Cape Verde’s Ministry of Finance published an update on an online presentation to young entrepreneurs and business owners on Sal of Banco Jovens e Mulheres (BJM), a digital platform combining access to credit with technical assistance, training and support in preparing financing dossiers. The programme is positioned as a way to widen access to finance across the country through digital channels and to remove the need for personal guarantors. BJM targets primarily young people and women, with eligibility criteria including no incidents with the national banking system and regularised tax and social security status. Project ownership is expected to be by young people aged 18 to 35, while women can apply regardless of age, and men over 35 are not excluded. Credit lines include Stimula Empreenda + (CVE 150,000 to CVE 500,000), Startup Jovem 100% (up to 3,000 contos), and financing for Women Entrepreneurs, Digital Transition and Scale-Up (up to 5,000 contos); Stimula Empreenda + has provided around 700 loans over the past two months. The process is fully digital from document submission through contract signing, with applicants lacking relevant training referred to IEFP courses, and credit guarantees structured without guarantors, shared between the ecosystem and the entrepreneur with purchased equipment also used as collateral.

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