Number of active companies in Cabo Verde rises in 2015

13 February 2017

The number of active companies in Cabo Verde (Cape Verde) in 2015 recorded an annual increase of 2.4% to 9,403, the archipelago’s National Statistics Institute (INE) said in Praia, which added the number of workers totalled 53,800.

INE also said that the increase in the number of registered companies was due to the contribution of hotels and catering, a sector that accounted for the largest number of companies (15.3% of the total) and workers (20.0%), and it is also the second largest contributor to total turnover (13.2%).

The turnover registered in the total economy exceeded 251 billion escudos, growing by 3.3% compared to 2014, with the hotel and catering sector once again contributing to the rise, which rose to just over 33 billion escudos in 2015.

Retail was the sector that had the largest number of companies (46.7%) and employed people (22.8%) and is also the sector that contributed most to total turnover (36.6%).

The INE also reported that there are clear differences between the islands in terms of business statistics, with a large number of companies in Santiago, São Vicente, Sal and Boa Vista.

The figures released show that the four islands accounted for 8.4% of total business activity, employing 91.8% of active adults and 97.2% of the registered turnover of the Cape Verdean economy. (macauhub)