Opening of hypermarket in Angola helps develop economy

11 May 2016

The Candando hypermarket will help develop the food and non-food sector in Angola said Tuesday in Luanda the minister of Trade, Fiel Domingos Constantino, speaking at the opening ceremony.

The minister also said that opening of another commercial establishment shows that “there is still much to do in Angola in terms of setting up a modern commercial distribution chain.”

This hypermarket is the first of a network of 10 units to be built over the next five years with an estimated investment of US$400 million, which will focus on local, Angolan production.

For this first store, the group has signed contracts with 15 domestic producers, which will provide 90 percent of vegetables and and more than 40 percent of fruit, totalling some 300 tons per month.

In total, the group estimates it will purchase 225 tons of Angolan products per week from all provinces, such as fresh fish purchased almost entirely at the beaches between Ambriz and Porto Amboim.

The first store of the Contidis distribution group, which is inside the Shopping Avenida shopping centre, is wholly owned by businesswoman Isabel dos Santos, it was inaugurated in the presence of five Angolan ministers (Trade, Industry, Fisheries, Agriculture and Economics) and occupies an area of ​​10,000 square metres. (macauhub/AO)