The political reformation by President JoÃ£o LourenÃ§o of Angola has thrown Africaâs richest woman, Isabel dos Santos out of job.
Isabel was earlier today, November 16, 2017, sacked as the chief of Sonangol â Angolaâs state-run oil firm by the new Angolan President who succeeded her father.
Isabel is the first daughter of former Angolan presidentÂ JosÃ© Eduardo dos Santosâwho ruled the African country for 38 years before stepping down in August 2017. According toÂ Forbes, she is estimated to worth $3.5 billion, thus making her the wealthiest woman in the continent.
This move as noted is part of plans by President LourenÃ§oÃ¡ to curtail the power of the dos Santos Dynasty in the Southern African country. Also, some of these reforms is a confirmation of LourenÃ§oâs vow during his campaign to distance himself from the legacy of his predecessor.
Angola is one of Africaâs most oil-rich countries with Nigeria as rival for the status of Africaâs biggest oil producer. Oil export accounts for over 93 percent of the countryâs export and a major part of government revenue.
According toÂ Reuters, the presidency did not give a reason for the dismissal of dos Santos but was immediately replaced withÂ Carlos Saturnino.
Despite this unexpected relief, Isabelâs fortune may not be affected due to her huge investments in other major companies in the country and Portugal.