Cape Verde’s FDI averaged over $68M annually over 34 years, with a record $170M in 2008 and a recent 54% drop from 2023 to 2024

Key Takeaways

  • Cape Verde attracted no foreign direct investment during the early 1990s, signalling limited investor interest at the time.
  • FDI inflows skyrocketed from $130M in 2006 to an all-time high of $170M in 2008, before stabilising above $100M for most of the 2010s.
  • The country experienced large swings, ranging from a high of $150M (2014) to lows of $50M (2020).
  • Despite recovering to $130M in 2023, inflows dropped sharply to $60M in 2024, the weakest figure in over a decade.

Cape Verde’s foreign direct investment journey over the past three decades reflects both its growing international profile and persistent volatility. After recording no inflows in the early 1990s, the country gradually began attracting modest investments by the mid-1990s. A turning point came in the 2000s, when reforms and global interest boosted inflows to record highs, peaking at $170M in 2008.

Since then, Cape Verde has experienced alternating periods of strong investor confidence and sharp declines, with figures fluctuating between $50M and $150M throughout the 2010s. The most recent trend is concerning: while 2023 showed promise with $130M, the dramatic fall to just $60M in 2024 highlights ongoing challenges in sustaining consistent FDI momentum.

Source:

UNCTAD

Period:

1990 - 2024
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