Angola will implement national regulations for the franchise system by the end of the year, according to an order from the Ministry of Trade establishing a Multi-sector Technical Group on Franchising (GTMF).
This group the document says, will have the specific task of drawing up the regulations for the franchise system in Angola, “as an activity for commercial distribution, its legal status and relevance in the national market economy.”
By definition, a franchise is a recognised partnership of a company or successful product with another company, giving the new company a business concept, allowing the use of the brand and providing ongoing support and experience in the field.
The attention given to the franchise system by the Angolan government is explained in the order signed by Minister Rosa Pacavira based on the “present political, economic and social development that is taking place in Angola, the creation of new brands, products and services” that “are increasingly demanded by consumers.”
This group will be coordinated by the Secretary of State for Foreign Trade, Alexandre David de Sousa Costa, and will have 180 days to present findings and the proposed regulation of this activity to the government. (macauhub/AO)