Jean-Claude Bastos de Morais

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Jean-Claude Bastos de Morais (2015)

Jean-Claude Bastos de Morais (born October 28, 1967 in Freiburg im Üechtland ; legal resident in Welschenrohr ) is a Swiss - Angolan fund manager .

Bastos founded several firms including the Quantum Global Group , an international investor group with a focus on Africa, and Banco Kwanza Invest , Angola's first investment bank. Bastos was also the administrator of the Angolan State Fund and close business partner of José Filomeno dos Santos . During the revelations of the Paradise Papers, he became known for his relationship with the Angolan government and offshore constructs, as well as for an Angolan port project in which he was both investor and beneficiary as fund manager.

family

His father comes from Angola, his mother from a Swiss entrepreneurial family. His maternal grandfather was an industrialist in the watch industry who introduced the illuminated wristwatch. According to Bastos, his Angolan grandmother inspired the African Innovation Foundation, which he founded in 2009.

Education and career

Bastos studied economics at the University of Freiburg , where he received a master's degree in management. He funded his studies by starting a regional M&A firm that dealt with small firms. In 1989, Bastos joined Deloitte and later Abegglen Management Partners as a consultant . In 1995 he founded a venture capital company specializing in Swiss SMEs .

In 2007, Bastos founded the Quantum Global Group, of which he is CEO . As an asset management company specializing in direct investments in Africa , Quantum Global also expanded into the real estate business after the establishment of Quantum Global Real Estate in June 2009. With Plaza, a joint venture with JLL subsidiary LaSalle , Quantum Global bought office properties on Savile Row , Fifth Avenue and in Munich from 2012 . The Tour Blanche in Paris followed in 2014 .

In 2008 Bastos founded Angola's first investment bank , Banco Kwanza Invest.

In 2015 he started the innovation hub Fabrica de Sabao (soap factory) to support innovative projects in Angola. The Innovations Hub is a cooperation with the government that provides the property. The Fabrica de Sabao was set up to enable people on the fringes of society to participate in economic life.

African Innovation Foundation

In 2009 Bastos founded the African Innovation Foundation (AIF), which supports sustainable projects in Africa . The Innovation Prize for Africa (IPA) was established in 2011 in cooperation with the United Nations Economic Commission for Africa (UNECA). In 2016 the IPA celebrated its fifth birthday and the AIF agreed to work with the World Intellectual Property Organization (WIPO) to support African inventors. In February 2017, the AIF and the Botswana Innovation Hub agreed to jointly promote innovation in Botswana . In addition to the IPA, AIF founded the ZuaHub, a platform that links inventors and resources. In 2017 the IPA database already comprised over 6,000 inventors from 51 African countries.

African Law Library

Another AIF project is the African Law Library (ALL). It was founded on November 28, 2013 at the headquarters of the African Union in Addis Ababa , Ethiopia . With the African Law Library, Bastos has implemented his idea of ​​an online portal that enables access to a large number of legal texts and legal documents from African countries. The Huffington Post reported that "in June 2014 alone, more than 10,000 searches were initiated on the ALL platform". In March 2015, over 4,500 documents on regional and national court hearings, 3,600 laws and 8,000 secondary sources from eight African countries were already available online.

criticism

In 2011, the Zug criminal court convicted Bastos and a businessman for multiple qualified, unfaithful business management. The two had illegally disbursed funds from a holding company under their control, some of which flowed into their own pockets.

Fondo Soberano de Angola

After a selection process, Bastos' asset management company Quantum Global was awarded the contract in 2012 to manage the newly created Angolan sovereign wealth fund , Fundo Soberano de Angola, with fund assets of USD 5 billion.

In November 2017, the Swiss banker Thomas Matter described the management fees of Bastos' Quantum Global for the administration of the Angolan sovereign wealth fund as "at least five times excessive". The majority of the money was never invested, but parked in offshore accounts in Mauritius. In the context of the revelations of the Panama Papers , Bastos was accused by Mauritian financial investigators of having "personally benefited" from investments by the sovereign wealth fund. A British court therefore froze USD 3 billion in the accounts of the businessman and his companies at the end of April 2018.

