Cape Verde looks to increased investment, tourism and trade

Cape Verde has been nominated as a safe destination for foreign investment by the Mo Ibrahim Foundation, the country shows exemplary economic promise due to its political stability, strategic location and investment-friendly rules and institutions. 

In line with the immense potential, Capital Consulting Group seeks capital via Dubai-based road show for aviation hub on Cape Verde Islands. The aim of the road show is to follow in footsteps of Dubai so 50 million passengers have access to Africa via Cape Verde Islands.

Cape Verde has a combined GDP of US$703 billion and all the above factors have led to increased investment, tourism and trade from Europe and Americas in recent years. Cape Verde now wants to develop its economy further, and having studied a number of successful global aviation hubs, they believe Dubai’s is the one they should use as their blueprint.

Capital Consulting has thus engaged Naseba to organise a road show in Dubai on 27-28 November at the Ritz Carlton in DIFC to raise capital for the creation of a strategic aviation hub on the Cape Verde Islands which will cater for 50 million passengers per year.

The project will be executed in three phases via a long term plan. Phases one and two will see an investment of EUR310m create 15,000 new construction jobs and develop airline and airport so they are fully operational. The final phase, requiring investment of a further EUR3bn, will ensure the goal of a consumer-centric and commercially driven strategic aviation hub is achieved, similar to Dubai International Airport. It will also see a further 75,000 jobs created in Cape Verde.

Mário Paixão Lopes, president of the Board of Administration of The National Airport Authority (ASA), explained: “Our airports are a central part of our government strategic plan to grow and become an important aviation hub in the region. Travel, tourism, trade and hospitality are some of the sectors identified as key drivers of our growth.”