* Booming Angolan economy attracting foreign players
* Top Portugal retailer partner with president's daughter
* To open 4-5 stores in Luanda then expand across country
VILA NOVA DE GAIA, Portugal, Sept 12 Portugal's
biggest retailer Sonae plans to open five food
hypermarkets in Angola in partnership with Isabel dos Santos,
the daughter of the country's president, with the first
scheduled for 2015, a company board member said on Thursday.
Foreign players are investing in Angola's retail market to
take advantage of an oil-backed consumption boom in the country,
which is Africa's No.2 crude producer after Nigeria. The Angolan
economy is set to expand 7.1 percent this year.
South Africa's Shoprite, the continent's top
grocer, plans to add 21 shops to its existing 17 in the country
over the next three to four years. U.S. retail giant Wal-Mart
is also planning to enter the market through its
Sonae has 440 food retail stores in Portugal, where
consumption has suffered under austerity imposed by the and
international bailout. It has expanded its non-food shops
selling electronics and clothing to 20 overseas markets.
"We continue to believe that there are still opportunities
in the market," Sonae board member Luis Reis told Reuters on the
sidelines of an equities conference in northern Portugal. "We
have approval for the project from the government and are
working on the operational setup."
Conglomerate Sonae entered a partnership with Condis, owned
by Isabel dos Santos - daughter of Angolan President Jose
Eduardo dos Santos and recently listed by Forbes as Africa's
richest woman - in 2011 with a view to opening stores this year.
Isabel dos Santos has large stakes in telecommunications
operators and banks in Angola and Portugal. Sonae recently
merged its Optimus mobile unit with cable TV provider Zon, in
which Dos Santos is the largest shareholder.
Operational difficulties delayed the launch of the project
in Angola, but the joint venture, in which Sonae has 49 percent
and Condis 51 percent, plans to open four or five stores and a
logistics centre in the capital Luanda in 2015, Reis said.
"If these stores adapt well to the market and are
well-received by consumers our intention with our partner is to
roll out the format across the Angolan market," he added.
(Reporting by Sergio Goncalves; Writing by Shrikesh Laxmidas;
Editing by Ed Stoddard and David Evans)