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Milutin Sredojević unveiled as new head coach of Zambia1 minute read

Sredojević signs two-year deal to take charge of Chipolopolo

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The Zambian football association have unveiled Milutin Sredojević as the new head coach of the Zambia national football team.

The appointment was announced in Lusaka on Monday after weeks of speculation. He has signed a reported two-year deal.

The Serbian takes over from Mumamba Numba who was acting as caretaker coach following the departure of Sven Vandenbroeck, who left his post after failing to lead Zambia to the 2019 Africa Cup of Nations in Egypt.

The former Orlando Pirates coach last served as the head coach of Zamalek. The 50-year-old left Pirates for Egypt in August, but lasted only four months before getting the sack.

Sredojević, who guided Rwanda to the group stages of the 2014 World cup qualifiers returns to national team coaching.

FAZ will hope the well travelled coach can lead the Chipolopolo back to the summit of African football.

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Angola’s Former Leader Ordered $500 million Funds transfer

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In a statement that may help the defense of one of his sons who is standing trial for money laundering, Angolan President, Jose Eduardo dos Santos has disclosed that he ordered a $500-million transfer from the central bank to an overseas account before stepping down.

The former president’s two most high-profile children are under increased scrutiny from prosecutors probing how they amassed their wealth during their father’s 38-year rule.

While the 77-year-old former leader is immune from prosecution until 2022, his daughter, Isabel was named last month as a suspect in an investigation over alleged mismanagement at state oil company, Sonangol.

In 2018, his son Jose Filomeno, alongside former central bank Governor, Filipe da Silva and two others, were accused of crimes including participation in unlawful business, money laundering, embezzlement and fraud for the money transfer to a U.K. account in 2017. Their trial began in December last year.

According to Jose Eduardo dos Santos, the transfer was needed to set up a strategic investment fund and finance Angola’s ailing economy.

Former head of Angola’s $5 billion sovereign wealth fund, Jose Filomeno says the trial is politically motivated while the country’s former central bank governor, Filipe da Silva has denied any wrongdoing, saying he was just following presidential orders.

It was meant to be the first of three transfers totaling $1.5 billion.

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Politics

Ex-president dos Santos defends son over $500m embezzlement in Angola

Dos Santos’ family are in the spotlight after his billionaire daughter was indicted in Angola last month for a host of high-level financial crimes in the oil-rich nation.

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Jose Filomeno dos Santos, former Chairman of Fundo Soberano De Angola (FSDEA)./Mutesi.net

Angola’s ex-president, Jose Eduardo dos Santos has defended his son and a former central bank governor who are accused of embezzling $500 million from the country’s sovereign wealth fund, court documents showed Tuesday. 

Dos Santos’ family are in the spotlight after his billionaire daughter was indicted in Angola last month for a host of high-level financial crimes in the oil-rich nation, an AFP report said. 

The ex-leader’s son, Jose Filomeno dos Santos, is accused of embezzling $500 million (460 million euros) from state coffers during his tenure as head of Angola’s sovereign fund.

He is charged alongside the former governor of the national bank of Angola (BNA), Valter Filipe da Silva, and two others. 

The four defendants are accused of transferring the funds to a Swiss bank during the dos Santos presidency, in a case that has rocked the powerful former first family.

But the former leader, who currently lives in Spain, said the transfer was meant to guarantee a $30 billion investment into Angola to “improve the life of the population”. 

“I authorised the transfer of the $500 million,” Santos said in a written response to questions sent to him by judges and read in court Tuesday. 

“The actions were carried out for the country’s economic situation… not in the personal interest of the people who executed it,” he added in the statement dated February 6. 

The judge accepted the ex-president’s response despite complaints by the prosecution that the document was not original and was only signed on the final page.

Jose Filomeno dos Santos, nicknamed “Zenu”, is the first member of the ex-president’s family to be prosecuted. 

Both Zenu and da Silva have denied the allegations.

“These acts were part of the mandate that was given by the former president,” da Silva’s lawyer Sergio Raimundo told reporters after the hearing. 

In all, Zenu is accused of trying to steal as much as $1.5 billion (1.38 billion euros) during his 2013-2018 stewardship of Angola’s sovereign fund.

The trial is taking place alongside allegations against Isabel dos Santos, the ultra wealthy daughter of the ex-leader who is accused of money laundering and influence peddling.

The charges against her followed the January publication by international media outlets of a probe dubbed “Luanda Leaks” that claimed she fraudulently accumulated fortune estimated at $2.1 billion (1.9 billion euros).

Resource-rich Angola is ranked 146 out of 180 countries on Transparency International’s corruption perceptions index.

Most of the country’s 30 million people live in poverty, failing to benefit from the flood of dollars from crude oil and diamonds.

US Secretary of State Mike Pompeo on Monday lauded Angolan President Joao Lourenco’s anti-corruption drive, which has seen him pursue the dos Santos family.

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Politics

Portugal freezes Isabel dos Santos bank accounts

The public prosecutor’s office requested the seizure of bank accounts belonging to Isabel dos Santos as part of a request for international judicial cooperation by the Angolan authorities.

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Isabel dos Santos heads to court to sue 'Luanda Leaks' journalists
Isabel dos Santos, daughter of former Angolan president./AFP

The Portuguese government has ordered the seizure of bank accounts belonging to Isabel dos Santos, who is a suspect in a fraud investigation in Angola, the country’s public prosecutor said on Tuesday.

Dos Santos, the daughter of former Angolan president Jose Eduardo dos Santos, was not immediately available for comment, a Reuters report said. She has repeatedly denied any wrongdoing in the past weeks.

“The public prosecutor’s office requested the seizure of bank accounts (belonging to Isabel dos Santos) as part of a request for international judicial cooperation by the Angolan authorities,” a spokeswoman for the prosecutor’s office said.

Portugal’s central bank declined to comment

Last month, Angola named dos Santos a formal suspect over allegations of mismanagement and misappropriation of funds during her time as chairwoman of state oil company Sonangol.

Dos Santos has repeatedly denied any wrongdoing.

Angolan authorities froze her assets in the African country in December.

A banking source familiar with the case told Reuters that accounts held by dos Santos were seized at Millennium bcp, Portugal’s largest listed bank.

Millennium bcp declined to comment on Tuesday.

Another banking source said accounts were seized at small Portuguese bank EuroBic, in which the businesswoman until recently held a 42.5% stake. Spanish bank Abanca said on Monday it had agreed to buy 95% of EuroBic shares.

Eurobic declined to comment.

Dos Santos also sold her controlling stake in Portuguese engineering firm Efacec last month.

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