Cape Verde’s economy is showing remarkable recovery in 2025. According to recently released data, unemployment has dropped to a historic low, while economic growth is exceeding expectations.
Lowest unemployment since independence
In 2024, the unemployment rate reached 8%, representing a decline of 2.3 percentage points compared to the previous year. The number of unemployed fell by more than 20%, from 21,853 to 17,373 people. This drop is a result of increased employment, which rose by 4.4% to 198,914 people. A significant share of this growth is attributed to women, whose participation in the labour market has increased substantially.
Source: africa-press.net
GDP growth exceeds expectations
On 10 June 2025, the World Bank revised Cape Verde’s GDP growth forecast for 2025 to 5.9%. This upward revision is supported by improved efficiency in the public sector and targeted efforts to attract private investment. Cape Verde now leads among Portuguese-speaking African countries and ranks among the fastest-growing economies in Sub-Saharan Africa.
Opportunities for Czech companies and their partners
These positive trends are creating a favourable environment for foreign investment. Czech companies can benefit from opportunities in information technology, renewable energy, infrastructure, and tourism. Cape Verde offers a stable macroeconomic environment and a growing market, making it an attractive and safe destination for business activities.
Sources:
Africa-Press
World Bank
