Angolan-Swiss citizen Jean-Claude Bastos says his takings pale by comparison with the earning he’s generated for the fund.

Jean-Claude Bastos is a close friend of former president Eduardo dos Santos’s 39-year-old son Jose Filomento.

He was put in charge of Angola’s sovereign wealth fund that generated $90 million between May 2014 and the end of 2015.

Bastos salted away $40-million in profit for himself and invested the rest in the British Virgin Islands.

Oil-rich Angola tops the list of Transparency International’s corrupt countries.

The majority of  Angolans live in abject poverty and it has among the highest child mortality rates in the world.

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It will also see President Jacob Zuma assume the chairmanship of the 15-nation regional body -provided of course that he still South Africa’s head of state.

Briefing the media ahead of the SADC summit  on August 19 and 20, Deputy Director  General for Africa at the Department of International Relations and Cooperation Xolisa Makaya played a straight bat to my question about what would happen if President Jacob Zuma was defeated in a  parliamentary no confidence debate ten days before the gathering.

Is the SADC chairmanship passed to heads of state. If Jacob Zuma is defeated in the parliamentary no confidence motion on August would that chairmanship automatically pass on to his successor, I asked?

“Exactly that,” Makaya replied. “We don’t want to comment further, but exactly that.”

Makaya confirms  that the chairmanship of the regional body passes to heads of state and not to individuals.

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