ETE Group to invest in Cape Verde

The group has been serving Cape Verde for over 29 years through its shipowner Transinsular and aims to boost port, transport, logistics and shipbuilding development through the investment.

Speaking at the Cape Verde International Fair (FIC), Luís Mira de Oliveira, an ETE board member who is in charge of Cape Verde business, said: “During FIC we met with Government officials, where we reaffirmed our committement to invest in the country, giving our contribution to the recognition of Cape Verde as the Hub for West Africa.

“Therefore, we declared our availability to build joint solutions that may combine an integrated and structured vision of port operations, inter-island and regional maritime transport, together with logistics and shipbuilding.”

ETE is currently completing the establishment of port operations company ‘ETE Cabo Verde – Operações Portuárias, Lda’.

It plans to submit a proposal for the operational management of the ports of Praia, Mindelo, Palmeira and Sal Rei – whether in direct competition, as a consortium, or another model specified by the government of Cape Verde.

The group has recently established shipping company ‘Transinsular Cabo Verde – Transportes Marítimos Insulares de Cabo Verde, Lda’. It is currently the only shipping line meeting all requirements for cabotage and international maritime transportation in connection with nearby Atlantic markets, it said.

The group is also currently transferring its vessel Ponta do Sol to the new company.

Additionally, Transinsular has upgraded its ’África Expresso’ service which shortens Portugal/Cape Verde cargo transport journeys to five days.

By Rebecca Jeffrey