Carlos Manuel de Sao Vicente built Angola's biggest oil insurance empire and lost it all to a nine-year prison sentence
Billionaires Africa | 16.05.2026 11:33
In the years after Angola's civil war ended in 2002, Carlos Manuel de Sao Vicente was one of the most strategically positioned businessmen on the continent. He controlled the insurance on Angola's entire oil sector, held a stake in one of its largest banks, ran a hotel network with capacity for thousands of guests and had obtained something no African-owned company had ever held before: a Lloyd's of London brokerage licence. By the time the next president arrived in 2017, investigators in four countries were tracking his money.
