Portuguese group Sonae awaiting authorisation to open 4 hypermarkets in Luanda, Angola

14 July 2011

Porto, Portugal, 14 July – Portuguese group Sonae plans to open four hypermarkets in Luanda and become the leader of the retail market in the country, said the company’s chairman, Paulo Azevedo, during the presentation of its sustainability report for 2010.

Sonae’s internationalisation project in the retail sector gained a new focus as of 15 April last when an agreement with Angolan company Condis was signed for the construction of a chain of “Continente” branded hypermarkets in the country.

Azevedo said that now that the request for approval of the project had been put forward to the National Private Investment Agency and added, “we are waiting for approval, or not, of our project.”

In terms of sustainability, an area that “consumes resources” but also “creates value” the report from Portugal’s largest private employer for 2010 presents information such as the creation of 3,454 jobs, providing staff with over 1.5 million hours of training, a 24.4 percent increase in tax paid to the State, to 58 million euros and support provided to 3,082 organisations, with donations worth 10.4 million euros. (macauhub)