News from Cape Verde, Angola & Mozambique

Archive for the ‘Cabo Verde’ Category

Cabo Verde Business News

In Cabo Verde on April 3, 2014 at 11:30 am

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NEWS

President Jorge Carlos Fonseca believes that the recent projections by Fitch Ratings, which estimate Cape Verde’s public debt will rise to more than 115% of GDP in 2015 and 120% in 2017, merit the attention of all Cape Verdeans, especially the government. Fonseca said that, regardless of the interpretations made by politicians, it is important to join forces to attenuate these numbers and create conditions that will allow the economy to grow (A Semana).

The Supreme Court of Justice has slightly reduced the sentence of those convicted by Praia district court in the Operation Speed Boat case and, in a surprise ruling, has also overturned the lower court’s acquittal of businessman José Teixeira, sentencing him to four years behind bars for money laundering (A Semana).

WHAT IS THE BEST RESTAURANT OF CAPE VERDE 2013?

Check out the results of Atlantico Weekly’s poll on the Best Restaurant of Cape Verde in 2013.

– INTERVIEW –

Atlantico Weekly recently spoke with Cape Verde’s Prime Minister José Maria Neves about Cape Verde’s business opportunities, development strategy, privatisations, new property tax law, international relations and much more in: Islands of Sun and Freedom in a Sea of Opportunities

– ENTREVISTA –

Atlantico Weekly falou com o Primeiro-Ministro de Cabo Verde, Dr José Maria Neves, sobre as opportunidades de negócios em Cabo Verde, a stratégia de desenvolvimento, mudanças na tributação, as privatisações, as relações internacionais e muito mais em: Ilhas de Sol e Liberdade num Mar de Oportunidades

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Rates for ads with picture, link and a bit of text in one of the three columns on our front page now start at only 499 Euros for a 26 weekly edition period or only 999 Euros for a 52 weekly edition period (excluding taxes and money transfer costs).

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ECONOMY

The gross domestic product (GDP) of Cabo Verde (Cape Verde) in 2012 posted nominal growth of 1.9 percent and year-on-year growth of 1.2 percent, according to the National Accounts Estimates published by the National Statistics Institute (INE).

Cabo Verde had a total of 9,177 companies operating in 2012, which was a rise of 220 companies or 2.5 percent more than in 2011, INE also said. According to the 4th Business Census, for 2012, companies in operation at the end of 2012 posted turnover of 250.8 billion escudos, a drop of 7.6 billion escudos compared to 2011, and the number of jobs fell by almost 2,000 to 51,400 people employed.

The Directorate General of Customs has been clearing merchandise and proceeding with computerized registration of cargo ships prior to their arrival in Cape Verde. These measures, which will be tested throughout the coming quarter, are the results of the modernization of the services provided to business operators and are intended to improve the business environment in the country, according to the Ministry of Finances and Planning (A Semana).

Portuguese bank Caixa Geral de Depósitos has made a 30 million-euro line of credit available to Cape Verde to finance the second phase in the expansion of Sal Rei sea port, on the island of Boa Vista. The government justifies the loan, which falls within the framework of the General State Budget, with the infrastructure’s importance to the development of the island and the country (A Semana).

THE GRAND TOUR OF CAPE VERDE

Check out The Grand Tour of Cape Verde, Atlantico Weekly’s travel guide to the country’s main islands Santiago, Sal, Santo Antao, Boa Vista and Sao Vicente. Agora tambem em Portugues!

BEST MUSIC & BOOKS

Be welcome to check out Atlantico Weekly’s music cd and book store in cooperation with Amazon.com! Browse the Atlantico Store for the latest and best Angolan, Cape Verde and Mozambican music, like Waldemar Bastos, Bonga and many others…! Also use the Atlantico Store to find relevant maps, books on politics, economics and history as well as travel or tourist guides aboutthese countries. You order straight with Amazon, one of the best online stores in the world. Enjoy!

PROJECT OF THE WEEK

hotelexcelsiorpraia

Render of Hotel Excelsior, to be built in Praia.

TOURISM

With the motto “For sustainable and inclusive tourism,” business operators in the tourism sector all over the country and their international partners will meet on the island of Sal between May 23 and 25 for the sixth edition of the Expotur tourism trade fair (A Semana).

