Africa Monitor

Africa Monitor Intelligence

Angola: Benguela Railway in Renaissance

Trafigura established itself in the Angolan market through its fuel distributor – this time under the name Pumangol. The operation involved the purchase of a portion of Trafigura's capital by an Angolan company, DT, to which prominent figures of the Angolan regime of the previous PR period were linked, including LEOPOLDINO DO NASCIMENTO (“Dino”).

This stake would, however, be repurchased by Trafigura itself, which paid USD 390 million for it. The money was pocketed by the State as a result of an “asset recovery” process launched at the beginning of the current PR´s mandate and applicable to businesses in which it was considered that funds diverted from the treasury had been invested. READ MORE