Sales at Cape Verdean cement company, Cimentos de Cabo Verde (CCV) rose 28 per cent last year driven by increased activity in the archipelago’s construction market, which is expected to continue over the next few years.
According to information given to Macauhub by parent company Cimpor,, the Cape Verdean company sold 152,000t of cement last year and imported 153,000t, which represented two thirds of total Cape Verdean imports of the product.
Cimpor, which is also a market leader in Mozambique, increased its stake in CCV to 98.65 per cent at the end of last year with the acquisition of a 12 per cent stake owned by the Cape Verdean state.
The Portuguese cement company expects the Cape Verdean market to continue growing over the next few years, thanks to construction and public works projects currently being launched.
Cimpor particularly points to the construction of the international airports at Sao Vicente and Boa Vista, and the expansion of the ports of Praia, Sal and Sao Vicente.
Since the first quarter of this year, Cimpor, through its subsidiary Cimpship, has been carrying out sea transport of cement in bulk to the Cape Verdean capital, Praia, using a ship with a capacity for 11,500 tons of cement.
Last year the cement company posted a significant rise in sales in Mozambique, where it is the market leader and saw profits rise 13 percent to EUR6.8m.
Currently Cimpor owns a factory in Matola and two mills in Dondo and Nacala.