Africa > West Africa > Cape Verde > Banking / Investment

Banking / Investment in Cape Verde

  • Africa's last international banks make their stand

    BOTSWANA, 2017/10/31 On June 1, 2017, Barclays sold a 33.7% stake in its African business, Barclays Africa Group Limited (BAGL). The transaction reduced the UK lender’s stake in its African offshoot to 14.9% and permitted, in accounting terms, the deconsolidation of BAGL from its parent. Additional symbolically, it brought to an end Barclays’ operations on the continent next additional than 100 years. The rise of Africa’s home-grown financial players has led most international lenders to withdraw from the continent. However, Société Générale and Standard Chartered are not only staying put but marking territory for digital expansion. James King reports.
  • Why governments need to support the financial sector to meet the unserved needs of smallholder farmers

    BOTSWANA, 2017/09/09 This year, under the leadership of H.E. President Alassane Ouattara and the theme of “Accelerating Africa’s Path to Prosperity: Growing Inclusive Economies and Jobs through Agriculture”, the African Green Revolution Forum (AGRF) 2017 is shaping up as a premier platform to showcase ongoing evolution in Africa’s agricultural transformation schedule and to scale up the political, policy, and financial commitments needed to achieve the Malabo Declaration and the world development schedule around the Sustainable Development Goals (SDGs). Following the launch of the landmark annual Africa Agriculture Status Statement (ASSR) at the AGRF taking place in Cote d’Ivoire from 4-8 September 2017, the major conclusion centres around the power of entrepreneurs and the free market in driving Africa’s economic increase from food production. This is owing to the fact that a lot of businesses are waking up to opportunities of a rapidly growing food market in Africa that may be worth additional than $1 trillion each year by 2030 to substitute imports with high price food made in Africa.
  • We live in a region with strong growth

    BENIN, 2016/08/18 Turnover on West Africa’s BRVM bourse additional than doubled over the completed year, reaching 209.26 billion CFA francs ($362.2 million) in late May. “We benefited from a favorable context. We live in a region with strong increase,” Edoh Kossi Amenounve, the manager of the stock exchange told reporters on Tuesday.
  • Macau businessman wants to take companies from China to Cabo Verde

    CHINA, 2016/06/04 Macau businessman David Chow, who is involved in a tourism project in Cabo Verde (Cape Verde), has promised to take to Cabo Verde additional entrepreneurs and companies from China in different areas of economic activity, according to statements made in Praia. Chow was speaking at the end of a conference between the Prime Minister, Ulisses Correia e Silva and a mission from the China/Africa Development Fund, weekly newspaper A Semana reported.
  • ECOWAS Bank to focus on economic growth

    BENIN, 2015/07/28 The ECOWAS Bank for Investment and Improvment(EBID) says it would continue to focus efforts on providing support to private and public sector initiatives to grow the economies and create jobs in the sub-region. Mr Bashir Ifo, EBID President, said everything would be done to lift the people out of poverty and transform their economic situation. Evidence of this, he said could be seen from the bank’s assistance in areas of infrastructure, agriculture and private sector development.
  • Japan has donated US$194,000 to the Cabo Verde (Cape Verde) g

    JAPAN, 2014/03/16 Japan has donated US$194,000 to the Cabo Verde (Cape Verde) government and to the Praia Municipal Council to fund projects linked to health and safety at work. The arrangement for the donation was signed Thursday in the archipelago’s capital, Praia. Japan has donated US$72,000 due to the central government to fund a project to improve the sanitary control laboratory of the Praia fishing port. The coordinator of the management commission of the fishing port, José Maria Carvalho, cited by news agency Inforpress, said that the donation, which is part of the Japanese government’s Non-Refundable Aid Programme for Local Projects, would benefit 1,200 people.
  • Cabo Verde (Cape Verde) ; significant Chinese investments are about to be launched.

    CAPE VERDE, 2014/02/13 Cabo Verde (Cape Verde) has boosted its position in Africa in the new version of the world’s major economic freedom index, at a time at the same time as significant Chinese investments are about to be launched. In the 2014 edition of the Index of Economic Freedom put together by the Wall Street Journal and the Heritage Foundation, Cabo Verde is the third best-ranked sub-Saharan African country and even manages to be listed ahead of Portuguese-speaking nations such as Portugal itself. According to the Economist Intelligence Unit, “Cabo Verde’s good performance is not surprising, given the immense social and economic stability recorded over the last decade.”
  • AfDB approves €15m general budget support loan for Cape Verde

    CAPE VERDE, 2013/10/14  The Board of Directors of the African Development Bank (AfDB) Group on Wednesday approved a 15 million-Euro general budget support loan for Cape Verde, to help the country finance its Public Corporate Governance and Investment Promotion Support Programme (PAGEPPI). The programme aims to help Cape Verde to consolidate its macroeconomic framework and foster increase by improving public corporate governance in national-owned enterprises and promoting private investment , a statement issued by AfDB said. The PAGEPPI’s operational objectives are to improve public corporate governance so as to streamline public spending and promote private investment to spur economic increase and foster job creation.
  • Most attractive destinations for investment in Africa

    CAPE VERDE, 2013/04/23 Cape Verde and Mozambique are two of the majority attractive destinations for foreign investment in Africa in 2013, according to a document published in Lille by French consultancy StrategiCo. In the “Risks in Africa 2013” statement  the consultancy noted a “change in perception” of foreign investors in relation to Africa, due to average increase of 4.8 % this year, above the world average of 25 %, according to the IMF.