News from Islands
Cape Verde Government is considering possible entry Enacol the share capital of Electra
Praia, Cape Verde, 8 June - The Cape Verde government is examining the entrance of the National Oil Company (Enacol) in the capital of the Company of Electricity and Water (Electra), said in Praia Minister of Tourism, Industry and Energy, Humberto Brito.
The idea comes a few days after the announcement of the expected entry of Angolans Banco Africano de Investimentos (BAI), the debt of 700 000 Cape Verdean escudos (6.4 million) will be converted into shares of the company's public production and supply of water and energy.
The Minister of Tourism, Industry and Energy of Cape Verde, which renewed its intention to re-privatized Electra, stressed that this should not happen in 2012 and this year, against the intention expressed by Prime Minister Jose Maria Neves earlier this year.
Electra's debt towards the Enacol amounted to 1.1 billion (10 million), taking an early source of this company to Portuguese news agency Lusa that there are negotiations since 2010 and that everything depends on an evaluation of the accounts of Electra which last year resulted in losses of over one million escudos (9.06 million) and that cumulatively, amount to some 10 billion escudos (90.6 million).
Source: macauhub
