(Agence Ecofin) – The rise in fuel prices weighs on the operating costs of fishing companies in Cape Verde, in a sector that occupies an important place in the country’s exports. To limit this pressure on national shipowners, the authorities have set up a temporary mechanism to reduce the price of diesel for fishing vessels.
On Tuesday, November 3, the Cape Verdean government signed a cooperation and financing protocol with the energy companies Vivo Energy Cabo Verde and Enacol to apply a temporary 10% reduction on the price of special diesel fuel for semi-industrial and industrial fishing vessels.
Provided for by Resolution No. 113/2026 of the Council of Ministers of Monday, October 19, this measure, which is in force for a period of three months, is financed up to 5.07 million escudos by the Autonomous Fisheries Fund (APH), local media reported. It concerns duly identified national shipowners and should make it possible to « reduce the operational costs of national shipowners and contribute to the sustainability of fishing activity », according to the press release of the Ministry of Agriculture.
A response to rising production costs
The measure comes after a sharp increase in the price of fuel used by professionals. According to data from the Multisectoral Regulation Agency for the Economy (ARME), the liter of marine diesel went from 78.20 Cape Verdean escudos in February 2026 to 153.30 escudos in October, an increase of about 96% in ten months. The rate was then reduced to 149.40 escudos in November.
The issue is also commercial. In 2024, Cape Verde’s exports of marine resources reached 8,795 tons, worth 6.41 billion escudos ($65.2 million), according to data from the Ministry of the Sea. Fishing also accounted for about 81% of the country’s commodity exports that year, according to the World Bank.
Through this partnership with energy operators, the authorities intend to strengthen cooperation between public institutions and the private sector in order to promote « the development and competitiveness of the fishing sector in Cape Verde ».
