her willingness to fight for her name and business legacy.
Despite the mounting legal challenges, Isabel dos Santos remains an emblem of resilience in Africa’s business narrative.
She continues to engage in philanthropic efforts and has voiced support for women’s inclusion in entrepreneurship, often advocating for increased investment in digital innovation and infrastructure development across the continent.
Whether viewed as a savvy business strategist or a figure mired in controversy, Isabel dos Santos’s impact on African capitalism is undeniable.
Her story is one of ambition — one that has traversed engineering, international business, and high-stakes boardrooms.
As Africa’s economies evolve and calls for governance and accountability grow louder, dos Santos’s journey offers both a mirror and a lens: reflecting the complexities of wealth and influence on the continent, while also refracting broader conversations about women in leadership, access to capital, and legacy-building in emerging markets.
