africa Banking Cape Verde Economy Energy Government

World Bank supports Cape Verde electricity privatisation

The World Bank will provide technical assistance from this month onward to the Cape Verdean government with a view to the privatisation of state power and water company Electra, announced the Minister of Industry, Trade and Energy in statements made on Monday in Praia.

Alexandre Monteiro, who was speaking on the sidelines of the hearing at the Parliament’s Specialised Committee on Economy, Environment and Land Planning, suggested that the government would privatise Electra during the current term of office, according to Cape Verdean news agency Inforpress.

“We are working towards this [privatisation of Electra],” said the minister, adding that the technical assistance provided by the World Bank would indicate not only the strategy but also the schedule of the process.

Adding that there is already a baseline study on the privatisation of Electra, Monteiro said that this was a “complex process,” and there was concern about electricity production to guarantee the energy transition programme that the country is following.

Source: Macauhub

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