Commercial bank Banco Interatlêntico will open its first branch on the island of Santiago outside the city of Praia, in a year in which it is commemorating the 10th anniversary of its presence in Cape Verde. With branches in areas concentrating business development activities – such as in the capital city and the islands of São Vicente, Sal and Boa Vista – the bank is now opening its eighth branch in a region “with great economic potential,” according to the president of the institution’s Administrative Council, Fernando Marques Pereira.
The administrator explains that between 2002 and 2008, Assomada saw 57% growth in terms of the number of businesses present there, growth equivalent to that of the national average, and the third-highest business growth rate in Cape Verde, after Praia and São Vicente.
Pereira believes that Assomada continues to grow in the entrepreneurial level, and the bank will invest in three fundamental areas: treasury, mid- and long-term financing, and business support programs.
According to Pereira, the Cape Verdean government has also been an important partner in the creation of new products, such as mutual guarantees, aimed at supporting businesses.
Cidade da Praia
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