Financial Times FT.com

New markets: Effort to exploit ties with former colonies pays dividends

By Peter Wise

Published: July 13 2010 16:51 | Last updated: July 13 2010 16:51

At the height of the civil war that ravaged Angola for 25 years after its independence from Portugal in 1975, grades de cerveja (crates of beer), became a popular medium of exchange in the absence of a stable local currency.

More than 30 years on, Unicer, Portugal’s largest drinks group, is building a €100m ($126m) brewery in Luanda, the Angolan capital, in a project that highlights the former colonial power’s position as the biggest foreign investor in Angola outside the oil industry.

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