Africa-Press – Cape verde. The Cape Verdean Government will launch a Public Sale Operation (OPV) of 27.44% of the shareholding held by the State in Caixa Económica de Cabo Verde (CECV), starting the privatization agenda, it was announced today.In a statement, the Government of Cape Verde said that the launch of the Public Sale Operation (OPV) of 27.44% of the shareholding held in Caixa, on the Cape Verde Stock Exchange, will be held on January 10th.
The share sale period will be between 08:30 local time on January 11th and 15:00 local time on February 23rd.
The sale price of the shares is 4,080 escudos/share (37 euros/share) and can be subscribed through the Blu-X platform, on the Stock Exchange, or at the main commercial banks in the area.
With this operation, the Government stated that the objective is for the State to stop “from being an active agent to becoming a regulatory agent”.
“The process of partial sale of Caixa shares was planned to ensure transparency, in line with securities market rules, application of best international practices, good governance and guarantee the participation of the private sector and civil society” , said the executive.
He also highlighted that the operation aims to promote economic development, competitiveness, employment and growth, strengthening the business environment in the archipelago.
“Since Caixa is an institution listed on the stock exchange, the sale of its shareholding provides an investment opportunity for families in the country and in the diaspora, to diversify the investment portfolio and encourage savings”, according to the same source.
Caixa is one of the largest banks in the Cape Verdean banking sector, with net assets of 3,503,409 thousand escudos (31,773 thousand euros), own funds reaching 7,388,464 thousand escudos (67,006 thousand euros) and a ratio of solvency standing at 24.30%, on September 30, 2023, presenting “great economic and financial solidity”.
In 2022, the bank had 38 agencies/counters and three delegations, had 355,566 customers and 371 employees and recorded a new record profit of 11.1 million euros, an increase of 27% compared to 2021, according to the institution.
According to the Government, in 2022 Caixa was also considered “the most digital bank in the sector”, being also owned by the National Institute of Social Security, with 47.21%, and by the public company Correios de Cabo Verde, with a stake of 15 .14%, while other subscribers and collaborators have 10.21% of the shares.
The agenda of companies subject to privatization, partial sale, concession and public-private partnerships also included companies linked to port operations, the pharmaceutical sector, airport cargo management, water, electricity, telecommunications, the energy sector and transport.
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