Cabo Verde government sells stakes in companies

29 September 2014

The government of Cabo Verde (Cape Verde) plans to sell the shares it holds in the fuel company Empresa Nacional de Combustíveis and local bank Banco Comercial do Atlântico (BCA) via the stock exchange and outside it, said the Minister of the Presidency of the Council of Ministers Thursday in Praia .

Minister Démis Lobo said the Council of Ministers had approved the draft resolution authorising the Finance Minister, on behalf of the State, to proceed with the sale of 21,300 shares, corresponding to 2.13 percent of the State’s shareholding in Empresa Nacional de Combustíveis (Enacol).

For Banco Comercial do Atlântico (BCA) the Council of Ministers approved a draft resolution that sanctioned the sale of 132,476 shares, representing 10 percent of the stake held.

At the same meeting the Council of Ministers approved the draft law for the 2015 state budget, which predicts growth of GDP between 3 and 4 percent and an inflation rate of between 1 and 2.5 percent. (macauhub/CV)