OPINION:
The Cape Verde Stock Exchange (BVC) was founded in 1998 in a broader context of policy reforms to encourage private initiative in Cape Verde. The privatization of public companies required a market for the sale and distribution of stocks and the subsequent trading of those securities. Many state-owned enterprises in finance, telecommunications, pharmaceuticals, construction, electricity and water, tobacco, fuel and other sectors were subsequently privatized through the market mechanism.
The benefits of African market integration following the signing of the AfCFTA have already been recognized by the stock exchanges in the region with the establishment of the WACMIC (West African Capital Market Integration Council) in 2013 with the ultimate goal of a unified capital market for ECOWAS and then at the African level. “The AfCFTA initiative and the arrangements to simplify and harmonize various legal and bureaucratic regulations, including free market access, will provide the BVC with opportunities to access new and broader markets in terms of bond issuance at an international/regional level in relation to its strategic positioning and maximization through North-South partnerships (e.g.: BVC, WACMIC, Luxembourg Stock Exchange, Euronext)”, explained Miguel PS Monteiro, Chairman of the Board of Directors. This combination of new regulations and partnerships will help unlock the potential of innovative products, particularly those targeting SMEs that will benefit from free trade and its spillover effects.
BVC is taking important steps to support the economy in the region and we look forward to exploring new partnerships to develop our sustainable financial services as they align with building the Blu-X platform in partnership with the United Nations Development Program into a Entering a New Era (UNDP) aiming to attract regional and global investment for a sustainable and inclusive economy by listing sustainable financial instruments
“Investors should act now to capture opportunities in emerging catalytic sectors including digital economy, renewable energy, blue economy, agribusiness, light manufacturing and tourism. The Cabo Verde government offers many incentives for foreign investment, including the issuance of diaspora bonds to our community in the United States.
Visit BVC and Blu-X online for the full range of innovative and sustainable financial instruments we offer,” emphasized Mr. Monteiro.
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