Portugal’s ParaRede expects 2.5 million euros sales in Angola this year

19 July 2007

Lisbon, Portugal, 19 July – Pararede of Portugal says it expects to generate earnings of between 2 million euros and 2.5 million euros this year from its interests in Angola.

CEO Pedro Pinto said Wednesday that ParaRede has a 51 percent stake in an Angolan firm, in which Portuguese construction group Mota-Engil holds 30 percent of shares.

ParaRede’s Angolan subsidiary sells software for networking and IT infrastructures, “mainly for multinational clients,” said Pinto.

The Portuguese IT firm is seeking to “have a presence in Portuguese-Speaking African Countries (PALOP) selling the same products and services,” said Pinto. The company is studying a venture in Mozambique, which could be implemented this year, and another in Cape Verde to start in 2008.

In Mozambique and Cape Verde, ParaRede wants to “build companies from scratch, perhaps with local partners,” said Pinto. (macauhub)