Cabo Verde (Cape Verde) had 222 hotel establishments in 2013, which was rise of 7.2 percent compared to the number of units at the end of 2012, according to an annual inventory conducted by the National Statistics Institute (INE).

Cabo Verde Business News

In Cabo Verde on March 19, 2014 at 9:46 pm

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NEWS

The Cape Verdean government and the Japanese International Cooperation Agency (JICA) have reached an agreement on a loan to finance the Water Supply System development project on the island of Santiago to the tune of more than 12 billion escudos (A Semana).

WHAT IS THE BEST RESTAURANT OF CAPE VERDE 2013?

Check out the results of Atlantico Weekly’s poll on the Best Restaurant of Cape Verde in 2013.

– INTERVIEW –

Atlantico Weekly recently spoke with Cape Verde’s Prime Minister José Maria Neves about Cape Verde’s business opportunities, development strategy, privatisations, new property tax law, international relations and much more in: Islands of Sun and Freedom in a Sea of Opportunities

– ENTREVISTA –

Atlantico Weekly falou com o Primeiro-Ministro de Cabo Verde, Dr José Maria Neves, sobre as opportunidades de negócios em Cabo Verde, a stratégia de desenvolvimento, mudanças na tributação, as privatisações, as relações internacionais e muito mais em: Ilhas de Sol e Liberdade num Mar de Oportunidades

ADVERTISE NOW ON ATLANTICO WEEKLY AND GET HUGE DISCOUNTS!

Atlantico Weekly now offers huge discounts to companies wishing to promote their business on our website.

Rates for ads with picture, link and a bit of text in one of the three columns on our front page now start at only 499 Euros for a 26 weekly edition period or only 999 Euros for a 52 weekly edition period (excluding taxes and money transfer costs).

Contact us for more info and our range of other advertising and promotion offers!

ECONOMY

Portugal will provide support to Cabo Verde (Cape Verde) in the process of extending its continental platform, a project that the archipelago’s authorities will have to present to the United Nations by the end of the year, the Portuguese Agriculture Minister said, local press reported.

Cape Verde and Praia now have a modern, extensive port, which is expected to have a direct impact on the economy on the order of 500 million escudos. By 2025, however, the port is predicted to see revenues of more than seven billion escudos per year (A Semana).

THE GRAND TOUR OF CAPE VERDE

Check out The Grand Tour of Cape Verde, Atlantico Weekly’s travel guide to the country’s main islands Santiago, Sal, Santo Antao, Boa Vista and Sao Vicente. Agora tambem em Portugues!

PROJECT OF THE WEEK

edenpark

Render of the project of the regeneration of the Eden Park Cinema in Mindelo, São Vicente Island.

BEST MUSIC & BOOKS

Be welcome to check out Atlantico Weekly’s music cd and book store in cooperation with Amazon.com! Browse the Atlantico Store for the latest and best Angolan, Cape Verde and Mozambican music, like Waldemar Bastos, Bonga and many others…! Also use the Atlantico Store to find relevant maps, books on politics, economics and history as well as travel or tourist guides aboutthese countries. You order straight with Amazon, one of the best online stores in the world. Enjoy!

FOGO

Prime Minister José Maria Neves presided over the inauguration of expansion and modernization work for Vale dos Cavaleiros sea port, on the Island of Fogo. Neves, who called the work an important step toward developing inter-island maritime transportation, said that “the port will increase the economic competitiveness of the island of Fogo (A Semana reported).”

Cabo Verde Business News

In Cabo Verde on March 6, 2014 at 7:08 pm

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MEET OUR CONSULTANCY

Are you planning on doing business in Cape Verde? Get there with

Atlantico Business Development

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  • economic intelligence
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  • market scans

more here.

WHAT IS THE BEST RESTAURANT OF CAPE VERDE 2013?

Check out the results of Atlantico Weekly’s poll on the Best Restaurant of Cape Verde in 2013.

