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ANGOLA - Industry

Sergio Griffa

CEO, Promasidor


Sergio Griffa is a graduate in Public Accounting from Universidad Católica de Santa Fe in Argentina, and holds a Master’s Degree in Public Finances from Universidad Nacional de La Plata in Argentina. He has held positions in different kind of industries and geographical destinations (Latin America, Europe and Africa) and owns extensive experience in creating and redefining business models. He achieved global success in business leading companies to significant improvements in turnover, profitability and cash-flows, in challenging environments and turn-around contexts. Joined Promasidor as CFO for the Angolan operation in 2019 and was later promoted to CEO. He is committed to talent development, is founder and current president of Promasidor Angola Toastmasters Club. A global initiative to develop leadership and communication skills that brings personal and professional growth to people.

"Promasidor is an African beverage and food-products group with a presence in more than 30 African countries and is fully committed to the continent."
TBY talks to Sergio Griffa, CEO of Promasidor, about the company’s presence across the continent, its performance in Angola, and growth expectations for the coming year.
Promasidor is Africa’s leading food and beverage company, serving over 850 million people across the continent. Can you provide an overview of the company and it’s main brands and products?

Promasidor is an African beverage and food-products group with a presence in more than 30 African countries and is fully committed to the continent. We manufacture, market, and sell unique brands that bring joy to millions of consumers across Africa. Our mission is to provide quality food products to all our consumers. Our vision is to lead the market with quality food products, while setting the highest standards of production and distribution in Africa. Promasidor has been operating in the Angolan market since 1996, and powdered milk has been our main business ever since, with Cowbell being our main flagship brand. In the dairy segment, we also have the premium brand Loya, which offers unique products such , recently launched Loya Lacto-go the only lactose-free milk powder in market. Luanda still represents 70% of sales for us, though we are now in the other provinces of the country as well. Promasidor has historically had delegations in the South, though we are currently expanding our salesforce in order to reach other areas such as Soyo, Namibe, and everywhere around that area. We want to continue to expand as our projects consolidate, and be present in every municipality with demographic relevance, directly or indirectly through distributors.

Promasidor Angola formulates and packs products that were previously imported into the country. What led to this decision?

The construction of our factory was completed in 2018 with an original investment of USD10 million, after the fuel crisis in 2016-2017. Currently, there are other factors such as the rollover of the China debt, though these are beneficial for companies such as ours. The lack of foreign currencies and the unavailability of products, because almost everything in this country is imported, make our products advantageous, because they are packaged here. The material is also bought here. Angola is not yet self-sufficient in products such as milk; in some cases, the quality of the product does not meet productive process requirements. We seek to have source everything that can be done locally. One of our policies is that we are willing to sign agreements with producers to buy their production processes according to our needs and, eventually, participate in projects because we are interested in producing locally. When we do not have expertise in this area, we can collaborate with other companies. Regarding the foreign currency crisis, we benefited from it because there is a group that will always guarantee a flow of demand for products, which is what we need to grow. Smaller companies are more limited in the currencies they can acquire, which makes it easier for us to have a stronger presence in the market.

Promasidor operates in more than 30 countries in Africa. What has been the result of Angola’s operations compared to other African countries?

I am proud to say Angola has been leading Promasidor innovative projects within key categories for growth. We are the first company within the group (as well as in the Angolan market) to launch a lactose-free powder milk. In addition, we launched an innovative on the go format to taste sweet condensed milk. These are two clear examples of our leadership in innovation. Our strategy is to show our HQ the huge potential Angola has, to lead innovative projects and receive more investments that will contribute to the Angolan economy. As a country, we are the smallest one. We want to grow by 300% and become relevant. This ambition, regardless of how challenging it is, represents opportunities. In Africa, there are many preconceptions, and we are missing opportunities because of that. When we bring growth, we provide opportunities as well.

What are the goals and growth expectations for Promasidor?

Promasidor has strengthened its presence in the country by investing more than USD12 million in recent years. We employed around 400 people, and a significant portion were hired this year to support our ambitious expansion plans. We recently re-launched our cereals brand Yumvita suitable for the entire family, which is enriched with NUTRI-V, a unique blend of 16 vitamins and minerals, to help boost immunity and healthy growth. We have entered the condensed milk category, offering our consumers a unique format on the market, making the experience convenient, fun and delicious. Both launches together with the development of the existing range of products and combined with a larger distribution in the Angolan territory making us believe we can triple our business in the coming five years. We believe the Angolan market has that potential for it and Promasidor the capabilities to do it. This growth will require significant investment in new equipment, facilities, and people, which demonstrates our commitment to continue to develop the Angolan economy.



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