Cabo Verde Plans to Privatise State Companies by 2025

The government of Cabo Verde plans to privatise or concession nine state companies by the end of the first half of 2025, according to Olavo Correia, the deputy prime minister. The process began with the initial public offering (IPO) of shares held by the state in Caixa Económica on the Cabo Verde Stock Exchange. However, the timeline for privatisation depends on market conditions and uncertainties in global conflicts and the economy. The government aims to attract the best investors, with special partnerships with the EU and the US.

The model for privatisation will be determined through technical studies for each public company. The nine companies, including CV Handling, ENAPOR, Emprofac/Inpharma, Cabo Verde Telecom, and Estaleiros Navais de Cabo Verde, will be assessed individually. Privatisation aims to increase efficiency in crucial sectors such as transport, energy, water, and telecommunications, while reducing fiscal risk for the state.

Prior privatisations include maritime transport connections, air links, and airport management. Cabo Verde wants to tap into its natural potential for economic growth to create job opportunities and combat extreme poverty. Despite being a small economy in a competitive global market, the government is working towards attracting good investors to achieve its goals.