At the end of July 2018, the London High Court of Justice lifted the account freeze. The court ruled that the suspension was due to incomplete information after the Angolan state fund was unable to substantiate the allegations of breach of trust against Bastos and Quantum Global. The court accused the representatives of the sovereign wealth fund of "serious" and "culpable" behavior and ruled out future account freezes. The court said there was "no evidence that the Group's use of offshore structures was anything other than the normal and legitimate way in which the Group structured itself for tax, regulatory and other good business purposes; or that the Mr Bastos' personal use of such structures for legitimate personal reasons was not his normal modus operandi. The Supreme Court ruling found that corporations in offshore jurisdictions "are not uncommon for private equity investing; that they were known at the time and that Deloitte did not disapprove of; that this structure was not criticized by E&Y in its investigations; and that the transfer of all the funds made available to the accounts on behalf of the corporations in order to remove them from the control of the FSDEA served a legitimate political aim. "

After the court in London had legally confirmed the current contracts between Quantum Global and the state fund, Bastos was arrested in Angola in autumn 2018 on charges of having enriched himself with state assets. The media saw the arrest as an attempt by Angola to put pressure on Quantum Global and Bastos. In March 2019, Angola and Quantum reached a settlement. Angola got back the assets managed by Quantum early and dropped all allegations against Bastos and Quantum Global. In Mauritius, the account locks were lifted and the tax authorities renewed the licenses for Quantum Global. Quantum Global withdrew a claim for damages against the sovereign wealth fund in London. When the settlement was reached, Bastos was released from custody in March 2019.