– INTERVIEW –

Atlantico Weekly recently spoke with Cape Verde’s Prime Minister José Maria Neves about Cape Verde’s business opportunities, development strategy, privatisations, new property tax law, international relations and much more in: Islands of Sun and Freedom in a Sea of Opportunities

– ENTREVISTA –

Atlantico Weekly falou com o Primeiro-Ministro de Cabo Verde, Dr José Maria Neves, sobre as opportunidades de negócios em Cabo Verde, a stratégia de desenvolvimento, mudanças na tributação, as privatisações, as relações internacionais e muito mais em: Ilhas de Sol e Liberdade num Mar de Oportunidades

ADVERTISE NOW ON ATLANTICO WEEKLY AND GET HUGE DISCOUNTS!

Atlantico Weekly now offers huge discounts to companies wishing to promote their business on our website.

Rates for ads with picture, link and a bit of text in one of the three columns on our front page now start at only 499 Euros for a 26 weekly edition period or only 999 Euros for a 52 weekly edition period (excluding taxes and money transfer costs).

Contact us for more info and our range of other advertising and promotion offers!

ECONOMY

The Bank of Cape Verde has just reduced the reference interest rate from 5.75% to 4.25%. The new rate, which went into effect as of Saturday, March 1, is aimed essentially at stimulating economic activity and investment project financing. The market now must wait and see if the country’s commercial banks will follow the lead and lower their interest rates – among the highest in the world for all types of bank loans (A Semana).

The government has just published the Fishing Policy Charter, an extensive document that outlines strategies for the 2013-2020 horizon and calls for the sustainable and integrated development of the sector within the framework of the Sea Cluster. The Fishing Policy Charter will also feature a plan of action that must be approved by the Council of Ministers within 90 days after the resolution regarding the charter goes into effect (A Semana).

The Operational Information Society Nucleus (NOSi) is now a public business entity, as per Law-Decree nº 13/2014, which also approves the new public company’s statutes. The government argues that NOSi requires the conditions needed for its management system and civil society to be able to continue to materialize Cape Verde’s Strategic Information Society Program and Electronic Governance Action Plan (A Semana).

Work to expand the port of Praia is due to be officially inaugurated in March, during an official visit by the Portuguese Minister for Agriculture and the Sea to the archipelago. Portuguese construction consortium Somague/MSF/Etermar carried out the second phase of work to expand and modernise the port of Praia.

THE GRAND TOUR OF CAPE VERDE

Check out The Grand Tour of Cape Verde, Atlantico Weekly’s travel guide to the country’s main islands Santiago, Sal, Santo Antao, Boa Vista and Sao Vicente. Agora tambem em Portugues!

AVIATION

Equatorial Guinean airline Ceiba Intercontinental intends to operate a flight departing from that country’s capital, Malabo, to Praia, with a stopover in São Tomé and Príncipe, A Semana reported.

The number of passengers transported by TACV Cabo Verde Airlines between Portugal and Cape Verde was 29% higher than projected in its 2013 budget, according to the company’s delegate for Portugal and Spain, Mário Almeida. The figures prove that the market has grown, A Semana reported.

SPLIT SECOND POLL

BEST MUSIC & BOOKS

Be welcome to check out Atlantico Weekly’s music cd and book store in cooperation with Amazon.com! Browse the Atlantico Store for the latest and best Angolan, Cape Verde and Mozambican music, like Waldemar Bastos, Bonga and many others…! Also use the Atlantico Store to find relevant maps, books on politics, economics and history as well as travel or tourist guides aboutthese countries. You order straight with Amazon, one of the best online stores in the world. Enjoy!

Cabo Verde Business News

In Cabo Verde on February 20, 2014 at 4:58 pm

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MEET OUR CONSULTANCY

Are you planning on doing business in Cape Verde? Get there with

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more here.

NEWS

A €55 million EU aid will be given to Cabo Verde to support the country’s efforts to deal with poverty, promote sustainable and inclusive growth and develop good governance policies. European Commissioner for Development, Andris Piebalgs visited for the first time the island country in the central Atlantic Ocean and announced the EU aid. According to the Commission, the funding will focus specifically on the areas of the fight against poverty, sustainable and inclusive growth and good governance, for the period of 2014-2020.

The prime minister of Cabo Verde said Wednesday he planned to visit Angola before March to boost economic and business relations between the two countries. He is also considering similar visits to Equatorial Guinea and Sao Tome and Principe, local press reported.

