Atlantico Business Development, a Dutch consultancy focused on Portuguese speaking countries, has produced a practical guide for doing business in the agribusiness sector in emerging Cabo Verde. Cabo Verde today is growing fast as a holiday destination for European tourists, combining political stability, security and guaranteed good weather. At this moment the country receives about 600.000 tourists per year, a number that is expected to rise by 2019 to around 1 million per year. Cabo Verde even has the potential to host between 2 and 3 million tourists per year in a decade or so, which would make the country one of Africa’s most important tourist destinations. These fast growing numbers of European tourists will need to be supplied continuously with good quality fresh food and other products, which at this moment poses an enormous challenge to the Cabo Verde tourist sector. Continue reading “Opportunities in Cabo Verde’s agribusiness”
Atlantico Business Development, an international consultancy based in Rotterdam and focused on doing business in Brazil and Portuguese speaking Africa, is expanding its services. A full overview of Atlantico’s services as well as the markets where the company operates presently is available at their website, Atlantico Business Development.
New services include among other things “partner and agent search”, which is extremely important for SME’s when doing business in faraway and high cost markets such as Brazil, Angola and Mozambique. No doubt Atlantico Busines Development will live up to its slogan “trusted, dedicated and effective” regarding this service as well.
Cabo Verde’s economy has continued to face significant headwinds, and the economy is estimated to have stagnated in 2013, the IMF reported. An International Monetary Fund (IMF) mission visited Cabo Verde from January 15-28, 2014. The mission met with the Minister of Finance and Planning Cristina Duarte, Central Bank Governor Carlos de Burgo, other government officials, parliamentarians and representatives of civil society, development partners, and the private sector. At the conclusion of the mission, the IMF issued the following statement: Continue reading “IMF advises Cape Verde to reign in spending”
The August 30th Edition of Atlantico Weekly is ready for you, with: more Chinese doctors for Cape Verde, AfDB invests in Cape Verde tech sector, Sao Vicente Fashion Week, Angolan president not stepping down, why Angola blocks a customs union, a Spar for Luanda, from dollar to kwanza trading, Statoil betting on Angola, Fugro wins big Angola order, Coal India in Mozambique, Maputo fair under way, Anadarko sell Rovuma stake, a Thai hotel for Bazaruto, Cape Verde Business News, Angola Business News and Mozambique Business News.
Arnout Nuijt, Editor-in-Chief of Atlantico Weekly and CEO of Atlantico Business Development (an international consultancy specialized in Portuguese speaking Africa), spoke with Cape Verde’s Prime Minister José Maria Neves.
Prime-minister, thank you for talking to Atlantico Weekly. First of all allow me to congratulate you on the 38th anniversary of your country’s independence from Portugal. Cape Verde has made great economic gains over the last few years. How will you maintain economic growth in the future? Thank you. Our strategy is to become an international services hub. Cape Verde does not possess any natural resources, like oil or diamonds. We have our people and we have sun, freedom and lots of opportunities. Our tourism sector grows by 25% annually and we will probably reach the one million tourists per year mark by 2017. Our maritime opportunities are huge too. With our new maritime borders we will control around 1 million square miles of sea, covering strategic international shipping lanes.
We are developing our economy around various clusters of opportunities. Let me mention for instance the Sea Cluster, which brings together our opportunities in logistics, fisheries, ship repair, bunkering, cruise terminals, etc. Next we have the cluster for renewable energies. It’s our aim to reach up to 100% energy dependency on renewables by 2020. We are now at 30% by the way. We don’t have an oil company like Sonangol in Angola, but we will build our own Sonangol in renewable Continue reading “Islands of Sun and Freedom in a Sea of Opportunities”
The rise of the what? Another acronym, you say? Well, why not? In Portuguese the countries are called PALOPs, the Paises Africanos de Lingua Oficial Portuguesa (or African Countries with Portuguese as Official Language). So we call them PACs. Three PACs have become booming economies and nobody is stopping them: Cape Verde, Angola and Mozambique. Business opportunities abound and the three countries share some striking similarities that set them apart from the rest of Africa. Though they do not number that many inhabitants (all three put together not more than 50 million), they jointly constitute a cluster of very distinct African markets, well worth exploring. So are these PACs the new thing we have been waiting for? How real is their rise? Continue reading “The Rise of the PACs: Meet three booming Portuguese-speaking African Countries”
By Arnout Nuijt
A recent article in The Economist gives an optimistic picture of Brazilian companies heading en masse for Africa’s booming economies, “laden with expertise and capital”, thus creating a new “Atlantic alliance” between Brazil and Africa. We hate to be critical, but is this really happening or is it wishful thinking?
Yes, Africa is booming and Brazil is so close and so well adapted to tropical circumstances, that a huge opportunity for doing business with African nations has arrived. Brazilian companies indeed should take advantage of Africa’s new wealthy middle classes, its plethora of mining opportunities and its own supply of innovative products fit for tropical circumstances, such as vehicles and household appliances. But let’s get back to the facts. Total Brazil trade with the world was 383 billion in 2010, of which Sub-Sahara Africa took a modest 3,18 %. Continue reading “Can Brazil Conquer Africa’s Booming Markets?”
By Arnout Nuijt
While the Cape Verde government recently announced the creation of a (government staffed) working group that has to find ways to attract more and cheaper flights to the country, two other aviation related news items – involving national carrier TACV – are worth mentioning. Firstly the Cape Verde press reported that TACV needs 50 million Euros to pay off its debt and secondly it appears that the two newly acquired TACV Boeing 737’s (bought to replace its ageing Boeing 757’s) do not have the sufficient range to fly fully loaded to and from its core destinations, such as Boston, Paris, Amsterdam or even Lisbon. The company is therefore planning to lease a Boeing 767 for its longer haul flights.
The latter is strange news. The most recent types of 737’s should have the right range for serving those destinations. In fact, the Dutch company Arkefly (part of the Tui group) operates 737’s on its Amsterdam – Boa Vista route, a flight that takes 6,5 hours, much more than the Praia-Lisbon route, and the planes are full. Arkefly also uses the 737 on its Amsterdam-Fortaleza route, though with a refueling stop on Sal Island. So, what’s wrong with the TACV planes? Is TACV trying to carry extra cargo on top of the passenger’s luggage? That might just not be possible. TACV is often painted in the Cape Verde press as inefficient and prone to mismanagement. Is this recent acquisition just another example and another missed opportunity for TACV? Let’s take a good look at the challenges that face TACV as well as the opportunities for the aviation industry in Cape Verde. Continue reading “Cape Verde’s Unique Aviation Opportunity”