Entrepreneurship in Cape Verde has emerged as one of the main drivers of the country's economic and social development.
With a strategic location in the Atlantic, between Europe, Africa and the Americas, Cape Verde offers a favourable environment for innovative and emerging businesses.
With this article S&D Consultancy analyses the trends and opportunities in Cape Verde's entrepreneurship sector for the year 2025, with a focus on emerging sectors, innovation and success stories.
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Cape Verde is an archipelago with a growing economy, driven mainly by tourism, services and remittances from the diaspora.
Political stability and improved infrastructure have contributed to a more favourable business environment. However, challenges such as import dependency and vulnerability to external shocks still persist (World Bank).
Digitalisation is a growing trend in Cape Verde, with the government implementing various initiatives to promote digital inclusion and the technological innovation.
Technology start-ups are springing up, taking advantage of growing connectivity and the adoption of mobile technologies.
The digitalisation of public and private services is opening up new opportunities for entrepreneurs in areas such as fintech, e-commerce and digital services (ITU).
Tourism continues to be one of the pillars of the Cape Verdean economy.
However, there is a growing movement towards sustainable tourism, which seeks to minimise environmental impact and promote community development.
Entrepreneurs are exploring niches such as ecotourism, cultural tourism and authentic experiences, which attract conscious tourists willing to pay for unique experiences (UNWTO).
With a significant dependence on imported fossil fuels, Cape Verde is investing in renewable energies such as solar and wind.
This sector offers opportunities for entrepreneurs who can provide innovative and sustainable solutions for energy production and distribution. The government has ambitious targets to increase the share of renewable energies in the country's energy matrix (IRENA).
Agriculture in Cape Verde faces challenges due to the arid climate and water scarcity.
However, there are opportunities for entrepreneurs who can introduce sustainable farming techniques, such as precision agriculture and hydroponics.
These practices not only increase productivity but also contribute to the country's food security (FAO).
Cape Verde's rich culture offers fertile ground for the creative industry, including music, art, fashion and gastronomy.
Entrepreneurs are capitalising on the country's cultural heritage to create unique products and services that have both local and international appeal.
The promotion of Cape Verdean culture through festivals and cultural events is also gaining traction (UNESCO).
With a young and growing population, there is a significant demand for education and vocational training in Cape Verde.
Entrepreneurs in the education sector can explore opportunities in online education, vocational training and exchange programmes that prepare young people for the globalised job market (UNICEF).
Despite the opportunities, entrepreneurs in Cape Verde face challenges such as limited access to finance, bureaucracy and a small domestic market.
To overcome these challenges, we recommend
Entrepreneurship in Cape Verde is on an upward trajectory, with various trends and opportunities emerging in 2025.
Sectors such as technology, sustainable tourism and renewable energies offer significant potential for innovation and growth.
However, in order to maximise these opportunities, it is crucial to address existing challenges and create a more favourable business environment.
With the right strategies, Cape Verde can position itself as a hub for innovation and entrepreneurship in the region.
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