Africa Cabo Verde Cape Verde FA Finance Investing

Head of Cape Verde Sovereign Wealth Fund appointed

As per Resolution of Minister Council last January Mrs. Adalgisa Vaz (degree in Economics and a master’s in international Banking and Finance) was recently appointed as Chairwomen of Board of Cape Verde Sovereign Wealth Fund.

The Sovereign Wealth Fund will be subject to Bank of Cape Verde supervision and will account with an initial capital of €90M aiming to directly or indirectly fund and support country economic recovery, in the face of the crisis caused by the covid-19 pandemic.

With a strict investment framework, the Sovereign Wealth Fund will be required to continuously present a minimum ‘A’ rating (provided by international rating agencies reviews) and will be supporting private initiative based in Cape Verde, being restricted to support companies in which State directly or indirectly owns more than 25% of issued share capital.

The Sovereign Wealth Fund shall have a significative role on supporting growth and stabilization of country’s economy through diversification policies, targeting a significative wealth creation for future generations.

Also read: Cabo Verde benefits from World Bank Debt Service Suspension Initiative (DSSI)

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