COUNTRIES BRIEFS
Businessafrica.net Newsletter ISSN 1563-4108
Dr. QUENUM & ASSOCIATES
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Cape-Verde's portal - THE REPUBLIC OF CAPE-VERDE - BRIEFS

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PRESENTATION

The Republic of Cape Verde is an archipelago with a total area of: 4,033 sq. km.

The Cape Verde Islands are located in the mid-Atlantic Ocean some 620 kilometers (385 mi.) off the coast of Senegal / Mauritania in Western Africa.

The archipelago consists of 10 islands and 5 islets, divided into

a- the windward (Barlavento)
b- and leeward (Sotavento) groups.

The six islands in the Barlavento group are Santo Antão, São Vicente, Santa Luzia, São Nicolau, Sal, and Boa Vista.

The islands in the Sotavento group are Maio, Santiago (where 50% of the people live), Fogo, and Brava.

All but Santa Luzia are inhabited. Population: 400,000 (1999); 412,137 (July 2003 est.) Annual growth rate (1994-2000): 2.5%; 0.79% (2003 est.). People per sq. km: 99.25 (the highest in the whole Africa)
Main cities: Capital: Praia (pop. 78,675). Other city: Mindelo (pop. 53,300 - on the island of São Vicente )

Independence from Portugal: July 5, 1975.
Constitution: 1982; revised 1992

Natural resources: Salt, pozzolana, limestone.

Agriculture productions: bananas, corn, beans, sugarcane, coffee, fruits, vegetables, livestock products.

Industrial productions: fish and fish products, clothing, shoes, beverages, salt, cement, building materials, ship repair, furniture.

Cape Verde is the country of survival where everything which could be scrapped to make a living had been exploited.

Democracy is now firmly established with regular legislative and presidential ballots. Governments are dedicated to developing a country not endowed with attractive natural resources on which to build a strong economy.

The archipelago experienced recurrent drought and famine since the end of the 18th century. Consequently Cape Verdeans emigrated to greener pastures around the world. In fact, the amount of people of Cape Verde ancestry living abroad far exceeds the local population. There are more than 1 million; some 500,000 living in the United States, mainly in New England. Portugal, Netherlands, Italy, France, and Senegal also have large communities. They largely contribute to the country's GNP by the remittances they send back home to their family.

However, if the archipelago does not have attractive natural resources, it has a strategic geographic positioning. The islands are right on mid-Atlantic Europe / Americas shipping and air-carriers routes. That position made Cape Verde an ideal location for resupplying ships and airplanes at Mindelo's harbor (Porto Grande) and at Sal's international airport. Ship repair facilities at Mindelo were opened in 1983. The equipment and infrastructure of Mindelo and Praia's harbors had been recently upgraded to provide better service at competitive prices.

The economy of Cape Verde is service-oriented, with commerce, transport, and public services accounting for almost 72% of GNP in year 2001 up from 68% in year 1999. Although nearly 70% of the population lives in rural areas, the share of agriculture in GNP in 2001 was only 11% (2001) up from 8.6% (1999), of which fishing accounts for 1.5%. About 90% of food must be imported. There are certainly opportunities in hydroponics agriculture (using sea water like in Hawai) to produce grass plants for cattle ranching and cater for local market's needs for meat.

Fishing is another economic activity, which development on industrial basis could help Cape Verde fill the food deficit gap and earn some hard currency through export of fish. Click here to view a business opportunity in the fishing sector.

Market-oriented economic policies undertaken - since 1991 - by Cape Verdean governments put emphasis on improving the investment atmosphere to attract foreign investment and implementing a far-reaching privatization program.

Any international investor looking for an offshore location to diversify its production and business should consider Cape Verde: good governance, multy-party democracy, well educated labor force, competitive salary scale. Cape Verde is member of Ecowas - Economic Community of West African States. There are business opportunities in services out sourcing, tourism and fisheries.

For updated news about Cape Verde click here

MORE ON CAPE VERDE

1- D&B Export Guide To Cape Verde
Digital Delivery In PDF by D&B
2- The Syntax of Cape Verdean Creole
The Sotavento Varieties : by Marlyse Baptista
3- Atlantic Peeks
An Ethnographic Guide To Portuguese Speaking Islands / by Jan Ludtke
4- Six Writers
From Angola, Mozambique & Cape Verde
by Donald Burners
5- Waiting For Rain
Agriculture And Ecological Inbalance In Cape Verde
by Mark Langworthy

Click to contact Dr. Bienvenu-Magloire Quenum

TOP

SOME FIGURES

GNP: US$ 395 million (2001); US$ 406 million (2002); US$ 422 million (2003)
GNP-growth rate: 2.5% (1998-1999); 6% (2000); 3% (2001); 4% (2002 est.)
GNP-per capita: US$ 100 (2000); 103 (2003)

Click here for the difference between GNP and Parity Purchasing Power

GNP-composition by sector

  1. agriculture: 11%

  2. industry: 17%
  3. services: 72% (2002)

Exports: US$ 40 million (f.o.b. 2000); 30 million f.o.b. (2002 est.)
Commodities: shoes, lobster, fish, garments, bananas, hides.

Imports: US$ 250 million (f.o.b. 2000); 220 million f.o.b. (2002 est.))
Commodities: foodstuffs, consumer goods, industrial products, transport equipment, fuels.

FOR CURRENCY EQUIVALENCE CLICK HERE

ENTRY POLICY / HEALTH POLICY


A passport and visa are required. Travelers should obtain further information from the Embassy of the Republic of Cape Verde or from the National Institute of Tourism


USA
Embassy Of Cape-Verde

3415 Massachusetts Avenue, NW
Washington, DC 20007
Tel: +(1) 202 965-6820
Fax: +(1) 202 965-1207
Website URL: Click here
E-mail: Click here

The National Institute of Tourism
INATUR
Cha d'Areia, Praia,
C.P. 294
Santiago
Tel: +(238) 61-44-73
Fax: +(238) 61-44-75

AIR-LINKING / TRANSSHIPPING


The national flag carrier is Cape Verde Airlines (Click here for website) is operating since more than 40 years with regular schedules to Europe and West Africa (Senegal)

Cape Verde's strategic location at the crossroads of mid-Atlantic air and sea lanes made it easy to have connections from Mindelo's harbor (Porto Grande) and at Sal's international airport.

INVESTOR CONTACTS
Chamber of Commerce and Industry
Camara de Comercio, Industria y Servicos
Libertadores De Africa 15
Box 105
Cape Verde
Tel: +(238) 617234
Fax: +(238) 617235
Click here to review funding available to rebuild power generation system
ACCOMMODATION


Below are listed some hotels and residences. You can expect to pay around US$10-25 for budget accommodation. Mid-range hotels will charge around US$25-50, with the top-end hotels reaching US$50 and upwards.

Credit cards are not commonly accepted and it is recommended that you take travelers checks or cash for most of your monetary needs.

For more on availability of hotel, contact the National Institute of Tourism - INATUR

Hotel Dunas
Sal-Rei
Tel.: +(238) 51 12 25
Fax: +(238) 51138
Residencial Bom Sossego
Tel: +(238) 51 11 55
Residencial Boa Esperança
Sal-Rei
Tel: +(238) 51 11 70
The National Institute of Tourism
INATUR
Cha d'Areia, Praia,
C.P. 294
Santiago
Tel: +(238) 61-44-73
Fax: +(238) 61-44-75

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