Business in Cape Verde

EENI- School of International Business

Subject: Doing Business in Cape Verde (Africa). Syllabus:

1. Introduction to the Republic of Cape Verde (West Africa)
2. Doing Business in Praia
3. The Cape Verdean Economy
4. Foreign Trade of Cape Verde
5. Business and Investment Opportunities in Cape Verde
6. Tourism sector
7. Cape Verde Investments
8. Introduction to Portuguese
9. Access to the Cape Verdean Market
10. Business Plan for Cape Verde

The aims of the subject “Foreign Trade and Doing Business in Cape Verde” are the following:

1. To analyse the Cape Verdean economy and foreign trade
2. To evaluate the business opportunities in Cape Verde
3. To explore Cape Verde's trade relations with the student's country
4. To know Cape Verde's free trade agreements
5. To develop a business plan for the Cape Verdean Market

Sample of the subject - Doing Business in Cape Verde:

Description of the Subject: Foreign Trade and Business in Cape Verde.

Cape Verde: one of the World's fastest growing tourism sector

The Republic of Cape Verde:

1. Archipelago formed by ten Islands (Atlantic Ocean)
2. The capital of Cape Verde: Praia
3. Area: 4,033 square kilometres
4. Cape Verdean population: 491,000 inhabitants
5. Life expectancy: 70 years
6. The official language: Portuguese
7. Local language: Creole
8. Politics: Democratic Semi-Presidential with multiparty system
9. The nearest countries (by sea): Senegal, the Gambia, Guinea Bissau, Mauritania, and Spain (Canaries)
10. Independence of Cape Verde: 1975 (Portugal)

The main religion of Cape Verde: Christianity Catholicism (90% of the population).

Cape Verde belongs to the West African Economic Area of the African Civilisation.

The Economy of Cape Verde (Africa);

1. Leading in civil liberties, political rights, and stability in Africa (Freedom House Report)
2. Uncorrupt bureaucracy
3. Service oriented economy
4. The main sectors of the economy: services (70% of GDP, mainly tourism), agriculture (bananas, potatoes, sugar-cane, coffee, and peanuts), fish, and textiles
5. The industry sector: 8% of GDP
6. Informal sector: 70% of jobs/25% of GDP
7. Cape Verdean GDP growth: 3.1%
8. The inflation: 1.8%
9. The main trade partners: The Euro-Zone countries (mainly Portugal)
10. Currency: Cape Verdean Escudo (peg to the euro)
11. Special regime for SME
12. Existence of Free-Zone Enterprises
13. Open to foreign direct investment (FDI)
14. 90% of the food is imported

Cape Verde's Preferential trade agreements:

1. Economic Community of West African States (ECOWAS)
2. Community of Sahel-Saharan States (CEN-SAD)
3. African Growth and Opportunity Act (AGOA)
4. The European Union: Cotonou Agreement - Generalised System of Preferences - Special Partnership Agreement (SPA) with the EU

Cape Verde is a member of:

1. Economic Commission for Africa (ECA)
2. Forum on Sino-African Cooperation
3. African Development Bank
4. Forum Africa-India
5. Community of Portuguese Speaking Countries
6. Africa-Japan
7. Afro-Arab cooperation - Arab Bank for Economic Development in Africa (BADEA)
8. New Partnership for Africa's Development (NEPAD)
9. African Union - Convention on Preventing and Combating Corruption
10. Africa-South America Summit (ASA)
11. Africa (Cape Verde)-Asia Strategic Partnership
12. World Bank (WB), the International Monetary Fund (IMF), the World Customs Organisation (WCO), World Trade Organisation, UN

English - Portuguese