WHAT IS THE BEST RESTAURANT OF CAPE VERDE 2013?

Check out the results of Atlantico Weekly’s poll on the Best Restaurant of Cape Verde in 2013.

– INTERVIEW –

Atlantico Weekly recently spoke with Cape Verde’s Prime Minister José Maria Neves about Cape Verde’s business opportunities, development strategy, privatisations, new property tax law, international relations and much more in: Islands of Sun and Freedom in a Sea of Opportunities

– ENTREVISTA –

Atlantico Weekly falou com o Primeiro-Ministro de Cabo Verde, Dr José Maria Neves, sobre as opportunidades de negócios em Cabo Verde, a stratégia de desenvolvimento, mudanças na tributação, as privatisações, as relações internacionais e muito mais em: Ilhas de Sol e Liberdade num Mar de Oportunidades

ADVERTISE NOW ON ATLANTICO WEEKLY AND GET HUGE DISCOUNTS!

Atlantico Weekly now offers huge discounts to companies wishing to promote their business on our website.

Rates for ads with picture, link and a bit of text in one of the three columns on our front page now start at only 499 Euros for a 26 weekly edition period or only 999 Euros for a 52 weekly edition period (excluding taxes and money transfer costs).

Contact us for more info and our range of other advertising and promotion offers!

ECONOMY

Cabo Verde is interested in receiving investments from Angola’s Sovereign fund, Cabo Verde’s Finance Minister, Cristina Duarte said Tuesday in Luanda at the end of a meeting with the fund’s president, José Filomeno dos Santos. Duarte, who Monday began a three-day working visit to Angola, said that Angolan private capital was amongst Cabo Verde’s preferred sources of investment in the port, air, hotel, tourist, energy, information technology and communication sectors, local press reported.

Angola plans to support the Cabo Verde (Cape Verde) State Budget with over 1.3 billion kwanzas (US$13.3 million) following a cooperation agreement signed in Luanda this week, local press reported.

THE GRAND TOUR OF CAPE VERDE

Check out The Grand Tour of Cape Verde, Atlantico Weekly’s travel guide to the country’s main islands Santiago, Sal, Santo Antao, Boa Vista and Sao Vicente. Agora tambem em Portugues!

AVIATION

Cabo Verde’s (Cape Verde’s) flagship airline Transportes Aéreos de Cabo Verde plans to join its Angola counterpart TAAG to operate together in West Africa, Cabo Verde’s Minister for Finance and Planning said Monday in Luanda.

The Directorate General of the Treasury has authorized state-owned TACV Cabo Verde Airlines to take out a new US$ 4 million loan (approximately 360 million escudos) from Cape Verdean commercial bank Caixa Económica de Cabo Verde. TACV currently has a deficit on the order of US$ 70 million, a heavy payroll and extremely high fuel costs, facts which helped justify a recent decision to reduce a number of perks long enjoyed by its employees, A Semana reported.

SPLIT SECOND POLL

AGORA TAMBEM EM PORTUGUES!

O Grand Tour de Cabo Verde esta a ser traduzido em Portugues! Começamos na Ilha de Santiago e ja seguimos para a Ilha de Sao Vicente e a Ilha de Santo Antao

TOURISM

Portuguese colonial officers in the 17th and 18th centuries perceived the West African slave-trading hub of Cabo Verde as a dead-end posting – often literally because of its propensity for drought and tropical disease. Today the wind-pummelled, volcanic archipelago 600km off the coast of Senegal is a growing tourist spot, offering dramatic landscapes for hikers, along with a vibrant music scene and year-round sunshine. In the past three years, the number of tourists going to Cabo Verde – also known as Cape Verde – has beaten the rate for Africa’s $34-billion market, growing on average each year by nearly 20 percent, according to a UN report. National Geographic has called it a “must see” destination for this year. Here are tips about getting the most out of a trip to Cabo Verde from Reuters, whose 2 600 journalists in all parts of the world offer visitors the best local insights.

 

Cabo Verde Business News

In Cabo Verde on February 13, 2014 at 3:49 pm

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NEWS

Republic of Cabo Verde is now the official name of the country. The government has requested the international community to refer to the country as such.

