Angolan group Zahara invests US$60 million in new projects

13 April 2016

Angolan group Zahara will invest US$60.2 million in two projects, one of which to sell clothing, footwear and accessories estimated at US$45.4 million, under investment contracts signed in Luanda on Tuesday.

The Zahara group is, according to the information disclosed, the largest distribution group in Angola, dedicated to the marketing and distribution of food and non-food products through its network of hypermarkets and supermarkets under the Kero insignia.

The higher value contract was signed between the Technical Unit for Private Investment (UTIP) and Zahara – Retalho Especializado de Moda, a group company focused on representing major international fashion brands in Angola.

UTIP signed another investment contract with Zahara – Serviços, under which the Angolan group is committed to investing US$14.7 million in a project to provide technical and management services.

Cited by Angolan news agency Angop, the managing director of Zahara -Serviços Miguel Gromicho said this investment is a response to growing demand for technical support, business management and human resources services as well as those to support companies in integrated management, human resources, security, cleaning, maintenance of equipment and buildings. (macauhub/AO)