Cabo Verde

Republic of Cabo Verde

Portuguese Cape Verdean Escudo (CVE) Portuguese civil law
AU, ECOWAS, AfCFTA, CPLP, WTO
Cabo Verde is a small island nation in the Atlantic that has achieved remarkable development outcomes relative to its limited natural resources. The economy is driven by tourism (particularly from Europe), fisheries, remittances from a large diaspora, and services. The country graduated from Least Developed Country (LDC) status in 2007 and has one of Africa's lowest corruption levels (CPI rank 33). The International Business Centre targets financial services and tech companies. Challenges include water scarcity, limited arable land, small market size, and vulnerability to global tourism cycles. The escudo is pegged to the euro, reflecting close ties with Portugal and the EU.
Snapshot Focus Sectors Regulations & Taxes Businesses (3) People

Snapshot

Population~0.5 MWorld Bank WDI
GDP (current USD)$2.9 BIMF WEO
GDP per Capita$4,100IMF WEO
GDP Growth4.80%IMF WEO
Inflation (y/y)~1.80%Central Bank / IMF
Internet Use~69.00%World Bank WDI
Electrification~95.00%World Bank WDI
CPI Score (Rank)60.0/100 (#33)Transparency Intl
HDI (Rank)0.662 (#130)UNDP HDR

Focus Sectors

Tourism
Fisheries
Services
Renewable Energy
Maritime Services
ICT
Agriculture
Construction
Remittances

Regulations & Taxes

Corporate Income Tax22% standard (reduced rates for industrial/tourism)
VAT / Sales Tax15% standard

Business Directory (3)

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CA

Caixa Economica CV

Corporate

Banking Cabo Verde

PraiaCorporate
CV

CV Telecom

Corporate

Cabo Verde national telecom

PraiaCorporate
NO

Novo Banco Cabo Verde

Corporate

Banking Cabo Verde

PraiaCorporate

Tenders

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IslandPlas Project Innovation and Entrepreneurship Accelerator Support Partner - PACO

International Union for Conservation of Nature - PACO

Electronic Communications Infrastructure Registration Information System (SIC)

World Bank-financed: Digital Cabo Verde Project

Data Notes: Population, GDP, and GDP per capita are latest IMF WEO / World Bank estimates. Inflation is year-over-year. Trade data from UN Comtrade/OEC (2023). Tax rates from PwC/KPMG country guides. CPI from Transparency International. HDI from UNDP Human Development Report.
Narrative last updated: April 8, 2026.