“Cape Verde has no gold, no petroleum and no natural gas, but it has developed and is now classified as a middle-income country. This is a miracle.” These words come from former Mozambican President Joaquim Chissano, in whose opinion, at this rate Cape Verde is in a position to become “a new Singapore” and “an African tiger”, A Semana reported.

WHAT IS THE BEST RESTAURANT OF CAPE VERDE 2013?

Check out the results of Atlantico Weekly’s poll on the Best Restaurant of Cape Verde in 2013.

– INTERVIEW –

Atlantico Weekly recently spoke with Cape Verde’s Prime Minister José Maria Neves about Cape Verde’s business opportunities, development strategy, privatisations, new property tax law, international relations and much more in: Islands of Sun and Freedom in a Sea of Opportunities

– ENTREVISTA –

Atlantico Weekly falou com o Primeiro-Ministro de Cabo Verde, Dr José Maria Neves, sobre as opportunidades de negócios em Cabo Verde, a stratégia de desenvolvimento, mudanças na tributação, as privatisações, as relações internacionais e muito mais em: Ilhas de Sol e Liberdade num Mar de Oportunidades

ADVERTISE NOW ON ATLANTICO WEEKLY AND GET HUGE DISCOUNTS!

Atlantico Weekly now offers huge discounts to companies wishing to promote their business on our website.

Rates for ads with picture, link and a bit of text in one of the three columns on our front page now start at only 499 Euros for a 26 weekly edition period or only 999 Euros for a 52 weekly edition period (excluding taxes and money transfer costs).

Contact us for more info and our range of other advertising and promotion offers!

ECONOMY

Exports reached 5,735,000,000 escudos in 2013, representing a 25.6% increase over the previous year, according to foreign trade figures calculated by the National Statistics Institute (INE). Imports and re-exports stood at 60,201,000,000 escudos and 21,831,000,000 escudos, respectively, a reduction of 8.4% and 10.2%, respectively. The balance of payment deficit dropped 10.9% and the coverage rate rose 2.6 percentage points (A Semana).

THE GRAND TOUR OF CAPE VERDE

Check out The Grand Tour of Cape Verde, Atlantico Weekly’s travel guide to the country’s main islands Santiago, Sal, Santo Antao, Boa Vista and Sao Vicente. Agora tambem em Portugues!

AVIATION

Minister of Finances and Planning Cristina Duarte, Minister of Infrastructures and the Maritime Economy Sara Lopes and Minister of Foreign Relations Jorge Borges have decided to set the fee for the use of the VIP lounges in Cape Verde’s airports at 2,500 escudos per person. The fee will be charged by the country’s Airport and Air Security company (ASA), local press reported.

Passenger traffic in Cape Verde’s airports registered a 3.4% decrease in 2013, dropping from 1,849,455 passengers in 2012 to 1,786,702 last year. International traffic was up 6.2%, while domestic traffic fell 15.2%. Tourism was the main driver of international activities at Cape Verde’s airports, particularly on São Vicente (up 25.5%), Sal (up 11.6%), Santiago (up 2.4%) and Boa Vista (up 0.2%). Aircraft traffic, however, was down 18.6% as a result of the slowdown in domestic travel activities (A Semana).

TACV Cabo Verde Airlines is offering passengers on the Cape Verde-Lisbon-Cape Verde route the possibility to travel with two pieces of luggage weighing at most 23 kilograms each. After being made available on flights to and from France since January 15, the promotion has now been extended to flights between Cape Verde and Portugal. According to sources at the airline, this increase in the weight allowance will remain in effect throughout the year, except during the high season, A Semana reported.

The handling company that is being set up by Cabo Verde airline Transportes Aéreos de Cabo Verde (TACV), to be transferred to airport manager Aeroportos e Segurança Aérea (ASA), is due to start operating in the first quarter of this year, weekly Cape Verdean newspaper A Semana said.

AGORA TAMBEM EM PORTUGUES!

O Grand Tour de Cabo Verde esta a ser traduzido em Portugues! Começamos na Ilha de Santiago e ja seguimos para a Ilha de Sao Vicente e a Ilha de Santo Antao

SPLIT SECOND POLL

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