How does access to securities and direct investment projects differ in Cabo Verde?

You buy securities through a licensed operator on the regulated BVC market. Direct projects are supported through CVTI and BUI and may require permits, licences and a project review depending on the undertaking.

How do I buy securities through the capital market in Cabo Verde?

You need an account with a licensed operator, an investor form or an order through Bolsa Direto or Blu-X, as well as a registry or custody account. The order is executed only if a matching counter-order is available.

Which forms of investment are practically documented on the capital market in Cabo Verde?

Documented forms include shares, government and Treasury securities, corporate, municipal and sustainable bonds, investment funds and venture-capital funds. Commercial paper has been regulated since Decree-Law No. 35/2024; reliable local retail availability of ETFs, robo-advisory offerings or cryptoassets has not been established.

What risks do securities investments in Cabo Verde involve?

In addition to price and default risks, the small market creates liquidity and concentration risks, and a sale is not guaranteed. Foreign securities also involve foreign-exchange, broker and regulatory risks.

Can a resident of Cabo Verde buy foreign securities?

Yes, purchase through authorised foreign exchanges or brokers is possible. Foreign-exchange and reporting obligations, as well as foreign-currency, broker and regulatory risks, must be checked before purchase.

Investing in Cabo Verde

Investing in Cabo Verde includes securities traded on the regulated capital market as well as direct interests in companies and projects. The local market mainly offers government and corporate bonds, alongside shares, funds and some other types of securities. Small market volumes and an illiquid secondary market can make selling difficult.

Tip

First determine whether you seek regular income, capital preservation, capital appreciation or a direct interest in a project in Cabo Verde. For the local capital market, bonds and Treasury securities are generally more suitable than short-term tradable investments because the secondary market may be illiquid. Commit only capital that you do not urgently need before maturity or a possible sale, and check providers, fees and risks before every order.

byDulce&Nuno

On the capital market in Cabo Verde, investors trade shares, corporate, municipal and sustainable bonds, government bonds or Treasury securities, as well as investment funds and venture-capital funds. Commercial paper is regulated by Decree-Law No. 35/2024 (Decreto-Lei n.º 35/2024). Derivatives are mentioned in law, but reliable evidence of local availability for retail investors has not been established. For exchange-traded securities, the Cabo Verde Stock Exchange (Bolsa de Valores de Cabo Verde), or BVC, is the regulated market. The capital-markets regulator (AGMVM), under the central bank of Cabo Verde (Banco de Cabo Verde), supervises the capital market. Licensed stock-market operators (Operadores de Bolsa), including BCA, CECV, BCN, BAI, BI and iiB, accept and forward orders. You need an account with a licensed operator, an investor form or an order through the direct-exchange service (Bolsa Direto) or electronic trading platform (Blu-X), as well as a registry or custody account. An order is executed only when a matching buy or sell order is available. According to BVC information, transferring securities to third parties requires approval from the regulator. Direct investments follow a different route. They can use capital, tangible assets or intangible assets to establish, modernise or expand a company or project. The investment-promotion agency (Cabo Verde TradeInvest), abbreviated CVTI, and the one-stop investor service (Balcão Único do Investidor), or BUI, support such projects, coordinate permits and licences where applicable, and may help with partners or funding opportunities. The CVTI FAQ gives a minimum size of 50,000,000 ECV for investment projects and mentions a review period of up to 75 days. Because these figures partly come from older website content, you should confirm the threshold and procedure directly with CVTI or BUI before applying. The rules for a project cannot be transferred to a stock-market purchase. The local capital market is fragmented. In 2023, three sustainable bonds were issued, two of them public, while no new share issuance was recorded; at the same time, there were four listed companies. Bonds and Treasury securities therefore generally have greater practical importance than shares. An order can remain open despite correct documentation if the market does not offer a counterparty. Costs include intermediary commissions, BVC, AGMVM, settlement, custody and registry fees, where applicable value-added tax (IVA), taxes, foreign-exchange margins and spreads. Request the complete fee schedule in writing before placing an order. Residents of Cabo Verde may acquire foreign securities through authorised foreign exchanges or brokers. Foreign-exchange and, where applicable, reporting obligations apply; foreign-currency, broker and regulatory risks also arise. The Cabo Verdean escudo is pegged to the euro at 1 EUR = 110.265 CVE, but other currencies may still fluctuate. ETFs, robo-advisory offerings and cryptoassets do not have a reliably demonstrated local direct equivalent and are therefore not assumed to be standardised local routes. Investment objectives may include interest income, dividends, capital appreciation, capital preservation or a planned transfer of assets. Diversification across issuers, maturities, islands, sectors and currencies may limit concentration risks. Nevertheless, default, interest-rate, price, liquidity, foreign-exchange, political and regulatory risks remain. Direct projects also involve permitting, infrastructure, location and natural-event risks. Before committing capital, therefore, examine the issuer or project sponsor, the prospectus or available project documents, the fees, the tax treatment and the provider's authorisation.