The Emerging Africa & Asia Infrastructure Fund (EAAIF) has announced €40mn of sustainability-linked financing package to support the further upgrade and expansion of Cape Verde’s national airport network
The investment will fund development across seven airports, strengthening connectivity and airport environmental objectives and boost tourism to the country.
Specifically, it will support Phase 1B of a 40-year concession awarded in 2023 to Cape Verde Airports, operated by Vinci Concessions, to fund critical capacity upgrades, runway extensions, terminal expansions across four international and three domestic airports.
The programme is designed to accommodate sustained growth in passenger traffic while improving service quality and safety, in a country where air connectivity underpins economic development and tourism.
Sustainability measures include on-site solar PV and battery storage, energy-efficient terminal upgrades, water recycling, drainage and wastewater treatment, and commitments to reduce airport emissions by 30% by 2030, with a pathway consistent with Vinci Concessions objective to net zero by 2050.
Thanzi Ramukosi, investment specialist at Ninety One, the fund manager of EAAIF, said the investment in Cape Verde Airports reflects a commitment to financing essential transport infrastructure while limiting greenhouse gas emission increases.
“The sustainability-linked facility advances a programme that improves air connectivity and resilience in a Small Island Developing State, where aviation is fundamental to economic activity and tourism.”
Since the financial close of Phase 1A in 2023, traffic across Cape Verde’s airport network has recovered ahead of expectations, exceeding pre-pandemic levels, supported by new routes and additional airlines.
International traffic now accounts for approximately 80% of total passenger volumes, providing a resilient euro-denominated revenue base and underpinning the project’s robust financial profile.
On 13 January, 2026 Vinci Concessions announced the completion of the first phase of works, worth €80 million, to modernise and decarbonise airport operations.
It also announced record traffic growth with a 60% increase between 2022 and 2025, driven by 35 new air routes and initiatives to enhance connectivity.
The EAAIF funding contributes to a €142mn next phase over the coming three years for additional improvements.
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