Africa Monitor

Africa Monitor Intelligence

Angola: Delays in Sale of Kero Retail Chain

Kero, which became a reference in terms of management and marketing, having has its brand developed by multinational Daymon Worldwide, has been going through a period of turmoil, with problems of supply and treasury disruptions. The company's devaluation is calculated by industry sources at more than 50% in the last two years. The company has been losing several suppliers and consultants due to missing payments.

One of Kero's suppliers would be JOÃO LOURENÇO, current PR, through his agricultural production unit on the outskirts of Luanda, which supplied fruit, vegetables, eggs and poultry to the retail chain, which belonged to figures of the inner circle of the former. PR JOSÉ EDUARDO dos SANTOS, meanwhile the target of legal proceedings, mainly for the recovery of assets. READ MORE