Shoprite Plans $572 Million Investment in New Angolan Stores
- Africa’s biggest food retailer to open new supermarkets
- Grocer expanding in sub-Saharan Africa in search of growth
This article is for subscribers only.
Shoprite Holdings Ltd. plans to invest $572 million on new supermarkets and business units in Angola, as Africa’s largest food retailer expands in fast-growing sub-Saharan markets.
President Jose Eduardo dos Santos has appointed a commission to negotiate potential tax breaks and other incentives for the Cape Town-based company, according to a May 18 statement published in the government gazette. The grocer will also upgrade its existing chain of Angolan stores. A Shoprite representative confirmed the investment plans by e-mail.