| New business bank in Cape Verde | ||||
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| Cape Verde, 07/10/2004 - Beginning Thursday, October 7, Cape Verde will have a new bank, the Banco Cabo-verdiano de Negócios (the Cape Verdean Business Bank, or BCN). The bank is the result of the purchase of Banco Totta de Cabo Verde by a group of Cape Verdean business executives residing abroad. The acquisition of Totta de Cabo Verde by a group of Cape Verdean entrepreneurs will be made official this afternoon in Praia. The ceremony, to be presided over by Prime Minister José Maria Neves, marks the birth of a new financial institution, the BCN, a project of the Society of Investment Studies and Promotion (SEPI). The BCN emerges as an alternative for companies regarding the financing of projects, deposits, savings, transfers and service payments, among other things. , The BCN is the first bank whose capital is held entirely by Cape Verdeans residing abroad, a fact that is generating expectations regarding prospects for the countrys economic development. |