Angola: Angolan government invests US$600 million in Presild

18 March 2009

Luanda, Angola, 18 March – The Angolan government has invested, since 2007, at least US$600 million in the Programme for Restructuring of the Logistics and Distribution System of Products Essential to the Population (Presild), the deputy Finance Minister, Manuel da Cruz Neto said Monday.

Speaking to Angolan news agency Angop, the coordinator of the Supervisory and Control Commission for Presild said that by 2012, when the projects reaches its conclusion, US$1.5 billion is expected to have been spent, although this figure could rise or fall depending on the financial climate.

The project, according to Cruz Neto, includes construction of 31 supermarkets in the Nosso Super network, 28 of which have already been built and spread across Angola’s 18 provinces, as well as municipal markets.

The project also includes, he said, construction of 26 local stores, four educational stores (two have already been built in Luanda and Huambo), a procurement centre and Distribution and Logistics Centres, one of which is already operating in Luanda and others are about to be concluded in Lobito (Benguela province).

Two years after the creation of Presild, Criz Neto said that “the programme’s infrastructures are going to change the face of retail in Angola,” and that the main aim of the programme was to improve the activity and not immediately its profits.

Presild was set up by a Presidential dispatch on 31 October, 2007, which set up the Coordination Group for implementation of the Programme for Restructuring the Logistics and Distribution System of Products Essential to the Population (Presild). (macauhub)