Angola’s Lourenco will try sidelining Isabel

Significance

Isabel is currently facing fraud and money laundering charges in Angola, while ongoing investigative revelations have prompted various business entities, notably in Portugal, to cut ties with her.

Impacts

• EU officials view the 'Luanda Leaks' scandal as an opportunity to make progress in its fight against money laundering and corruption.
• An automatic information-sharing agreement between the Angolan and Portuguese tax authorities will further aid nascent investigations.
• Western consulting firms will be cautious of Angolan-based projects over the short term until the dust has settled on the 'Luanda Leaks'.