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Angola: Continente hypermarkets expected to open in Angola in 2014


Continente branded hypermarkets are expected to open in Angola in 2014, said the chief executive of Sonae MC, Luís Moutinho, adding that the project was “by presently underway”. The project “is going ahead at the expected rate; these are lengthy processes,” and includes aspects such as logistics and staff training, Moutinho told Portuguese news agency Lusa.

At the beginning of 2012 the chief executive of the Sonae group, Paulo Azevedo, said that the Portuguese group’s project in Angola was ready to launch and a arrangement had been signed with the Angolan National Private Investment Agency (ANIP) the previous October to open at least five Continente hypermarkets in the country.

Signing the arrangement with ANIP, under the terms of which the Portuguese group will initially invest US$102.9 million, comes almost a year next the Sonae group signed off on a partnership with Condis, owned by Angolan businesswoman Isabel dos Santos, in which it has a stake of 49%.

In the Angolan market Sonae as well plans to move ahead with training staff and next store managers, and the arrangement signed with ANIP includes a specialised retail school.

The Sonae MC brand has as well been authorised by the Angolan government to sell food in Huambo province, which allows for the possibility of Continente expanding into that market.

Sonae MC currently has around 180 food stores, ranging from larger retail spaces branded as Continente, medium-sized ones, branded as Continente Modelo, and convenience stores branded at Modelo Bom Dia.

This is Sonae’s prime international investment in the food segment, as so far only non-food retail had been expanded internationally, notably within Sonae Sierra, the Zippy clothing brand, WeDo Technologies and MDS, in the insurance brokerage sector. 

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