Africa-Press – Cape verde. Cape Verde is already part of the group of 30 African states that are shareholders of the financial institution Africa 50, which ensures financing for infrastructure on the continent.
According to a government source, quoted by RTC, the contract that formalizes Cape Verde’s entry as a shareholder in the institution was signed last week in Marrakech, Morocco, during the General Shareholders’ Meeting.
“Cape Verde’s accession to the group of shareholders of this important financial platform takes place at a time when the country is emerging from a major economic recession, as a result of the pandemic, the largest in Africa and in the group of Small Island Developing States, and as a result of our strong dependence on the tourism sector”, said the Secretary of State for Business Development, Adalgisa Vaz, who represented the Government at the signing of the country’s adhesion.
financial platform
The executive or the institution did not reveal data on this operation, and according to the latest update available from Africa 50, Cape Verde is the only Portuguese-speaking country in Africa in that structure.
The institution describes itself as a “financial platform” that aims to “contribute to the growth of Africa, through the development and financing of projects, catalyzing public sector capital and mobilizing private financing”.
Before the General Assembly, it had 31 shareholders, including 28 African States, the African Development Bank, the Central Bank of West African Countries and the Al-Maghrib Bank, these three guaranteeing, according to 2020 data, financing of 878 million euros. dollars.
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