Brazil: Around 20 Brazilian companies set up in Angola in 2008

26 December 2008

Sao Paulo, Brazil, 26 Dec – Eighteen Brazilian companies set up in Angola in 2008, a figure which the Brazilian Franchising Association (ABF) expects to increase in 2009, according to a source from the institution.

Ricardo Camargo, the executive director of the Brazilian Franchising Association (ABF) said that, “the participation of a small and growing number of companies abroad has been of note and Angola seems to have fallen into favour with Brazilian investors, owners of franchises in different economic sectors.”

The ABF forecasts that 65 Brazilian companies will set themselves up abroad in 2009, which is seven more than in 2008. There are currently representatives of Brazilian franchises in 42 countries, most of which are in Portugal. Angola has 18.

Mister Sheik, an Arabic fast food franchise network recently opened its first store in Luanda, Angola at a total investment of 700,000 reais.

Information technology and professional training school, BIT Company also recently opened up in Luanda. According to the company, its expansion project in Angola began in Luanda.

However, the BIT Company network aims to open up at least one unit in each of Angola’s 18 provinces.

A survey by investment agency Apex-Brasil “Angola is going through a period of reconstruction of its infrastructure, and retail goods and services are expanding.”

The document noted that, “between 2004 and 2007, the flow of trade between Brazil and Angola rose 500 percent, reaching a total of over US$2 billion at the end of that period. This represents US$945 million in Brazilian imports from Angola and US$1.2 billion in Brazilian exports to that market, 89 percent of which was manufactured goods.” (macauhub)