The Cape Verde insurance market: privatization plan in progress

Cape Verdean government announced in early December the sale of its minority stakes detained in the insurance company Garantia Seguros to the company’s staff members.

The State, which owns 4 821 shares, is hoping to generate approximately 331 000 USD from this move. It initiated in1998 an exit strategy from the capital of the companies in which it held minor shares.
This initiative is behind the establishment of the committee of privatization and of the Cape Verde Stock Exchange.