On 6 May 2024, the Minister of the Sea, Abraão Vicente, visited Cabnave Estaleiros Navais de Cabo Verde, S.A. to find out about the company’s ongoing projects, in particular the shipyard improvements resulting from the investment guarantee approved by the government.

It should be remembered that the Cape Verdean government recently approved a loan guarantee for investments totalling 65,000 escudos, for improvements to guarantee the operational capacity of Cabnave’s shipyards. The investment is aimed at acquiring new equipment, improving docking operations and repairing ships.

Despite improving the company’s operating conditions, these interventions are not enough for the complete restoration of Cabnave, since the company has not received any work for 30 years, the Minister for the Sea recognised after the visit, recalling that the complete refurbishment will be carried out through investment from the European Investment Bank, which is currently in the study phase.

“Cabnave may be one of the most profitable companies in Cape Verde, but we need to make fundamental investments. This is the government’s commitment,” said the Minister for the Sea, Abraão Vicente.