Privatisations in Cabo Verde do not include State assets

22 April 2014

Privatisations underway in Cabo Verde (Cape Verde), such as port company Empresa Nacional dos Portos (Enapor) and flagship airline TACV, exclude the sale of State assets, the country’s Finance and Planning Minister said.

During a meeting of the Specialised (parliamentary) Commission on the Economy, Environment and Land Planning, Minister Cristina Duarte said that the privatisation process only covered the operational management of the equipment and spaces.

“We will not be leading this privatisation process to generate financial revenues for the Treasury,” the minister said.

According to the Cape Verdean Finance Minister the reasons for this choice are “very simple” and are based on the fact that the country is an archipelago of 10 islands in the middle of the Atlantic Ocean that has 800 square kilometres of Exclusive Economic Zone, and therefore the “State has to continue to own the country’s ports and airports.”

According to Duarte the deadline for conclusion of the privatisations is 31 December 2015, although she noted that the deadline could not be determined by the government alone. (macauhub/CV)