Norimitsu Onishi New York Times August 22, 2017
LISBON — How the roles have reversed: The colonizer, some Portuguese contend, has been colonized. On the Portuguese coast of Cascais, where the nation’s royal court used to summer, a new 14-story condominium building looms confidently by the sea. So many of its apartments have been bought by Angola’s ruling class — sometimes a handful at a time — that the development has a nickname: the “Angolans’ building.” Along the grandest shopping boulevard in the capital, Lisbon, Angola’s elite buy designer suits and handbags by the armful. And on one corner, above Louis Vuitton, sits the local office of Africa’s richest woman, Isabel dos Santos, a billionaire from Angola who has become one of Portugal’s most powerful figures by buying large chunks of the country’s banking, media and energy industries. See full story.
Photo caption: Retiring Angola President José Eduardo dos Santos (on the right) has ruled Angola for close to four decades and will remain head of the ruling MPLA party. Dos Santos’s billionaire daughter Isabel heads Sonangol, the state oil company, and his son José Filomeno runs the country’s $5 billion sovereign wealth fund.