News from Cape Verde, Angola & Mozambique

Cape Verde Business & Economy News

In Cape Verde on March 1, 2012 at 8:51 pm


Atlantico Weekly is looking ahead!

Check out our Cape Verde in 2030 with a realistic glimpse of where and how Cape Verde will look like in the next decades …!



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The outgoing CEO of TACV Cabo Verde Airlines, António Neves, said on his Facebook page that the company had posted losses of 65,000,000 escudos in 2010 – results that, according to him, may be considered to be positive, in comparison to the losses of 814 million and 241 million escudos registered in 2008 and 2009, respectively (A Semana).


Cape Verde’s stated objective is to have 50% of all energy consumed in 2020 produced from renewable sources. In order to help the country achieve this goal, Luxembourg has provided 55 million escudos financing to help definitively implement projects in the sector. In order to guarantee the sustainability of the sector, Luxembourg is also setting up a professional school aimed specifically at the area of renewable energies (A Semana).


Check out Atlantico Weekly’s Entrepreneurs of Cape Verde, a series of short interviews with entrepreneurs in Cape Verde, both homegrown and foreign. For instance with Helen Hutchings and Steve Cooling of Blu bar, Santa Maria…!


The Cape Verdean government will pay more than 1,300,000,000 escudos to conclude work on Sal Rei sea port, on the island of Boa Vista. The expansion of the port, which was originally budgeted at 3.5 billion escudos, has so far swallowed up some 4.8 billion escudos. At the moment work is at a near standstill, with large numbers of workers being laid off (A Semana).

  1. If you want to know what Cape Verde will look like in 2030, one need look no further than the Caribbean islands. Historically, culturally and in the global context, Cape Verde most resembles the Caribbean of 30 years ago. Instead of looking to Africa, Europe, America or Brazil, Cape Verdeans would do well to learn more about their peers in the Caribbean via trade, cultural and sports exchanges.

  2. An additional thought … the realism (or likelihood of scenario) of your vision of Cape Verde in 2030 hinges on A SINGLE CRITICAL ASSUMPTION: Cape Verde’s trump card is not the International Business Center … it is where Cape Verde will be in 18 years in terms of THE EASE OF DOING BUSINESS. Your 2030 scenario envisions that CV will be not only easier to do business in, but that it will be easier to do business than in many other parts of the world.

    The reality in 2012 is that the red-tape and bureaucracy in Cape Verde is so thick (Cape Verde is in the bottom third of all countries in the world), it will take a massive change to not only slice through it but to shave it so thin that CV surpasses many of the other developing countries that are competing for the same global capital over the same 18 year period and jumps into the top third (or at least the top half). It is difficult to imagine this business paralysis changing in such a radical way (relative to the all the other countries) even in 18 years. Also, remember that the rest of the developing world is not standing idly by while Cape Verde “figures it out.”

    But I absolutely agree with you this 2030 dream is for a better Cape Verde; it can indeed become a reality provided we dare to dream bold dreams, and that those who can make a difference are inspired by the vision and choose to ACT on it!

    However, even if this dream becomes a reality – which would be an amazing and wonderful feat – the real question is what will the rest of the world look like in 2030, and will Cape Verde still be 20-30 years behind anyway? For example, the vision of Cape Verde 2030 seems a lot like what some of the developing countries already look like in 2012 or even earlier!

    Thanks as always for the opportunity to express my views!

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