Portuguese group Salvador Caetano invests 3.6 million euros in Cape Verde

7 June 2012

Portuguese group Salvador Caetano (SC), which has been in Cape Verde for 20 years, has invested 3.6 million euros in expanding its retail area in the archipelago’s capital, Praia, and has expanded its portfolio of brands to include the Volkswagen group, the Cape Verdean press reported.

The new facilities will, according to the managing director of the SC group, Adelino Silva, increase storage capacity and focus efforts on the retail business and after sales services, which “so far only account for 15 percent of turnover.”

The vice president of the SC Group, Salvador Acácio Caetano, noted that the group’s ambitions included expanding its business to West Africa and to South America.

At the opening of the new retail area, the Tourism,, Industry and Energy Minister, Humberto Brito challenged Portuguese and Spanish businesspeople – represented at the event by the Salvador Caetano and Domingo Alonso groups – to use Cape Verde as a platform to export vehicles and services to other markets.

Noting that the number of cars in circulation in Cape Verde has risen four-fold in the last five to six years, Brito noted the amount of vehicle sales promotion in the country, including the Automotive Fair, the first and only edition of which was held in May, 2011.

The Salvador Caetano group sells 80 percent of the archipelago’s cars and sells Toyota, Daihatsu, and Ford vehicles and now the four brands of the Spanish group: Volkswagen, Audi, Skoda, and Seat. (macauhub)