Portuguese-based conglomerate, Nabeiro Group, has acquired Angola coffee company Liangol coffee. The acquisition is aimed at boosting production and capturing a segment of Africa’s growing consumer market.
Nabeiro Group, through its subsidiary Angonabeiro, wholly acquired the shares of Langol coffee under Angolan government privatization programme. The terms of the transaction remains undisclosed.
“The Portuguese group, which has been in Angola for 14 years, had been invited by the Angolan government to assist in the recovery of the old Liangol coffee factory, in Luanda, a unit that now produces the Ginga brand of coffee,”said an Angolan government official.
Angola was formerly the world’s fourth largest coffee producer, with annual production of over 200,000 tonnes. But current production is less than 10 percent of that amount. This was caused by neglect of its plantations during the Angolan civil war.
Nabeiro group also has interests in agribusiness agriculture, real estate, hotels, and other services.
Nabeiro also founded Delta Cafes Delta Cafés, a Portuguese coffee roasting and coffee packaging company headquartered in Campo Maior, Alentejo. The company is among the top market leaders in the Iberian Peninsuala.
By George Mpofu