Angolan entrepreneur Isabel Dos Santos has been in dispute with the Angolan President, João Lourenço since the cancellation of the Urbinveste contract. It can be remembered that Urbinveste has been contracted to the project related to the Marginal da Corimba. However, the contract was canceled when President Lourenço accused Urbinveste in overbilling.
Claims made by Angola’s Executive of over-invoicing are unfounded. The consortium integrated by URBINVESTE presented a price of 154$/m2 for the reclaim of land in the Corimba Marginal Project, compared to a similar project in Dubai, Jumana Island, where reclaim cost was 227$/ m2.
— Isabel Dos Santos (@isabelaangola) May 20, 2019
Isabel Dos Santos took it to her official Instagram account and asserted that her good name and a good reputation will not be taken away from her. The businesswoman also elaborated how reputation and a good name are important in doing business, as it is the biggest basis of trust. Dos Santos has been handling a lot of successful business in the country and in other places, providing employment and making the economy better.
Because of Lourenço’s accusations, the Isabel Dos Santos mentioned how she has an added responsibility to her employees. To make sure that her decisions and actions day by day will help her employees and other people in the country, her management is dedicated to doing her businesses in a correct, just and legal way. She ended her Instagram post by quoting a statement from Paulo Coelho about the rainbow after the rain.
President João Lourenço canceled Urbanviste’s contract last May 17 and his reason is based on overbilling. In addition, Lourenço also made measures which clash directly against the interests of the Dos Santos family. Isabel Dos Santos is the daughter of the former Angola President Jose Eduardo Dos Santos. She claims that the accusations against Urbinviste are false and baseless as there is no evidence to show that the contract is overpriced. According to Jornal de Negocios, the contract price is said to be valued at 1.4 Billion Euros. Dos Santos was quick to point out that Urbinveste’s contract price is even lower than the same projects in Qatar, Dubai, and Indonesia.
Isabel Dos Santos is an entrepreneur known for her projects in Angola and other places in Africa. She is also an advocate of entrepreneurship, which she believes is the answer to some of Angola’s greatest problems. As of now, it is not known if Urbinveste will contest the decision.
For details: www.isabeldossantos.com/