Cape Verdean government gives go ahead to Libyan bank to open

1 March 2010

Praia, Cape Verde, 1 March – The government of Cape Verde has authorised the opening in Cape Verde of the Green Bank, a Libyan-owned bank, which plans to invest in several sectors on the archipelago.

The new bank was made official in the Official Bulletin, which gave no details of the capital or its shareholders.

Speaking to Portuguese news agency Lusa, the Cape Verdean secretary of state for the Economy, Humberto Brito, gave no further details, noting that it was a private investment and for that reason the government “does not interfere.”

Brito also noted that Libya’s entrance into the Cape Verdean financial market “is welcome” as it is in line with the local government’s strategy to turn the archipelago into an international services centre.

As such, the financial sector is a significant focus. The entry of new banks is welcome and reflects the interest the country has on an international level in that type of investment,” he noted. (macauhub)