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.
26 April 2016
Cabo Verde's (Cape Verde's) President welcomed the cooperation between his country and China, in a message addressed to his Chinese counterpart Xi Jinping on the occasion of the 40th anniversary of bilateral cooperation, according to a statement issued by the presidency. "(Despite) combining and bringing together interests within international organisations, it is, however, in the context of bilateral relations that our two countries and their peoples have achieved huge harmony, which has translated into exemplary cooperation," said the message from Jorge Carlos Fonseca.
26 April 2016
Three islands of the Cabo Verde (Cape Verde) archipelago - Boa Vista, Sal and Santo Antao - are on the list of the top 10 in Africa, according to a list compiled by the Trip Advisor travel website. The list headed by Mauritius, which names the best islands to visit and spend a holiday in 2016, puts Boa Vista in 5th place, followed by Sal in 6th and Santo Antao in 9th place.
22 April 2016
The airline Binter CV - a subsidiary of Binter Canary - is scheduled to start its inter-island operations in Cabo Verde (Cape Verde) in June, announced the president of the airline, Pedro Agustín del Castillo, in Las Palmas. Binter CV will start operating with two ATR 72 aircraft, connecting three to four islands.
19 April 2016
18 April 2016
The President of Cabo Verde (Cape Verde), Jorge Carlos Fonseca, said last Saturday in Praia, he would like the relationship between the archipelago and China in the future to focus on the areas of the economy, finance and business. "China-Cabo Verde cooperation is exemplary and has contributed to our development process," said Fonseca during the inauguration of remodelling works on the Presidential Palace, financed and built by Chinese cooperation.
15 April 2016
Brazilian aeronautical company Embraer delivered 44 jets in the first quarter of 2016, 21 for commercial aviation companies and 23 executives aircraft, the company said in a statement issued Thursday. The statement said the delivery of these 44 aircraft represented an increase of 37.5 percent over the number in the first quarter of 2015, when it delivered 32 aircraft, 20 for commercial aviation companies and 12 executive jets.
12 April 2016
The next business meeting between China and the Portuguese-speaking countries will be held in 2017 in Cabo Verde (Cape Verde), according to a proposal from the Cape Verdean Investment Agency for approved at a meeting in Bissau. The event's promoters expressed satisfaction with efforts made by the institutions involved in the organisation and implementation of this year's meeting and the high level of participation in it, according to a statement read by the meeting's Technical Office coordinator, Bruno Jauad.
5 April 2016
Guinea-Bissau will receive 150 official and business delegations for a meeting in Bissau of businesspeople from China and the Community of Portuguese-speaking Countries, the coordinator of the meeting's technical office said recently. Giving an update on preparations for the meeting, coordinator Bruno Jauad gave assurances that "everything is ready" to welcome the delegations to Bissau on 9, 10 and 11 April.
5 April 2016
Cabo Verde's (Cape Verde's) gross domestic product (GDP) is expected to post real growth of between 1.5 and 2,5 percent in 2016, according to macroeconomic projection by the Bank of Cabo Verde. The latest Monetary Policy Report published by the central bank said that projections of lower economic growth, compared to December, was the result of recent national and international macro-financial developments.
5 April 2016
The law to introduce unemployment benefit in Cabo Verde (Cape Verde), which will be managed by the National Social Security Institute (INPS), came into effect on Monday, the archipelago's press reported. The executive director of INPS, Elias Monteiro, told weekly newspaper A Semana, that funding for unemployment benefit would be provided by companies and by employee payments, which would be 3 percent of total salary.
1 April 2016
The cumulative growth rate for the four quarters of 2015 point to growth of 1.5 percent of Gross Domestic Product (GDP) for Cabo Verde (Cape Verde), the West African archipelago's National Statistics Institute (INE) said Thursday. According to the Quarterly National Accounts disclosure sheet for the last three months of 2015, Cabo Verde's GDP saw annual growth of 1.3 percent in the first quarter, 0.2 percent in the second quarter, 1.0 percent in the third and 3.2 percent in the fourth quarter.
30 March 2016
The European Union (EU) has disbursed the first tranche to finance the "ecotourism project in the Salinas natural pool," of the city of São Filipe, Cabo Verde (Cape Verde), said the head of the implementing agency. David Marques, head of the nongovernmental organization Esdime of Ferreira do Alentejo, Portugal, said that this first tranche of 39 million escudos (350,000 euros) will be applied in the renewal of the surrounding area of the seaside resort of Salinas, to make it more attractive to tourists.
24 March 2016
The new hotel of the Resort Group (https://www.theresortgroupplc.com/) that is being built on the island of Sal, Cabo Verde (Cape Verde) - the Llana Beach Hotel - will be ready in November, Cape Verdean newspaper Expresso das Ilhas reported. The project, costing an estimated 80 million euros, covers an area of almost 75,000 square metres and will offer its guests 600 suites, seven swimming pools, night clubs, five restaurants, meeting rooms and water sports, amongst other facilities.
21 March 2016
The capitalisation of the Cabo Verde (Cape Verde) Stock Exchange has exceeded 62.466 billion escudos (US$638 million), an annual increase of 5.6 percent, and now represents 38 percent of the country's gross domestic product, according to a report produced by the Stock Exchange. The Extensive Operations Report of the Cabo Verde Stock Exchange for 2015 said that although there was a slight decrease in the number of securities listed in 2015 operations in the primary market grew 20.8 percent year on year, reaching a value of 15.558 billion escudos.