[[[LIVE=]]>>>] Streaming: Cape Verde vs China Live 4 August 2023
It is paying for the construction of two dams, a most welcome project in view of Cape Verde’s severe water shortages. China is providing a fleet of vessels to connect Cape Verde’s eight dispersed and poorly linked islands; offering 100 scholarships for Cape Verdean students; and deploying an 8 member medical team on a regular basis to Praia hospital, the country’s main health facility. It has pledged to build a fisheries processing center and make substantial investments in the sector. In addition, China has cancelled Cape Verde’s bilateral debt.
To date, the Chinese “invaders” have generally been welcomed by the Cape Verde population. Cheap Chinese commodities, such as clothing, shoes, and domestic household items, cost considerably less than comparable goods coming from Portugal and the EU zone. The new arrivals have also benefited the housing market by renting property on an unprecedented scale to establish their businesses. The rent for a small shop in downtown Praia has now reached as high as $2, 000-$3, 000 a month, much to the joy of the local owners. However, there have been some complaints from local unions over low salaries and long working hours in Chinese-owned establishments, sometimes accused of paying only half the average national wage. A few strikes have taken place. Local business owners, meanwhile, have complained of unfair Chinese practices that are putting them out of business and killing off the already small indigenous business class.
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He has already invested in a casino on Caravela Island in Guinea Bissau and purchased a 60% stake in that country’s only viable bank, the Banco da Africa Ocidental (BAO). Now his attention is turning to Cape Verde, and investments in tourism and casinos are expected to follow shortly. It will be interesting to watch how he fares on Cape Verde, since the nearby Canary islands and to a lesser extent Madeira are well-known for their organized crime syndicates with links to powerful crime families of the Corsican and Sicilian mafias. Chinese have little experience in dealing with these unsavory actors, who will surely see the coming expansion of the Cape Verde casino sector as a tempting opportunity.
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