Africa > Central Africa > Angola > Continente hypermarkets expected to open in Angola in 2014

Angola: Continente hypermarkets expected to open in Angola in 2014

2013/01/28

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. 

Related Articles
  • ‘Betting on Africa to Feed the World’

    2017/10/17 The president of the African Development Bank, Akinwumi Adesina, will deliver the Norman Borlaug Lecture on Monday 16 October as part of the World Food Prize events taking place from October 16 to 20, 2017 in Des Moines, Iowa, USA. The Norman Borlaug Lecture under the title: “Betting on Africa to Feed the World”, will be held on World Food Day, October 16, in conjunction with the annual World Food Prize celebration.
  • World Teacher’s day: Gov’t urged to improve teachers’ productivity

    2017/10/16 Cameroonian teachers nationwide have exhorted the Cameroonian government to empower teachers with the requisite tools to be able to deliver their best in the present fast-paced world. While commemorating the 23rd edition of world teacher’s day today, the teachers noted that the theme for this year’s celebration, “Teaching in Freedom, Empowering Teachers,” reaffirms that peace and security are needed for the development of any country.
  • Africa's Economic Future Depends on Its Farms

    2017/10/16 At the same time as the economies of Nigeria and South Africa recently rebounded, it wasn't oil or minerals that did the trick. It was agriculture. Faster and additional sustainable agricultural increase is crucial not only to the continent's economy, but as well to its ability to feed and employ its surging people. Agriculture still accounts for a quarter of gross domestic product and as much as two-thirds of employment in sub-Saharan Africa. In fact, agricultural increase has the biggest impact on non-farm gain and reducing poverty.
  • Uber and African’s economic transformation

    2017/10/16 WHEN Uber was initial established in 2009, its mission was to help people everywhere get a ride, safely, quickly and at the push of a button. Eight years later, that mission remains the same and Uber’s innovative, technology-driven business model is still fundamentally changing the way people think about conference their transport needs. For the completed four years, Uber has been delivering this same level of transformation across sub-Saharan Africa, SSA, and with additional than 1.8 million active riders using the app, Uber certainly has reason to celebrate its fourth anniversary on the continent this September. Uber And it’s not just Uber that has benefited from the stellar uptake of its convenient offering in Africa.
  • Africa Convergence: Towards Africa's economic growth

    2017/10/05 To surpass the current physical and mental borders which are hindering the development of the African continent, conference the digital challenge to achieve an Integrated and sustainable economy for increase. This was the issue on the schedule of the second Africa Convergence Conference was attended by about 30 speakers from all sectors of activity and about 300 CEOs for an unprecedented dialogue on the next of the continent. As well on the table for discussion was : regional integration, financing, unearthing talents and emerging issues related to the harmonization of economies.