Candando Opens First Of 10 Hypermarkets In Angola
The first Candando hypermarket, owned by Angolan group Contidis, has opened in the Avennida Shopping Mall in Luanda, Angola.
The store has an area of 10,000 square metres, and Contidis, owned by local businesswoman Isabel dos Santos, plans to open a total of ten stores over the next five years, with an estimated investment of US$ 400 million.
The group has signed contracts with 15 domestic producers, which will provide 90 per cent of vegetables and over 40 per cent of fruit (totalling some 300 tons per month) to the store. Contidis estimates it will purchase 225 tonnes of Angolan products per week from all provinces, such as fresh fish.
According to Contidis, the intention is for Candando to become the country’s largest retail chain. Other goals include the installation of a logistics base in Luanda and the setting up of a partnership with national food producers.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Branislav Pekic. To subscribe to ESM: The European Supermarket Magazine, click here.