Investment Opportunities in Cape Verde

There are few regulatory barriers to foreign investment in Cape Verde.  Foreign investment in Cape Verde is concentrated in tourism, fishing, transportation and energy are attracting most of the investment.

Fishing

Cape Verde’s waters are rich in under-exploited marine resources, creating a great potential for investments in the fishing industry.

The fishing industry is growing and contributes to a large portion of the country’s exports. However, Cape Verde has fishing potential yet to be fully exploited.

Two major international fishing grounds surround the islands, which are scattered across

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Enabling business environment

Political stability in the country creates an enabling environment for doing business in Cape Verde.

Tourism

Currently the islands of Sal (alone, 65% of tourism activities in the country), Boa Vista, Sao Vicente and Santiago are preferred there is growing need for modern accommodation facilities on other islands as well

Transport Sector

One of the main priorities in the transport sector area is to transform Cape Verde into a shipping support platform and a regional air transportation hub.

Sea Cluster 

As far as a Sea Cluster is concerned, the Government is now promoting the Island of S. Vincent as a Regional Center for processing, marketing and export of marine resources. Investments are welcomed in cold storage, ship repair and maintenance, transshipment and Bunkering and handling facilities, along with major public-private partnerships for the construction and management of a new deep sea Port and of a Cruise Terminal in the Island of S. Vincent.

Air Cluster

Investments are very much welcomed into an Air Cluster, mainly in the privatization of the national air carrier – TACV. The government is aiming at a strategic partnership for the development of synergies on traffic and economically profitable activities and operations with African, European and South and North American markets/destinations, along with major opportunities in the concession of the four major international airports operations and services. A niche of opportunities exists within this cluster for aircraft maintenance and handling and air navigation services.

Energy Sector

Cape Verde’s ambitious growth plans in the energy sector is to have 50 percent of electricity come from renewable energy sources by 2020 which will require big investments in power and water infrastructure, and their use of alternative energy presents great opportunities.

Cape Verde has one of the best wind regimes in the World (18m/s) and a great potential for solar energy with a ratio of 6-8 kWh/m²/day.

Information and Communication Technology

Another priority area is in Information and Communication Technology, which is set to play a lead role in the economic development of the country in the medium and long terms.

For more reading: Investment Opportunities in Cape Verde

 

 

About The Author

John Muhaise-Bikalemesa (JMB), is the founder of Muhaise.com blog and bigdrumassociates.com company. Learn more about him here and connect with him on his social medias below

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