The Cape Verdean government recently launched the Securities Guarantees Registration Portal (RGM), an innovative digital platform that aims to boost access to credit and foster the country's economic growth.
Managed by the public company Pró-Garantee, this initiative allows movable assets to be used as collateral for financing, simplifying the processes of registering, modifying, extinguishing and publicising collateral. The portal can be accessed at rgm.gov.cv.
The programme is especially relevant for micro, small and medium-sized enterprises (MSMEs), which account for more than 90% of Cape Verde's business fabric.
These companies, often limited by the lack of traditional guarantees, will now be able to benefit from a mechanism that facilitates access to essential financial resources for the acquisition of equipment and other productive factors. In addition, the platform also presents itself as an opportunity for young entrepreneurs and farmers, allowing them to use assets from their activity, such as plantations or equipment, as collateral to obtain credit.
Applying for the RGM is simple and accessible, and can be done directly through the online portal. This technological advance not only promotes financial inclusion, but also strengthens the competitiveness of local companies, contributing to the sustainable development of the Cape Verdean economy.
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The Registry of Movable Guarantees (RGM) is an innovative digital platform launched by the Cape Verdean government with the aim of facilitating access to credit for businesspeople and entrepreneurs in the country. This system allows economic operators to register and use their movable assets as collateral to obtain financing from banks and microcredit institutions. The initiative is part of the legal framework approved by the government to modernise and democratise Cape Verde's financial system, promoting greater economic inclusion. (Government of Cape Verde)
The RGM programme was designed to benefit, above all, micro, small and medium-sized enterprises (MSMEs), which account for around 90% of Cape Verde's business fabric. These companies often face difficulties in accessing credit due to the lack of consistent asset guarantees. In addition, the programme aims to support young entrepreneurs and other economic operators who need funding to boost their businesses. (Forbes Lusophone Africa)
One of RGM's main objectives is to universalise access to credit by eliminating traditional barriers imposed by financial institutions, such as the requirement for high net worth in order to grant loans. The platform allows movable assets such as equipment, vehicles or agricultural products to be used as valid collateral. (Government of Cape Verde)
The programme seeks to foster entrepreneurship by creating a "window of opportunity" for young and small businesspeople. By reducing financial barriers, the RGM contributes to the growth of new businesses and the economic diversification of the country. (Government of Cape Verde)
Another key objective is to strengthen Cape Verde's financial ecosystem. The RGM platform introduces a more transparent and accessible system, promoting trust between financial institutions and entrepreneurs. (Forbes Lusophone Africa)
The RGM also aims to integrate sectors traditionally excluded from the formal financial system. For example, farmers can register their crops as collateral in order to obtain financing to improve production. (Forbes Lusophone Africa)
The platform allows entrepreneurs to register their movable assets digitally, creating a guarantee certificate that can be presented to financial institutions. This process is managed by Pró-Garantee, the organisation responsible for coordinating the system. (Government of Cape Verde)
After registration, the guarantee certificate is issued by the platform, guaranteeing the legal validity of the asset as collateral. This certification facilitates acceptance by credit institutions, reducing bureaucracy and associated costs. (Government of Cape Verde)
With the certificate in hand, entrepreneurs can negotiate directly with banks and microcredit institutions, using the registered assets as collateral. This mechanism simplifies the process of obtaining financing and increases the likelihood of approval. (Forbes Lusophone Africa)
The RGM has the potential to boost economic growth by facilitating access to finance for a greater number of entrepreneurs. It is estimated that the initiative could directly benefit more than 80% of Cape Verde's business fabric. (Government of Cape Verde)
By enabling marginalised sectors such as agriculture and informal trade to access credit, the programme contributes to reducing financial exclusion and promoting a more inclusive economy. (Forbes Lusophone Africa)
The introduction of a digital system for registering movable collateral represents a significant technological advance, positioning Cape Verde as an example of financial innovation in the region. (Government of Cape Verde)
After the initial launch in the city of Praia, the platform was expanded to other regions, including Mindelo and the island of Fogo. This strategy aims to ensure that the programme reaches all areas of the country, promoting equitable implementation. (Government of Cape Verde)
The success of the RGM depends on effective partnerships between the government, financial institutions and regulatory bodies. These collaborations are essential to ensure the sustainability and effectiveness of the programme. (Forbes Lusophone Africa)
The RGM programme was designed to give priority to Micro and Small Enterprises (MSEs), which make up the majority of the business fabric in Cape Verde. These companies face significant barriers in accessing finance due to the absence of robust asset guarantees. The RGM allows these companies to use movable assets, such as equipment or vehicles, as collateral to obtain credit. This approach reduces the traditional requirements imposed by financial institutions and promotes the financial inclusion of small businesses. (Government of Cape Verde)
Another group benefiting from the programme are young entrepreneurs. These individuals, who often have innovative ideas but no access to start-up capital, find RGM an opportunity to finance their projects. The platform facilitates access to credit by allowing non-traditional assets to be registered as collateral, democratising financing for this segment. This measure is essential for fostering young entrepreneurship and stimulating the creation of new companies, contributing to the country's economic diversification. (Government of Cape Verde)
