Property seized in Angola with an estimated value of US$532.3 million

14 February 2020

The properties built with public funds and seized by the Attorney-general of the Republic of Angola in Zango Zero and in Kilamba are valued at US$532.3 million, according to officials.

The source quoted by the Angop news agency said that the value is for more than 1,000 unfinished buildings, construction yards and land, in the Vida Pacífica urbanisation (Zango Zero) and in Kilamba, seized by the Attorney-General’s Office (PGR), last Tuesday.

The buildings were in the possession of the China International Fund CIF, Limited (CIF Hong Kong) and China International Fund Angola – CIF, Limitada.

According to a source from the PGR, the ownership of these public assets was attributed to Angolan citizens Fernando Gomes dos Santos and Samora Borges Sebastiao Albino, shareholders of the China International Fund (CIF).

The source from the PGR quoted by the agency said that, in addition to the seizure of state-owned assets, criminal proceedings have been launched, in which these two nationals may be accused of crimes of corruption, trafficking of influence and other financial crimes.

The list of assets seized, at the request of the National Service for Recovery of Assets, includes 24 buildings, two nurseries, two nautical clubs, three building yards and their adjacent land, a total area of 114 hectares in the Vida Pacífica (Peaceful Life) urbanisation (Zango Zero), municipality of Viana, Luanda.

The list also includes 1,108 unfinished buildings, 31 bases for the construction of buildings, 194 bases for the construction of houses, a shipyard and their adjacent land, in an area of 266 hectares, located in the urban district of Kilamba, municipality of Belas, in Luanda.

CIF Limited is a private company with headquarters in China and Hong Kong and an office in Beijing, founded in 2003, to finance projects for national reconstruction and development of infrastructure in developing countries, especially in Africa. (macauhub)