The Spar Group Ltd, a retail food and alcoholic beverage group from South Africa, is working with an Angolan partner to open a store in Luanda in the next six months, the group’s chief financial office said.
Mark Godfrey, who declined to name the Angolan partner, told financial news agency Bloomberg that the Spar group would be responsible for supplying most of the products and logistics support.
The CFO said that the group’s board of directors has decided “some time ago” that by exporting its business model to other African countries “we should make use of local partners without whom we’d be wasting time.”
Based in Pinetown, near Durban, the group already ahs stores in Swaziland, Namibia, Mozambique and Botswana ad controls 35 percent of Spar Zimbabwe, which is expanding to Zambia.
Spar Group Ltd is following in the footsteps of Shoprite Holdings, South Africa’s biggest food retail group, which opened its first store in Luanda in 2003. (macauhub)