The Angolan government is committed to recovering around USD 2 billion domiciled in countries such as Singapore, Bermuda, and Switzerland, as part of its fight against financial crime.
The information was disclosed by the President of the Republic, João Lourenço, who stated that combating financial crime is a strategic priority for the Angolan state, arguing that this phenomenon undermines confidence in institutions, compromises the country’s development, and distorts economic competition.
João Lourenço, speaking Tuesday at the opening ceremony of the 2026 Judicial Year, stressed that this criminal practice must be firmly combated and also argued that the recovery of assets should not be seen only as a measure of a patrimonial nature, but above all as a true mechanism of material justice.
He also announced that the Angolan government will take action to recover around two billion dollars held in countries such as Singapore, Bermuda, and Switzerland.
According to the Head of State, these amounts have already been the subject of a decision by the Angolan courts, with a declaration of loss in favor of the Angolan State.
“For this reason, we must intensify our actions with the Republics of Bermuda, Singapore, and the Swiss Confederation, which collectively hold nearly two billion US dollars, which have already been the subject of a decision by the Angolan courts, to be forfeited in favor of the Angolan state,“ he said, adding that the Angolan judicial authorities need ”these resources to put them at the service of our people, to build schools, roads, hospitals, and other infrastructure necessary for the development of our country.”
Source: Correio da Kianda
