Candando is an

Angola , national_anthem = "Angola Avante"() , image_map = , map_caption = , capital = Luanda , religion = , religion_year = 2020 , religion_ref = , coordina ...

hypermarket A hypermarket (sometimes called a hyperstore, supercentre or superstore) is a big-box store combining a supermarket and a department store. The result is an expansive retail facility carrying a wide range of products under one roof, including ...

chain. It was founded in 2007 by the retail group Contidis group. It is owned by

Isabel dos Santos Isabel dos Santos (; born 20 April 1973) is an Angolan businesswoman, the eldest child of Angola's former President José Eduardo dos Santos, who ruled the country as a dictator from 1979 to 2017. Once considered Africa's richest woman accordi ...

, the eldest daughter of Angola's former president

José Eduardo Dos Santos José Eduardo dos Santos (; 28 August 1942 – 8 July 2022) was the president of Angola from 1979 to 2017. As president, dos Santos was also the commander-in-chief of the Angolan Armed Forces (FAA) and president of the People's Movement for ...

History

Candando opened its first hypermarket in

Luanda Luanda () is the Capital (political), capital and largest city in Angola. It is Angola's primary port, and its major Angola#Economy, industrial, Angola#Culture, cultural and Angola#Demographics, urban centre. Located on Angola's northern Atl ...

in May 2016, following an investment of $40 million (€33.8 million). The second store opened in April 2017 in

Talatona Talatona is an city and municipality in the province of Luanda, bordering the Angolan capital, Luanda. It was designed by the Angolan government to reduce traffic in central Luanda; Its infrastructure was built in a location south of Luanda, whi ...

, on the outskirts of Luanda. The third store opened in December 2017 in Viana, about 30 kilometers from the capital, Luanda. The hypermarket has an area of 4,300 square meters and employs 375 people. At the time of the opening of the first hypermarket, Osório announced plans for ten Candando stores within five years, for an overall investment of $400 million (€338 million). In 2015, Portuguese retail group Sonae sold its 47% stake in Contidis, the holding company that owned the hypermarkets. Initially, Candando was a joint project of Isabel dos Santos alongside the Portuguese retail group Sonae.

Operations

In June 2020, due to the

COVID-19 Coronavirus disease 2019 (COVID-19) is a contagious disease caused by a virus, the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). The first known case was identified in Wuhan, China, in December 2019. The disease quickl ...

pandemic, Candando announced that it plans to close half of the stores it operates in Angola, with the consequent loss of 1,000 jobs. The decision was confirmed by Isabel dos Santos in an interview with the local financial daily Valor Económico. She explained that the decision was due to the seizure of assets by the Luanda Provincial Court on December 30, 2019, which includes eight Candando stores. According to dos Santos, the Court decision is having a negative impact on the company's operations “as it no longer can have a normal relationship with suppliers”. She added that the company's bank accounts in Portugal are frozen so that it cannot pay suppliers, while all payments abroad are blocked. Candando's business model focuses on local products. At the time of the opening of the first store, Osório announced that the new hypermarket chain will focus on local products. The company's business plan had foreseen the opening of 10 stores in five years, equating to an overall investment of $400 million.

References

{{Reflist Hypermarkets