Cabo Verde government plans to speed up privatisation programme

16 November 2016

The government of Cabo Verde (Cape Verde) plans to speed up the privatisation programme, “for the private sector to play a more decisive role in developing the country,” the country’s Finance Minister said on Sunday in Praia at the opening of a series of seminars on privatisation and Public-Private Partnerships (PPP).

Minister Olavo Correia, quoted by weekly newspaper A Semana, said the government has an ambitious privatisation programme, which includes the management of ports, airports, energy and water, ship repair, air transport, production and sale of pharmaceuticals, among others.

The Finance Minister gave assurances that this programme will be executed “expeditiously,” taking into account Cabo Verde’s need to promote these changes, and to create a favourable macroeconomic and business climate for the country to grow.

Correia also said there was a need to accelerate the implementation of reforms with transparency and with a strategic vision for the country and argued that these reforms “are intended not only for the mobilisation of financial resources, but also to create an environment that can put the country on a growth path while ensuring macroeconomic and social stability.”

According to the minister, the privatisation programme will bring opportunities to the domestic private sector and attract foreign direct investment “that is essential to Cabo Verde’s needs for financing and knowledge.” (macauhub)