The public bank reported a profit of 893 million euros for the first half of the year. In the press conference, CEO Paulo Macedo stated that the sale is contingent on a decision by the Banco de Cabo Verde.
“The Banco de Cabo Verde said it would respond shortly, so it doesn’t depend on us. We believe it will be soon,” he said.
In March 2024, CGD announced the sale of its majority stake (59.81% of BCA’s share capital) to Coris Holdings, based in Burkina Faso.
The sale, priced at 70.5 million euros, requires formal approvals under Cape Verdean law, particularly the opinion of the archipelago’s central bank.
In April, the BCV’s governor mentioned that the review process was “in its final stages” and a decision was expected “by mid-May,” highlighting that the BCV is adhering to legal timelines.
The decision has yet to be announced.
The sale is part of CGD’s strategy to restructure its international operations, while remaining present in Cape Verde through Banco Interatlântico.
Another matter discussed was the sale of the stake in Banco Caixa Geral – Brasil. Paulo Macedo noted interest has resurfaced.
“We’ve had renewed interest from entities, and we would like to resume the process, which involves several procedural issues before engaging with potential buyers,” he added.
In May 2021, the Portuguese government approved relaunching the bank’s sale after the initial divestment attempt failed.
In 2023, Paulo Macedo indicated that the Council of Ministers recommended cancelling the sale, and CGD was preparing to address the bank’s issues.