The programme also benefits farmers and rural producers, who often face exclusion from the formal financial system. The RGM allows them to register movable assets, such as crops or agricultural equipment, as collateral to obtain financing. This initiative aims to improve productive capacity in the agricultural sector, promoting modernisation and increased productivity. In addition, by facilitating access to credit, the programme contributes to reducing regional inequalities and strengthening local economies. (Forbes Lusophone Africa)
Women entrepreneurs are a priority group within the RGM. Historically, this segment has faced additional challenges in accessing credit due to gender inequalities and the lack of property in their name. The programme seeks to correct this disparity by allowing women to use movable assets as collateral for financing. This approach promotes gender equality in access to financial resources and strengthens the role of women in the Cape Verdean economy. (Government of Cape Verde)
Finally, the RGM aims to integrate informal and marginalised sectors into the formal financial system. Informal workers, such as artisans and small traders, can register their movable assets as collateral, allowing them to access credit to expand their activities. This inclusion is key to reducing financial exclusion and promoting sustainable economic growth in Cape Verde. In addition, the programme strengthens the economic resilience of these groups, providing them with greater stability and development opportunities. (Forbes Lusophone Africa)
In order to apply for the Registration of Security Guarantees (RGM) programme, certain basic requirements must be met. Access to the platform is available to any duly authenticated user. To this end, it is essential that applicants have access credentials, provided through the Autentika digital authentication system. This system guarantees the security and integrity of user data, in line with the best international information protection practices. (RGM FAQ)
In addition, applicants must submit documentation proving ownership of the movable assets they intend to register as collateral. These assets can include equipment, crops, vehicles or other movable assets that are accepted by the system. The documentation required varies according to the type of asset, but generally includes proof of purchase, official records or notarised statements. (RGM FAQ)
Registering securities on the RGM platform is a simple and accessible process designed to reduce bureaucracy and facilitate access to credit. The first step is to access the official RGM portal (rgm.gov.cv) and authenticate with the credentials provided. Once logged in, the user must select the option to register guarantees and fill in the available electronic forms.
The forms require detailed information about the movable property to be registered, including its description, estimated value and location. In addition, it is necessary to attach documents proving ownership and other specific requirements, such as pledge contracts or declarations of intention to pledge collateral. The platform offers video tutorials to help users through each step of the process, ensuring that even those with little digital experience can complete the registration with ease. (RGM FAQ)
Although the RGM programme aims to democratise access to credit, there are fees associated with registering movable guarantees. These fees are calculated based on the value of the registered movable asset and the complexity of the process. The costs include administrative fees and, in some cases, additional costs for issuing certificates or legal validations.
Users can consult the price list available on the RGM portal before starting the registration process. This level of transparency is key to ensuring that applicants understand the costs involved and can plan accordingly. (RGM FAQ)
After initial registration, the RGM system carries out an automatic validation to check that the data submitted is in order. In cases where further clarification is required, applicants can be contacted by the RGM technical team to provide additional information. Once validation is complete, the guarantee is officially certified and registered in the RGM public database.
Certification gives legal certainty to the process, allowing financial institutions to recognise registered assets as valid guarantees for granting credit. This process is essential to guarantee the effectiveness of the programme and promote trust between users and financial partners. (Government of Cape Verde)
The RGM programme offers continuous technical support for users, ensuring that any difficulties encountered during the application process can be resolved quickly. The portal provides a toll-free helpline (+238 800 2008) and a contact e-mail address (geral.progarante@progarante.cv) to answer questions or resolve technical problems. (RGM FAQ)
In addition, the platform includes an FAQ section and detailed tutorials to guide users through each step of the process. These resources are especially useful for micro and small entrepreneurs, who may not be familiar with the procedures for registering collateral. The combination of technical support and educational resources reinforces the programme's commitment to promoting financial inclusion and reducing barriers to accessing credit. (PT50 Newspaper)
The Mobile Collateral Registry (RGM) programme, launched by the Cape Verdean government, is a pioneering initiative to democratise access to credit and promote financial inclusion in the country. Through an innovative digital platform, the RGM allows entrepreneurs, farmers, young entrepreneurs and women to use movable property, such as equipment, vehicles or crops, as collateral to obtain financing. This system aims to eliminate traditional barriers to accessing credit, especially for Micro, Small and Medium-sized Enterprises (MSMEs), which make up the majority of Cape Verde's business fabric. In addition, the programme strengthens the national financial ecosystem, promoting transparency, trust and modernisation in the sector. (Government of Cape Verde)
The expected impacts of RGM include economic growth, reducing financial exclusion and stimulating entrepreneurship, with direct benefits for marginalised sectors such as agriculture and informal trade. The implementation of the programme, which includes ongoing technical support and educational resources, ensures that users can register their assets in an accessible and secure way. However, the success of RGM will depend on strategic partnerships between the government, financial and regulatory institutions, as well as the equitable expansion of the platform to all regions of the country. This innovative model positions Cape Verde as an example of financial modernisation in the region, with the potential to transform access to credit and foster sustainable development. (Forbes Lusophone Africa)
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