ANGOLA’S RICHEST WOMAN DEFENDS HER ENERGY COMPANY, EFACEC
EFACEC Power Solutions (EFACEC) is the largest Portuguese Corporation in the field of energy, engineering and mobility, with many subsidiaries of strong presence in different international markets including Africa.
Using Winterfell Industries – an offshore company, Ms. Isabel Dos Santos acquired a stake in EFACEC. According to Ms. Isabel Dos Santos, ‘EFACEC is a success story! When I bought it, EFACEC was practically bankrupt and in recent years thanks to hard work we got the following results: we closed 2018 with profits of 14.1€million, 83% more than the previous year, and sales of 433.2€ million, 1.5 million more than in 2017’
EFACEC has been active in the African energy space since 2017, winning an EPC and O&M contract in Mozambique to build and operate a 41MWp Solar Power Plant. EFACEC has also developed and participated in a wide range of projects in different points of the African continent, namely in the fields of transmission and distribution of energy, energy production, water and waste treatment and photovoltaic parks. Some of the most significant projects erected by Efacec are the construction and supply of a power transformer for the Laúca Dam (Angola); provision of SCADA and Energy Distribution Control Center for the regions of Luanda and Northern of Angola; Oran and Constantine Light Rail (Algeria); Mamba substation with 220kV capacity (Rwanda) and the Ait Massaoud Water Treatment Plant (Morocco).
Ms Isabel is an Angolan business woman, African’s richest woman and the eldest child of Angola’s former President José Eduardo dos Santos, who ruled the country from 1979 to 2017. She is currently facing accusations of getting access to lucrative deals involving land, oil, diamonds and telecoms when her father was president of Angola – a southern African country rich in natural resources.
Efacec is a success story!When I bought it,Efacec was practically bankrupt and in recent years thanks to hard work we got the following results: we closed 2018 with profits of 14.1€million,83% more than the previous year, and sales of 433.2€ million,1.5 million more than in2017 pic.twitter.com/JPypzp6JWt
— Isabel Dos Santos (@isabelaangola) June 19, 2020
A aquisição de uma participação na Efacec por parte da Winterfell correspondeu a um processo transparente, Banco de Portugal não encontrou qualquer irregularidade. Isabel dos Santos sai em defesa da Efacec e nega branqueamento de capitais https://t.co/VAdAD5nhrR via @JNegocios
— Isabel Dos Santos (@isabelaangola) June 19, 2020
Source: Jornaldenegocios | EFACEC | ESI Africa