14 July 2016
The Cabo Verde (Cape Verde) Chamber of Tourism will take on the role of exclusive promoter of the West African archipelago's tourism, a responsibility that so far had been shared with Cabo Verde Investimentos, said the re-elected president of the institution. Gualberto do Rosário said at the end of a meeting with Prime Minister Ulisses Correia e Silva the measure aims to "provide more effective tourism promotion of the archipelago."
7 July 2016
7 July 2016
The Meliá Salamansa, a five-star resort and hotel due to be built on the island of Sao Vicente in Cabo Verde (Cape Verde), is scheduled to open in 2018, according to an announcement from the Meliá Hotels International group. According to information released by the group, Meliá Salamansa, which will be built in the fishing village of the same name, northeast of the city of Mindelo, will be the fifth hotel the group has built in Cabo Verde, after the Meliá Dunas, Melia Tortuga, Meliá Llana and Meliá White Sands, offering a total of 3,140 beds.
6 July 2016
Portuguese group Mota-Engil has started construction of a school on the outskirts of Sao Tome, the capital of Sao Tome and Principe, funded by Taiwan and costing an estimated US$5 million. The new school, designed for secondary and pre-university education, is located in Lobata district, 12 kilometres from the capital Sao Tome, and the ceremony to lay the first stone took place Tuesday.
1 July 2016
The Gross Domestic Product (GDP) of Cabo Verde (Cape Verde) grew by 5.8 percent in the first quarter of 2016, an annual increase of 3.9 percentage points or a percentage change of 205 percent, according to the archipelago's National Statistics Institute (INE). The information contained in the Quarterly National Accounts showed that the increase in GDP growth rate, which rose from 1.9 percent in the first quarter of 2015 to 5.8 percent this year, was mainly due to growth recorded in Agriculture, Hotels and Restaurants, Public Administration and Taxes net of subsidies.
27 June 2016
The economy of Cabo Verde (Cape Verde) is expected to post maximum growth of 4.5 percent in 2016, according to the draft State Budget approved Thursday by the country's government, the Minister for the Presidency of the Council of Ministers said in Praia. "The government projects growth of between 3.5 and 4.5 percent based on an increase in foreign direct investment (FDI), of productivity and confidence of economic agents," said Fernando Elísio Freire, estimating that the rate of inflation will be between 0.2 and 1.2 percent.
24 June 2016
The island of Boa Vista, in Cabo Verde (Cape Verde), should have about 10,000 rooms for accommodation in 2022, an increase of over 300 percent compared to 2,438 existing rooms, according to official forecasts. Projections from the Tourism Development Corporation of the Islands of Boa Vista and Maio, cited by weekly newspaper A Semana, show that from 2,438 existing rooms, Boa Vista is expected to reach 3,908 rooms in 2017 and 5,739 in 2018, based on investments already started and the projects that will be launched in the near future.
13 June 2016
The Riu Hotels & Resorts group plans to build two 500-room hotels, one of them a five-star unit - on the island of Boa Vista, said the owner Carmen Riu, at the end of an audience with the Prime Minister of Cabo Verde. Riu told Prime Minister Ulisses Correia e Silva that the two projects are in preparation, although their opening is already scheduled for 2017 and 2018, according to weekly newspaper A Semana.
13 June 2016
A mission from the International Monetary Fund (IMF) is due to return in early autumn to Cabo Verde (Cape Verde) for regular annual consultations with the government of the archipelago, the IMF said in a statement issued at the end of last week. The mission, which Thursday concluded a three-day visit to Cabo Verde for the first contacts with the new government.
3 June 2016
2 June 2016
The European Union will provide Cabo Verde (Cape Verde) with 5 million euros to be invested in strengthening the country's institutions, the EU representative in Cabo Verde, José Manuel Pinto Teixeira, said recently. "We are completing the next budget support programme, which will be available after the summer in the initial amount of 50 million euros and will also have a new 5 million-euro package for institutional capacity building programmes," said the EU representative.
24 May 2016
Cabo Verde (Cape Verde) received 190,600 tourists in the first quarter of the year, which was an increase of 17.2 percent over the same period of 2015, the National Statistics Institute (INE) said in the Cape Verdean capital, Praia. The "Tourism Statistics - Guest Movement" report for the first quarter also said tourists who visited the archipelago accounted for 1.1 million overnight stays, an annual increase of 12.1 percent, with an average stay of 5.7 nights, down 5 percent compared to 2015.
19 May 2016
China "remains committed and available" to continue to cooperate with Cabo Verde (Cape Verde), China's Ambassador to Cabo Verde said Wednesday in Praia at the end of a meeting with the new prime minister, Ulisses Correia e Silva. "Our vision is to strengthen and further promote cooperation between the two countries in various sectors, and I believe that in the coming years we can develop many more projects," said Ambassador Du Xiaocong, quoted by news agency Inforpress.
17 May 2016
China plans to increase cooperation with the municipality of Sal, Cabo Verde (Cape Verde), particularly through tourism investments on the island, said Monday the Chinese ambassador to Cabo Verde, Du Xiaocong. The ambassador is on a two-day visit to Sal at the invitation of the outgoing Mayor, Jorge Figueiredo, according to Cape Verdean news agency Inforpress.
13 May 2016
The World Bank approved a loan of US$5 million to Cabo Verde (Cape Verde) to develop and increase the competitiveness of the tourism sector in the archipelago, the World Bank said in a statement issued in Washington. The statement said that the tourism sector in Cabo Verde has potential to be the main driver of economic growth, whilst offering many opportunities for diversification and connection to the private sector.
12 May 2016
The privatisation of Cape Verdean flagship airline TACV will take place only after the company has been the subject of a financial restructuring process, said the Cabo Verde (Cape Verde) Minister of Finance, Minister Olavo Correia, cited by newspaper Correio das Ilhas, also said it was necessary "to add value to the flagship airline before considering its privatisation."
11 May 2016
The World Bank has about US$25 million available to invest in several projects in Cabo Verde (Cape Verde) in 2017, said Tuesday in Praia Louise Cord, the World Bank director for five countries in West Africa. Cord, who in addition to Cabo Verde is the face of the World Bank in Senegal, Gambia, Guinea-Bissau and Mauritania, Tuesday had a meeting with the Cape Verdean government to prepare the definition of projects to be funded.
10 May 2016
The consumer confidence indicator in Cabo Verde (Cape Verde) evolved negatively in the first quarter of 2016 compared to the same period of 2015, to below the series average, the National Statistics Institute (INE) reported in Praia. The INE also reported that respondents to the Monthly Economic Consumer Survey made a negative assessment of their financial situation and the country in the next 12 months.
6 May 2016
Commercial banks should focus on microcredit and development banks should be set up to boost the growth of the social economy in the Portuguese-speaking countries, said Thursday the President of Cabo Verde (Cape Verde) in Praia. Jorge Carlos Fonseca stressed the "important and essential" contribution of the economy promoted by cooperatives, mutual associations, community associations, foundations and others in developing countries.
4 May 2016
Cape Verdean flagship airline Transportes Aéreos de Cabo Verde (TACV) will be subject to a technical and financial audit, announced Tuesday in Praia the Cabo Verde (Cape Verde) Economy Minister José Gonçalves, as he presented the new members of the board. The audit aims to determine with the utmost urgency "the real economic and financial situation of the company, since the data presented does not inspire confidence and reliability in the figures and scenarios presented," the minister said, cited by Portuguese news agency Lusa.