African Development Bank Group (AfDB)

The African Development Bank Group ( has approved $350,000 in grant funding for technical assistance to consolidate the country’s capital markets strategy and increase the liquidity of its fixed income markets.   

The grant will be sourced from the Capital Markets Development Trust Fund, a multi-donor fund administered by the African Development Bank.

The national stock exchange, Bolsa de Valores de Cabo Verde (BVC), will use the funds to develop a capital markets masterplan and upgrade current infrastructure to stimulate liquidity in secondary bond markets.

“We are delighted for the partnership with the BVC and the domestic capital markets ecosystem to support capital markets development in Cabo Verde,” said Ahmed Attout, Manager of the African Development Bank’s capital markets development division.

The program design emerged from a participatory process involving the BVC, the national ministry of Finance, the capital markets regulator, Auditoria Geral do Mercado de Valores Mobiliários and the country’s central bank, Banco de Cabo Verde.

Marcia Teixeira, BVC Executive Director said, “AfDB´s partnership, for which we are grateful, will help consolidate the capital markets as a means of excellence in project financing and resource mobilization.” It will help empower the capital markets to boost SDG implementation and its financing in Cabo Verde and West Africa, with impacts for regional and continental integration,”  she said.

Cabo Verde’s national stock exchange began operations in 1998 to provide an alternative source of investment and financing to the private sector. Since 2005, around $1.4 billion worth of securities have been issued on the bourse, which has a current market capitalization of around $962 million, equivalent to just over half of the country’s GDP.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Media contact:
Olufemi Terry
Communication and External Relations Department

Technical contact:
Albin Kakou
Principal Investment Officer
African Development Bank

About CMDTF:
The Capital Markets Development Trust Fund (CMDTF) is a multi-donor grant facility designed to develop robust African capital markets and support the Bank’s efforts to mobilize domestic resources to finance Africa’s development. Administered by the Bank, the CMDTF is supported by the Ministry of Finance of Luxembourg and the Ministry of Foreign Trade and Cooperation of the Netherlands.

Send us your press releases to

© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.