Cabo Verde is an island country with a population of half a million. According to ABiQ’s business intelligence, the population will grow by 11% over a period of 10 years and reach 600,000.
The country had a GDP of $2 billion or almost $3,600 per capita. The economy is driven by tourism mainly. Foreign aid and remittances also contribute to the economy. The government plans to diversify the economy and are working towards developing the private sector to attract foreign investment.
Power and Water
Cabo Verde aims to generate 100% of its electricity from renewable sources by 2025. At the moment, almost all the population has access to electricity which is generated from mixed resources. We expect the country to require 5 megawatts of electricity generating capacity by 2030 to maintain the current access rate.
Despite having an arid climate, 90% of the population has access to potable water. Climate change and an increasing population continue to put pressure on the existing resources. We expect the country will need 4.5 million cubic metres of potable water per annum by 2030 to support the growing population.
The retail sector is set to grow in the coming years as the population increase. We expect demand for an additional retail space of 10,000 square metres over the next decade.
The country has made healthcare a priority and as a result, more than 80% of the population has access to basic healthcare. The existing infrastructure and healthcare facilities will be able to support the country until 2030.
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|Population in 2020||0.5 million|
|Population by 2030||0.6 million|
|Population growth from 2020 to 2030||11 %|
|GDP 2019 (est)||$ 2 bn|
|Electricity Capacity required by 2030||5 MW|
|Additional Potable Water required per annum by 2030||4.5 million m3|
|Additional retail by 2030||10,000 m2|
|New Hospitals required by 2030||0|