Portugal & Cape Verde Pitch ‘Strategic Bridge’ to Investors
PRAIA, Cape Verde – The presidents of Portugal and Cape Verde have issued a joint call to the private sector to transform the Atlantic archipelago into a high-speed “business bridge” connecting the European Union with West Africa.
A Two-Way Atlantic Platform
Speaking at the opening of the Cape Verde-Portugal Economic Forum on Monday, Portuguese President António José Seguro emphasized the need to move beyond traditional trade and toward deep strategic integration. The forum marks a centerpiece of his official state visit to the Lusophone nation.
“We must build a two-way Atlantic platform,” Seguro told an audience of business leaders. “Cape Verde can bring Portuguese companies closer to West Africa, while Portugal can facilitate Cape Verdean companies’ access to the European market.”
Cape Verdean President José Maria Neves reinforced this vision, urging investors to look past the archipelago’s small population and focus on its strategic geography. “Entrepreneurs can no longer see Cape Verde as a small market, but rather as a gateway to the entire West African region,” Neves said, highlighting the country’s membership in the Economic Community of West African States (ECOWAS).
Turning Diplomacy into Dollars
While bilateral relations between Lisbon and Praia are at an all-time high, President Seguro warned that diplomatic “excellence” must translate into tangible economic outcomes. “The first challenge is to execute,” he stressed, pointing to several key financial instruments currently in motion:
- A €100 million credit line: Currently being finalized to support specific business projects.
- Debt-for-Climate Conversion: A €42.5 million mechanism where Cape Verdean debt to Portugal is redirected into the country’s new Climate and Environmental Fund.
“These instruments must reach companies and transform into projects, jobs, exports, and better living conditions,” Seguro said.
Honoring the Past, Planning the Future
The second day of the state visit began with a solemn session at the National Assembly and will include meetings with Prime Minister Francisco Carvalho. However, the itinerary also includes moments of historical reflection. The two presidents are scheduled to visit the Museum of Resistance in Tarrafal to lay a wreath in memory of those who suffered in the concentration camp during the Portuguese colonial era.
The day’s events will conclude with visits to the historic Cidade Velha—the first European colonial outpost in the tropics and a UNESCO World Heritage site—and a luncheon hosted aboard the Portuguese Navy ship Bartolomeu Dias.
Image: Pexels – Carlo Jünemann
