afrol News / A Semana, 4 April - The project for the implementation of a new bank in Cape Verde was presented today in Praia. The project is the result of a partnership between Cape Verdean and Angolan businessmen.

The new financial institution, which will initially be called Novo Banco de Cabo Verde (New Bank of Cape Verde), will have a social capital of 600 million escudos, 40% of which will be Cape Verdean capital and 60% Angolan capital. The bank will begin operating in the second half of this year with three branches on the islands of Santiago, São Vicente and Sal and, at a later stage, throughout all of Cape Verde.

According to the president of Angolan petroleum company Sonangol’s administrative council in Cape Verde, Silva Neto, the Novo Banco de Cabo Verde is intended mainly to penetrate the Cape Verdean and Angolan markets, and, subsequently, “all of the lusophone countries and later the world.”

The project is aimed at giving Cape Verdeans and Angolans yet another choice in terms of banking options, as well as at improving the competitiveness of the financial and banking system in Cape Verde. “We don’t want to eliminate any competitors, but rather bring more options and ambitions,” stressed Silva Neto.

The initiative’s promoter in Cape Verde, Jorge Spencer Lima, highlighted the importance of this new investment opportunity for Cape Verdean business operators, considering the fact that the Novo bano de Cabo Verde is a “well-positioned project in the financial market, able to respond quickly to the main challenges faced today in the Cape Verdean economy.”

By staff writers

© afrol News / A Semana

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