Cape Verde, with its strategic location in the Atlantic, political stability and a growing economic environment, presents itself as fertile ground for the development of innovative and sustainable businesses. Cape Verde's youth, dynamic and creative, is in a privileged position to exploit emerging opportunities in strategic sectors such as tourism, renewable energies, technology and the creative economy.
This report aims to guide young Cape Verdean entrepreneurs in identifying viable business models in line with the country's needs and potential. Through a detailed analysis, the most promising sectors will be highlighted, as well as the resources and programmes available to support the development of business ideas.
With government initiatives such as the Digital Cape Verde, which promotes digital entrepreneurship and innovation, and funding programmes such as the Business Development FundAs a result, young people have access to essential tools to turn ideas into concrete projects. In addition, the growing interest in sustainable practices and the commitment to sustainable tourism reinforce the need for businesses that combine innovation with environmental responsibility.
This article is intended to be a practical and educational guide, providing clear information on the types of business best suited to the Cape Verdean reality, the steps needed to start an enterprise and the resources available to support young people on their entrepreneurial journey.
Contents
Tourism is one of the pillars of the Cape Verdean economy and represents a significant opportunity for young entrepreneurs. Businesses focused on sustainable tourism and cultural experiences can stand out, especially by promoting environmentally friendly practices and valuing local culture.
With the government's commitment to reach 30% of renewable energy penetration by 2025, the renewable energy sector is a promising area for investment.
Sustainable agriculture is an area with high potential, especially given the growing demand for organic and local products. Young entrepreneurs can explore organic food production and the processing of agricultural products.
With digitalisation gaining momentum in Cape Verde, businesses in the technology sector present significant opportunities. Start-ups focused on digital solutions, e-commerce and IT services can thrive.
Cape Verde's vast Exclusive Economic Zone (EEZ) offers opportunities in the blue economy sector, including sustainable fishing, aquaculture and water sports.
Each of these sectors presents unique opportunities for young entrepreneurs in Cape Verde. The key to success lies in identifying specific niches, acquiring specialised knowledge and taking advantage of the support programmes available.
Government programmes in Cape Verde play an essential role in supporting youth entrepreneurship, offering financial and technical incentives. Among the main programmes available are Entrepreneurship and Innovation Support Programme (PAEI)The programme aims to reduce the risks associated with new businesses and foster innovation. This programme provides subsidies and credit guarantees for start-ups and small businesses.
In addition, the JovEmprego Cape Verde, an initiative in partnership with the United Nations and Luxembourg Co-operation, offers training and access to funding through the platform Financing Guide. This platform provides detailed information on the financing options available and is a valuable tool for young entrepreneurs looking to start or expand their businesses.
Interested parties can find out more about these programmes directly on the official website of the Government of Cape Verde or at your local Proempresa, the organisation responsible for implementing various initiatives to support entrepreneurship.
Venture capital and angel investment are alternative sources of finance that have been gaining prominence in Cape Verde. These forms of financing are particularly useful for innovative start-ups that need initial capital to develop their products or services.
Entrepreneurs can turn to local venture capital funds, such as the Development and Innovation FundIn addition, the Cape Verdean government has been supporting projects in strategic sectors, including technology and the digital economy. In addition, angel investors, often linked to the Cape Verdean diaspora, have shown an interest in supporting promising businesses in the country, contributing not only capital, but also knowledge and networks.
To exploit these opportunities, young entrepreneurs can contact organisations such as Leeward Chamber of Commerce or the Windward Chamber of CommerceThese often organise events and networking sessions to connect entrepreneurs with potential investors.
Microfinance is an affordable option for small businesses and entrepreneurs who face difficulties in obtaining traditional credit. Institutions such as Cape Verde Savings Bank offer financial products adapted to the needs of micro and small businesses. These include loans for purchasing equipment, transport materials and building facilities.
A Savings Bank allows you to finance up to 70% of the total amount of a project, with repayment periods adjusted to the specific characteristics of the business. More information on these options can be found on the official website of Cape Verde Savings Bank.
In addition, commercial banks such as BCV and BCA also offer specific credit lines for entrepreneurs, with conditions that vary according to the client's risk profile and type of business.
The Cape Verdean diaspora plays a crucial role in financing new businesses in the country. Through remittances and direct investments, the diaspora not only strengthens the local economy, but also promotes job creation and knowledge transfer.
O Cape Verdean Diaspora Investment Programme (PIDC) is an initiative that aims to attract investment from the diaspora by offering tax incentives and technical support. This programme is particularly relevant for entrepreneurs wishing to establish businesses in sectors such as sustainable tourism, the blue economy and agro-industry.
To access these opportunities, entrepreneurs can consult the platform Financing Guide or contact Proempresa, which acts as an intermediary between diaspora investors and local businesses.
