Cabo Verde tourism boom stimulates aviation investment

According to TransVerde Airlines, the rapid growth in Cabo Verde’s tourist economy will be restricted without the introduction of a modernised airline service

Tourism to the state in West Africa has rebounded strongly since the pandemic, surpassing the record 2019 year by 23% in 2023 and reaching around one million visitors. This year, it appears the country is on course to achieve another record year with Cabo Verde passenger traffic increasing by 15.5% in July 2024 from July 2023.

While the reputation of the islands as a popular tourist destination continues to build, there are fears that this growth will be capped without an airline that is suitably equipped to meet the blossoming domestic and visitor demand.

Filling the transportation gap

To address this concern, TransVerde Airlines, a low-cost digitally-enabled airline start-up is exploring a US$15mn investment to revolutionise air travel across the islands of Caro Verde while extending its service to neighbouring countries.

“The passenger demand for Cabo Verde is a given. But growth is happening quickly and the islands need to be ready for change,” remarked Rui Lima, TransVerde Airlines founder and president. “Overtourism in other parts of the world is driving holidaymakers to new destinations, to discover the unknown, to find hidden gems and new experiences. Cabo Verde has a unique cultural heritage, serene beaches and climate which are very attractive.

“But we need to respond quickly – firstly, we need better transport infrastructure to get local people and employees around the islands to ensure a smooth transition of produce and workforce. The demand from travellers for local, community-sourced produce is high. There is no point in growing local food on one island if we cannot move it in good time to another – that will hamper the local economy and not allow our own resources to be utilised.

“We also need to get tourists moving around the islands. At the moment, the big operators send them in, they stay on one island and do not explore or fairly share their holiday spend. It’s not their fault, we don’t make it easy for them. But there is so much opportunity which we need to harness to better manage and distribute tourism’s value to the benefit of all local communities.”

The airline aims to offer passenger and cargo transport services with an initial focus on inter-island connectivity within the country. Specifically, the company has an initial goal to bridge the islands of Santiago, Sal, and São Vicente before expanding to include all of Cabo Verde and other West African countries.

Raul Zapico, project director, TransVerde Airlines, commented, “We’re in the process of securing our Air Operator Certificate (AOC) and excited to make the next step in connecting Cabo Verdeans with each other, seamlessly. With advise and support from Brookfield Aviation Finance, our next move is to secure funding to progress our inter-island travel strategy. With our fleet of three leased ATR-42/72 aircraft in the initial phase, we’re ready to take to the skies.”