Enacol consolidates leadership of Cape Verde fuel market in 2009

4 February 2010

Praia, Cape Verde, 4 Feb – Cape Verdean fuel company Enacol in 2009 consolidated its overall leadership of the market in Cape Verde, with a market share of 54.8 percent, the company said in a statement issued in Praia Wednesday.

According to the statement,, the percentage is an increase of 5.6 percentage points against 2008 when the company had a share of 49,2 percent. Shell is the other main sector operator in Cape Verde.

The board of directors of the company, which has 24 service stations across the nine inhabited islands of the archipelago, in the future plans to expand the fuel market in Cape Verde, improve import and distribution logistics and boost storage capacity in Praia.

Enacol, which was set up by the Cape Verdean state in 1979, which partially privatised it in 2000, is listed on the Cape Verde stock exchange and its main shareholders are Portugal’s Galp Energia and Petrogal, with 45.03 percent, and Angola’s Sonangol with 38.13 percent.

The Cape Verdean state owns a 2.13 percent share, with the remaining 14.71 percent in the hands of small shareholders. (macauhub)