In January 2023, Cabo Verde Telecom (CVTelecom) will merge with its subsidiaries, CVMóvel and CVMultimedia, to offer fixed and mobile telecom services, as well as on-demand Internet and TV services, to better enhance the value it offers to clients and shareholders.
The merger project was first disclosed in September 2021. It is part of a reorganization process that began after the Cabo Verdean government approved by decree the changes to its electronic communications public service concession contract, allowing the operator to reorganize its operations as needed.
"The merger of the CVTelecom Group of companies will allow the technological convergence of infrastructure, information systems and market offerings. This process will result in additional gains such as reduced time-to-market and improved competitiveness of the company and the sector, which are key and decisive factors for boosting the digital economy and the internationalization of companies," said João Domingos de Barros Correia.
The project will improve service quality and client experience. For the state-owned telecom company, this should ensure operational growth that will lead to higher financial revenues. According to the 2021 financial report, CVTelecom recorded a 36.5% growth in revenue in 2020, to Esc284 million (US$2.7 million), and in the same year, the operator's sales increased by 7.9%.