documentation

Web links

Individual evidence

  1. ↑ Christian Brönnimann: How a Swiss person benefits from Angola's billions. In: Tages-Anzeiger . 5th November 2017.
  2. ↑ Swiss Connection: Playing with Angola's billions. In: Rundschau (SRF) .
  3. ↑ a b c Meet The Swiss Entrepreneur Who Is Funding African Innovation. In: forbes.com. October 1, 2014, accessed March 22, 2018 .
  4. ↑ a b c d Innovation can speed up economic diversification and job creation in Africa. In: thenerveafrica.com. June 3, 2016, accessed March 22, 2018 .
  5. ^ Jean-Claude Bastos de Morais: the publicity-shy entrepreneur unleashing innovation in Angolan slums. In: trueafrica.co. December 6, 2016, accessed March 22, 2018 .
  6. ^ Jean-Claude Bastos de Morais: Africa's innovation guru. (No longer available online.) In: newafricanmagazine.com. June 27, 2017, archived from the original on February 15, 2018 ; accessed on March 22, 2018 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / newafricanmagazine.com
  7. ↑ My Story African Innovation Business Focus. In: jeanclaudebastosdemorais.com. Retrieved March 22, 2018 .
  8. ^ Jean-Claude Bastos de Morais Founding Board Member. (No longer available online.) In: africaninnovation.org. 2015, archived from the original on February 23, 2018 ; accessed on March 22, 2018 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.africaninnovation.org
  9. ↑ Swiss Connection: Playing with Angola's billions. In: srf.ch. November 8, 2017, accessed March 22, 2018 .
  10. ↑ Quantum Global Group Expanding Across Africa, Middle East. In: globalaginvesting.com. April 21, 2016, accessed June 24, 2020 .
  11. ↑ Quantum Global Alternative Investments AG, commercial register data. In: easymonitoring.ch. Retrieved June 24, 2020 .
  12. ↑ Quantum Global Real Estate and LaSalle buy trophy office building in Mayfair. In: flexsa.co.uk. 2019, accessed June 24, 2020 .
  13. ↑ Savanna picks up 521 Fifth Ave for $ 381M. In: therealdeal.com. March 28, 2019, accessed June 24, 2020 .
  14. ↑ Quantum Global Real Estate and LaSalle buy office property in Munich. In: deal-magazin.com. September 3, 2013, accessed June 24, 2020 .
  15. ↑ Quantum Global Real Estate and LaSalle acquire office property in Paris. In: haufe.de. October 27, 2014, accessed June 24, 2020 .
  16. ^ Inside Angola's Sovereign Wealth Fund. In: forbes.com. September 5, 2014, accessed March 22, 2018 .
  17. ↑ Fábrica de Sabão a platform for creative social change. In: fabricadesabao.co.ao. Retrieved March 22, 2018 .
  18. ↑ Founding Board Member. In: africaninnovation.org. Retrieved April 8, 2018 .
  19. ↑ About IPA. In: innovationprizeforafrica.org. Retrieved April 8, 2018 .
  20. ↑ Made in Africa: One of these inventions is about to make it big. In: edition.cnn.com. June 16, 2016, accessed April 8, 2018 .
  21. ^ WIPO and African Innovation Foundation Sign Collaboration Agreement. In: flickr.com. May 11, 2016, accessed April 8, 2018 .
  22. ↑ African Innovation Foundation signs MoU with Botswana Innovation Hub to commercialize innovations and strengthen innovation ecosystems. In: innovationprizeforafrica.org. February 13, 2017, accessed April 8, 2018 .
  23. ↑ African Innovation Foundation - Call for Applications: Innovation Prize for Africa 2018 Awards "Investing In Inclusive Innovation Ecosystems". In: cnbcafrica.com. October 10, 2017, accessed April 8, 2018 .
  24. ↑ Innovation Prize for Africa 2017: An interview with Pauline Mujawamariya Koelbl. In: riseafricarise.com. Retrieved April 8, 2018 .
  25. ^ African Law Library launches. In: globethics.net. November 27, 2013, accessed April 8, 2018 .
  26. ^ Democratizing Access to Legal Information - For Every African. In: huffingtonpost.com. December 6, 2017, accessed April 8, 2018 .
  27. ↑ Christian Brönnimann: How a Swiss person benefits from Angola's billions. In: Tages-Anzeiger. 5th November 2017.
  28. ↑ Paradise Papers Bastos is overtaken by the past. Swiss Radio and Television SRF, December 18, 2017, accessed on December 19, 2017 .
  29. ↑ Quantum diz que tribunal inglês desbloqueou gestão do Fundo Soberano de Angola. In: dn.pt. July 21, 2018, accessed January 5, 2020 .
  30. ↑ Justiça britânica recusa apelo do Fundo Soberano de Angola para recuperar 477 milhões de euros. In: jornaldenegocios.pt. August 22, 2018, accessed January 5, 2020 .
  31. ↑ Angola launches US $ 5bn sovereign wealth fund. In: country.eiu.com. October 18, 2012, accessed November 29, 2019 .
  32. ↑ Angolan wealth fund gets president's son on board. In: mg.co.za. October 19, 2012, accessed November 29, 2019 .
  33. ↑ Guido Schätti: Friends drop Bastos. In: look . November 9, 2017. Retrieved November 10, 2017 .
  34. ↑ Christian Brönnimann, Oliver Zihlmann: Shaken in Zug and in Africa In: Tages-Anzeiger from May 15, 2018, accessed on May 16, 2018.
  35. ↑ The Swiss-Angolan investor Bastos has achieved a partial victory. In: nzz.ch. August 2, 2018, accessed August 8, 2018 .
  36. ↑ Bastos wins in court in Great Britain. In: handelszeitung.ch. August 1, 2018, accessed August 8, 2018 .
  37. ↑ Quantum Global scores another victory in its dispute with Angola sovereign wealth fund. In: venturesafrica.com. August 16, 2018, accessed February 23, 2020 .
  38. ^ A b Stefan Häberli: Jean-Claude Bastos is free. In: www.nzz.ch. March 22, 2019, accessed March 22, 2019 .
  39. ↑ The Federal Prosecutor's Office has to capitulate in the Bastos case. In: nzz.ch. July 4, 2019, accessed September 23, 2019 .
  40. ↑ Jean-Claude Bastos released in Luanda. In: handelszeitung.ch. March 22, 2019, accessed September 23, 2019 .
personal data
SURNAME Bastos de Morais, Jean-Claude
BRIEF DESCRIPTION Swiss-Angolan fund manager
DATE OF BIRTH October 28, 1967
PLACE OF BIRTH Freiburg in Üechtland