Angolan government wants to sell supermarket chain to private investors

14 September 2007

Luanda, Angola, 14 Sept – The Angolan government this year plans to transfer to Angolan business owners the retail stores of state-owned supermarket Presild- Nova Rede Comercial, the deputy trade minister, Manuel da Cruz Neto said in Luanda Thursday.

Neto made the statement at a press conference to give a review or the Program for Restructuring of the Logistics and Distribution System for products that are Essential to the Population (Presild), six months after the first retail facilities were opened (named Nosso Super), in the provinces of Luanda, Huambo, Bié, Benguela, Huíla, Malanje and Cabinda.

“The government plans to sell off all those stores, but this process needs to mature a little,” said Neto, noting that private investors would buy shares in a state company that had yet to be created.

According to Neto the Angolan state will maintain a share of 30 percent in order to “guarantee the stability of supply and the prices of the products on the market.”

The deputy minister noted the need to meet deadlines for conclusion of the building work underway and the tenders to be granted over the next few months.

The program will run until 2012 and includes the construction of eight Logistics and Distribution Centers and a Suppliers Market.

The program also includes the building of 163 municipal markets, 30 Nosso Super stores, two training facilities and renewal of urban areas. (macauhub)