Telecom

Cabo Verde Telecom to merge with subsidiaries on Jan 1, 2023

Cabo Verde Telecom to merge with subsidiaries on Jan 1, 2023
Thursday, 15 December 2022 18:52

In April 2021, the Cabo Verdean government renewed incumbent operator Cabo Verde Telecom’s concession, giving it more operating power. The operator then embarked on a reorganization process to move into new segments as the traditional business segment was declining. 

Cabo Verdean incumbent operator Cabo Verde Telecom (CVTelecom) will merge with its subsidiaries CVMóvel and CVMultimedia on January 1, 2023. This will allow it to market fixed and mobile telecom services as well as on-demand Internet and TV services to bring more value to its clients and shareholders.

The merger plan was announced by board chairman João Domingos de Barros Correia in a letter sent to his partners on Tuesday 13 December.

The merger project was first disclosed, in September 2021,  in the company's 2020 financial report. It is part of a reorganization process that began after the Cabo Verdean government approved by decree (in April 2021) the changes to its electronic communications public service concession contract, allowing the operator to reorganize its operations as needed. 

"The merger of the CVTelecom Group of companies will allow the technological convergence of infrastructure, information systems and market offerings. This process will result in additional gains such as reduced time-to-market and improved competitiveness of the company and the sector, which are key and decisive factors for boosting the digital economy and the internationalization of companies," said João Domingos de Barros Correia.

The project will improve service quality and client experience. For the state-owned telecom company, this should ensure operational growth that will lead to higher financial revenues. According to the 2021 financial report, CVTelecom recorded a 36.5% growth in revenue in 2020 to Esc284 million (US$2.7 million). In the same year, the operator's sales increased by 7.9%.

Isaac K. Kassouwi

On the same topic
Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Nigeria. This marks a major step in its global expansion...
Monthly mobile data traffic per smartphone in Sub-Saharan Africa will rise to 14 GB by 2030. Total mobile data traffic is expected to grow from 2.3...
Reducing spectrum fees lowers the cost barriers for telecom operators to expand and improve services, particularly in underserved or rural areas. This...
• Mauritania launches e-commerce plan with GIZ to boost digital trade.• Connectivity lags due to high costs and weak rural coverage.• Cash, poor...
Most Read
01

• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...

Israel-Iran conflict raises new threats for global shipping and oil trade
02

Kenya tops African entries in 2025 IMD ranking at 56th globally. Botswana, Ghana, South Afric...

Six African Countries Rank Among Top Economies in 2025
03

In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...

In Five Years, Francophone Africa Will be A Major Force in African Tech –Régis Bamba
04

• Google unveils Veo 3, its latest AI tool for ultra-realistic video generation• Experts warn deepfa...

Deepfake Threat Becomes Alarming in Africa as AI Advances Faster Than Laws
05

Mauritius is the most peaceful country in Africa for the 18th year in a row Sub-Saharan Afric...

Global Peace Index 2025: Mauritius Leads Africa, Again
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.