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Luanda Leaks: Bank of Namibia ‘went easy’ on Isabel dos Santos

February 7 2020 by Lionel Faull and Lazarus Amukeshe 

Secret documents suggest Namibia’s central bank gave Isabel dos Santos’s bank the green light to open branches in the southern African nation without completing due diligence on her businesses.

Namibian financial regulators also allowed the bank to trade even though it was completely owned by overseas shareholders. This is in direct contravention of Namibian policy objectives aimed at capping foreign ownership in key business sectors.

Lionel Faull, and The Namibian’s Lazarus Amukeshe made these discoveries by trawling confidential financial records exposing the business dealings of Africa’s richest woman, as part of the Luanda Leaks international journalism project.

Read more on The Namibian and Finance Uncovered