Crowdfunding is an innovative solution for financing new businesses in Cape Verde, allowing entrepreneurs to raise funds directly from individuals interested in supporting their projects. International platforms such as Kickstarter and GoFundMe are widely used, but there are also local initiatives that are beginning to emerge, adapted to the Cape Verdean reality.
These platforms allow entrepreneurs to present their business ideas to a global audience, increasing the chances of obtaining funding. In addition, crowdfunding can be combined with other forms of financing, such as venture capital, to maximise the resources available.
Entrepreneurs interested in exploring this option should invest in creating well-structured campaigns with explanatory videos and clear financial objectives to attract potential investors. A Proempresa and Chamber of Commerce can provide additional guidance on how to use these platforms effectively.
Digital portals have played a crucial role in supporting youth entrepreneurship in Cape Verde, bringing together information and services in a single accessible space. O Kre+ Portallaunched by the Cape Verdean government, is a comprehensive platform that connects young entrepreneurs to training, employment and technical support opportunities. This portal functions as a "virtual room" where training institutions, financial entities and technical support centres interact directly with users, facilitating access to essential resources.
In addition, the portal provides information on funding programmes, such as the Start-Up Youth Programme, and tools for business planning. Through Kre+, it is possible to access online courses, workshops and networking events, promoting the development of skills and the creation of contact networks. This resource is particularly useful for young people looking to start businesses in emerging areas such as technology and the digital economy.
Business incubators and accelerators are strategic infrastructures in the Cape Verdean entrepreneurial ecosystem. These structures offer technical support, mentoring and logistical resources to startups in the early stages. One notable example is Pró Empresa Business Incubation Centre, which offers coworking spaces, specialised training and business consultancy.
Through public-private partnerships, the government has encouraged the creation of more incubators on different islands, promoting the decentralisation of support for entrepreneurship. These initiatives are fundamental for young entrepreneurs who need practical guidance and access to investor networks. Accelerators, in turn, help startups scale their businesses, providing access to international markets and funding opportunities.
Continuous training is essential for the success of young entrepreneurs. In Cape Verde, programmes such as JovEmprego Cape Verde offer technical courses and workshops focused on areas such as business management, digital marketing and innovation. This programme, developed in partnership with international organisations, aims to train young people to face the challenges of the market and take advantage of the opportunities available.
Another example is the Blue Economy Training Programme, which prepares entrepreneurs to exploit the potential of the country's vast Exclusive Economic Zone (EEZ). This programme includes modules on sustainable fishing, aquaculture and nautical tourism, in line with Cape Verde's strategic priorities in sustainable development.
Networking is a vital component of business growth. In Cape Verde, events such as Youth Investment and Financing Summit offer a platform for entrepreneurs to present their projects to investors and strategic partners. These summits include pitch sessions, panel discussions and networking opportunities, facilitating fundraising and knowledge exchange.
In addition, the Sotavento and Barlavento Chambers of Commerce regularly organise business meetings and themed workshops, promoting interaction between young entrepreneurs and key players in the economic ecosystem. These initiatives are especially useful for start-ups looking to expand their operations or enter new markets.
Technical support and personalised consultancy are indispensable resources for entrepreneurs in the early stages. Organisations such as Pró Empresa and the Directorate General for Employment (DGE) offer consultancy services that cover everything from drawing up business plans to marketing strategies and financial management. These services are often subsidised, making them accessible to young people with limited resources.
In addition, programmes such as Youth Start-Up include personalised support for innovative projects, ensuring that entrepreneurs receive adequate guidance at all stages of business development. This type of support is particularly relevant for start-ups operating in highly complex sectors, such as technology and renewable energies.
The study identified five strategic sectors with high potential for young entrepreneurs in Cape Verde: sustainable tourism, renewable energies, sustainable agriculture, technology and the blue economy. Each of these sectors presents specific opportunities that can be exploited through innovative businesses aligned with local needs. For example, sustainable tourism benefits from the valorisation of culture and the environment, while the digital economy and renewable energies reflect global trends in innovation and sustainability. Sustainable agriculture and the blue economy, meanwhile, stand out for their utilisation of natural resources and the growing demand for ecological practices.
To support young entrepreneurs, Cape Verde offers a wide range of resources, including government programmes such as the Entrepreneurship and Innovation Support Programme (PAEI)funding initiatives such as the Financing Guide and digital platforms such as Kre+ Portal. In addition, business incubators and accelerators, as well as networking events organised by the Chambers of CommerceThey offer technical support, mentoring and access to investors. These tools are essential for empowering young people, reducing the risks associated with investment and fostering sustainable growth.
The results of the study emphasise the importance of a strategic and informed approach to entrepreneurship in Cape Verde. Young people should identify specific niches, acquire specialised knowledge and take advantage of available support programmes to maximise their chances of success. Strengthening the entrepreneurial ecosystem, combined with favourable public policies, could boost innovation, create jobs and contribute to the country's sustainable economic development.
English (UK) 
Português (AO90) 
Français