03/06/11 - Cape Verdean government prepares privatisation of two public companies

Cape Verde’s water and power distribution company Electra and the country’s flagship airline, TACV are to be privatised following restructuring, Cape Verde’s prime minister said in Praia.

Saying that the companies were the one that were, “the biggest headache for the government,” José Maria Neves, who was visiting pumping stations in the capital, said that, “Electra’s restructuring,” would allow the company to see, “a substantial improvement in management capacity.”

The prime minister also said that TACV would no longer be managed by the state in 2012 after it was restructured and conditions were created for it to be privatised.

As the privatisation of the two are considered to be “a need pointed out by Cape Verde’s partners,” which are essential to the State’s budgetary survival. Neves said that the government was carrying out “all the studies” needed and announced that in 2012, “we will have two restructured companies that are operating in a completely different way.” (macauhub)