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Cabo Verde

Cabo Verde parliament approves closure of banks operating with restricted authorisation

25 February 2020
The parliament of Cabo Verde unanimously adopted a draft law allowing the closure of banking institutions with restricted authorisations, reported the Cape Verdean press.

Cabo Verde Airlines has another 44 shareholders

24 February 2020
Cabo Verde Airlines has a further 44 new shareholders following the sale of 74,650 shares to Cape Verdean emigrants, said the director of the Department of Market Operation of the Cabo Verde Stock Exchange.

Cabo Verde removed from “blacklist” of tax havens in the European Union

19 February 2020
The removal of Cabo Verde from the "blacklist" of tax havens in the European Union is "a solid step towards the international transparency that the country intends to achieve," said on Tuesday the deputy prime minister and minister of Finance.

Luxembourg finances solar energy project of the Cabo Verde parliament

19 February 2020
Luxembourg will pay for a solar photovoltaic production system for the palace of the National Assembly of Cabo Verde, which is expected to reduce the parliament's electricity bill by approximately 30%.

Hotel Hilton in Praia yet to be built in Cabo Verde due to lack of funding

12 February 2020
Difficulties in securing financing are delaying the start of the construction of the Hotel Hilton Praia, whose first stone was laid four years ago, said on Tuesday in Praia, the representative of The Resort Group in Cabo Verde.

Turkish group OYAK interested in the volcanic stone in Cabo Verde

7 February 2020
Turkish group OYAK (Ordu Yardimlasma Kurumu) intends to invest in Cabo Verde in quarrying pumice, a rock of volcanic origin used in cement production, said the Prime Minister's office in a statement issued in Praia.

Cabo Verde’s trade deficit increases by 4.4% in 2019

6 February 2020
Cabo Verde’s balance of trade deficit increased by 4.4% on year in 2019 to 72.230 billion escudos (US$722 million), compared with 69.195 billion escudos in 2018, the archipelago's National Statistics Institute said.

Banks operating in Cabo Verde with only non-residents to close this year

4 February 2020
The ultimatum presented to the banks that operate in Cabo Verde only with non-resident customers to transfer to a general license by the end of the year aims to make the banking system more transparent and comply with international standards, said on Wednesday in Praia, the prime minister of Cabo Verde.

Cabo Verde wants to be one of the best countries in the world to do business

31 January 2020
The "Doing Business” Action Plan, presented on Thursday in Praia by the Government of Cabo Verde, aims to ensure that within five years the archipelago is on the list of 50 countries with the best business environment and achieve 95th place in 2021, reported the Cape Verdean press.

Tender for construction of a cruise terminal in Cabo Verde awarded by the end of July 2020

30 January 2020
The award of the contract for the construction of the cruise terminal of Mindelo is scheduled for the end of July 2020, according to the two-stage international public tender launched by the National Port Administration (Enapor) of Cabo Verde, the Cape Verdean press reported.

The state becomes the second-largest shareholder of Caixa Económica de Cabo Verde bank

30 January 2020
The State of Cabo Verde has acquired all of the shares held by Macau investment company Geocapital in Caixa Económica de Cabo Verde (CECV), becoming the second-largest shareholder in the bank with a stake of 27.44%, according to information disclosed in Praia.

Cabo Verde Sovereign Fund should be operational in 2020

24 January 2020
The process of setting up the Cabo Verde sovereign fund with a capital of €90 million, is underway, and the fund should become operational this year, the deputy prime minister and minister of Finance of Cabo Verde, Olavo Correia said.

The minimum wage in Cabo Verde increases to US$150 in 2021

23 January 2020
The minimum wage in Cabo Verde will increase to 15,000 escudos (US$150) per month in 2021, after increasing from 11,000 to 13,000 escudos, the country's prime minister said on Wednesday in Praia in a speech to parliament.

Forum Macau analyses report on its 15 years of activity

22 January 2020
Forum Macau has analysed the report prepared by the Chinese Academy of Social Sciences on the activities of the institution in its 15 years of existence, according to information from the Support Office of the Permanent Secretariat of Forum Macau.

Cabo Verde’s ports to be handed over to private managers

21 January 2020
The ports of Cabo Verde and its port services will be privatised, and the process is due to be launched by the end of the first half of the year or the beginning of the next half, according to broadcaster RFI citing statements from the minister of Maritime Economy.

Cabo Verde shipyards take on a loan to prepare for privatisation

21 January 2020
The board of directors of Cape Verdean shipyard company Estaleiros Navais de Cabo Verde (Cabnave) is finalising negotiations with a commercial bank to borrow 20 million escudos (US$200,000), under a guarantee provided by the State to make investments, said the Minister of the Maritime Economy.

CPLP announces new funding to support Mozambique

17 January 2020
The Community of Portuguese Speaking Countries (CPLP) will help the reconstruction of areas of Mozambique affected by cyclones in 2019 with funding of €888,600, with funding totalling €1.26 million, said the organisation in a statement.

Cabo Verde statistical data available in the IMF’s dissemination programme

16 January 2020
Cape Verde has joined the Enhanced General Data Dissemination System, which harmonises macro-economic data and allows for the development of the statistical system of countries that join up, the International Monetary Fund (IMF) announced in a statement released on Wednesday in Washington.

Cabo Verde hosts second Investment Forum in July

13 January 2020
The Cabo Verde Investment Forum (CVIF) 2020 will be held from 1 to 3 July on Sal Island, the Deputy Prime Minister and Minister of Finance announced in a public presentation ceremony of this year's edition of the meeting, the presentation of the results of CVIF2019 and the Investment Platform.

World Bank expects Angola’s economy to grow by 1.5% in 2020

10 January 2020
The World Bank predicts that the Gross Domestic Product of Angola will grow at a rate of 1.5% this year, which is a decline of 1.4 percentage points in relation to the forecast announced in June 2019, according to the Global Economic Outlook report published in Washington.
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