Project by Portuguese group Sonae in Angola includes four hypermarkets and a logistics centre

18 September 2013

Portuguese-Angolan project to open Continente hypermarkets in Angola includes construction of four hypermarkets and a logistics centre in Luanda, director of Portuguese group Sonae, Luís Reis said, cited by financial news agency Reuters.

Reis said that the facilities would open to the public in 2015, after overcoming operational difficulties that have delayed implementation. The project is 51 percent owned by Angolan group Condis and 49 percent by the Sonae group.

On the sidelines of an investment conference in northern Portugal, the director said that the partners continued to believe, “that there are still opportunities in the Angolan market.”

“If the stores that are opened adapt well to the market and are well-received by consumers we have plans to launch the format in the rest of Angola,” he said.

The group has 440 food retail units in Portugal, and is the country’s largest retailer. (macauhub)

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