Cabo Verde central bank awards construction of new headquarters

5 July 2017

The new headquarters of the Bank of Cabo Verde (BCV) will solve current logistical and security problems and will be an architectural and tourist landmark in the country, the governor of the central bank said on Tuesday in Praia.

The new headquarters, costing an estimated 17 million euros, will be located in the neighbourhood of Achada de Santo António, the most populated in the city of Praia and the location of buildings such as the National Assembly, the Portuguese Embassy and the representation of the United Nations in Cabo Verde.

The new headquarters, construction of which was awarded to a Spanish-Cape Verdean consortium, will consist of three buildings, two with a single floor, which will be the location of the bank’s vault and areas for destruction of money and social facilities and one with six floors for offices.

At the tendering session, the governor pointed out that the continual need to strengthen the BCV’s institutional capacity is not compatible with the logistical and security constraints faced by the regulatory and supervisory authority.

Construction of the new headquarters will be financed through the central bank workers’ Pension Fund, for staff who began working before 1993 and assigned to the Bank of Cabo Verde under leasing arrangements.

The construction of the new headquarters of the central bank of Cabo Verde goes back to 1992, when the land was purchased, with five engineers from the Bank of Portugal later collaborating in drawing up architectural and technical plans for the building. (macauhub)

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