A portion of 19% of Binter Cabo Verde will be sold to individuals

31 May 2018

A portion of 19% of Binter Cabo Verde’s capital stock will be put up for sale “to whoever wants to buy it,” said the country’s Deputy Prime Minister and Finance Minister Olavo Correia, cited by local news agency Inforpress.

“Even if a private national does not appear to acquire that portion and ensure that 49% of the capital stock of the company that holds the monopoly on inter-island connections is national, the government will not buy it,” said the minister, who said there was no “Need for the state to have an active presence in the company.”

Correia said that the state had agreed to take a 30% stake in Binter Cabo Verde and added, “we do not want to be shareholders of the company so it can have public managers alongside private ones, we want the company to provide a good service to Cape Verdeans.”

Binter Cabo Verde has been operating domestic air connections since November 2016 and took on the monopoly of these connections in Cabo Verde in August 2017. (macauhub)