Africa-Press – Cape verde. The president of the Cape Verdean Association of Lisbon, Dulcineia Sousa, today classified as a “good measure” the creation of bonds on the stock exchange aimed exclusively at the diaspora, which the Government intends to create this year.“This is a good measure, very interesting, given the financial remittances from emigrants in the diaspora,” the leader of the oldest Cape Verdean association in the diaspora, created in 1969, currently has almost 1,600 members, told Lusa.
In November, the Minister of Communities, Jorge Santos, announced that Cape Verde is preparing the creation of bonds on the stock exchange aimed exclusively at the diaspora, starting in the first half of 2024 and which can be issued by the State or private parties.
According to the official, the diaspora made financial remittances to Cape Verde worth more than 400 million euros in 2023.
Jorge Santos said that the process has been being prepared for two years, with the participation of the United Nations, the European Union (EU), Luxembourg, among other partners, in collaboration with the Cape Verde Stock Exchange (BVC), foreseeing will be presented in the first half of this year.
For the president of the Cape Verdean Association of Lisbon, the measure will diversify financial investment, “could contribute to the balance of the country’s budgetary balance” and will be a “fundamental element in the balance of payments of the State of Cape Verde”.
On the other hand, Dulcineia Sousa argued that, as soon as the obligations are available, there must be “quick, clear, concise and very assertive” information, to avoid any “noise or redundancy”.
“A greater commitment to the financial education of citizens is essential, especially with regard to financial literacy. In this field of activity, the media have a fundamental role”, he considered.
For the same source, it is an “added value”, which enhances investment in the country, with “favorable conditions” and “tax incentives” that allow its operation.
At the time he announced the project, minister Jorge Santos said that the subscription of the bonds will benefit from the incentives and tax exemptions already created and included in the State Budget, so that the diaspora has even better conditions to be able to invest in the capital market in Cabo Green.
The Cape Verdean Association of Lisbon carries out cultural and recreational activities and supports young talents, being one of several entities that bring together members of the Cape Verdean diaspora, around 1.5 million people, triple the population of the archipelago.
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