Cape Verde Sovereign Fund is the common designation of the Fundo Soberano de Garantia do Investimento Privado (FSGIP), a public institution established in 2019 by the Government of Cape Verde with the objective of facilitating access to financing for private companies through the provision of guarantees in financial operations.
Headquartered in the city of Praia, the fund was initially endowed with capital of €100 million, with provision for future increases.
Unlike traditional sovereign wealth funds, the FSGIP operates primarily as a financial guarantee instrument, aiming to reduce the risks associated with business financing and facilitate access to capital markets.
History
The FSGIP was established through Law No. 65/IX/2019 of 14 August as part of public policies aimed at strengthening financing mechanisms and promoting private investment in Cape Verde.
In January 2021, the institution's first Board of Directors was appointed through Administrative Order No. 5/2021.
In February 2023, the Board was restructured through Administrative Order No. 7/2023.
In April 2025, a further restructuring took place through Administrative Order No. 9/2025, resulting in the appointment of João Carlos Tavares Fidalgo as Chairman of the Board of Directors.
The fund became operational in 2023.
Nature and operation
The FSGIP was conceived as an instrument to support economic financing, with a focus on providing guarantees for medium- and long-term financial operations.
Its activities focus on reducing risk for lenders and investors, allowing the mobilisation of capital for business projects across different sectors of the economy.
Structure
The governance structure of the fund includes:
Board of Directors Advisory Board Sole Auditor
The Board of Directors is responsible for the strategic and operational management of the institution.
Chairpersons
Name Term Adalgisa Barbosa Évora VazAdministrative Order No. 5/2021 2021–2023 Pedro Mendes de BarrosAdministrative Order No. 7/2023 2023–2025 João Carlos Tavares FidalgoAdministrative Order No. 9/2025 2025–present
Activities
The fund began operations in 2023, focusing on the provision of guarantees for business projects.
Among its publicly reported operations was participation in a bond issuance used to finance a hotel development project in Mindelo, on the island of São Vicente.
See also
Economy of Cape Verde Bank of Cape Verde
External links
References