VINCI Airports, a leading private airport operator, has successfully completed the financial agreement for the acquisition of seven airports in Cape Verde. This marks VINCI’s first venture into the African continent and represents a significant milestone in the company’s global expansion strategy.
The acquisition was made possible after fulfilling the conditions outlined in the concession contract, which was signed with the Cape Verdean government in July 2022. To secure the necessary financing for the project, VINCI Airports secured 60 million euros from three prominent development banks: the World Bank-IFC, Proparco (France), and DEG (Germany). The financing, which has a 20-year term, is certified under the Sustainability Linked Financing (SLF) framework, reinforcing VINCI’s commitment to sustainability and environmental responsibility.
As part of the SLF certification, VINCI Airports has set two key sustainability goals. The first goal focuses on a gradual reduction of carbon dioxide emissions, reflecting the company’s dedication to minimizing its environmental impact. The second goal involves obtaining the Airport Carbon Accreditation certification, which underscores VINCI’s commitment to adhering to international standards for carbon management at its airports. This landmark financing agreement not only signifies VINCI’s dedication to sustainable practices but also represents the first time that IFC, Proparco, and DEG have financed airports through an SLF.
“We are proud of the trust placed in us by the Government of Cape Verde, which has entrusted VINCI Airports with the responsibility of supporting the country’s tourism growth, while guaranteeing the environmental transformation of airports,” said Nicolas Notebaert, CEO of VINCI Concessions and President of VINCI Airports. “We warmly welcome our new colleagues to the network and are looking forward to getting down to business.”
With Cape Verde witnessing around 2.2 million passengers in 2022, accounting for approximately 80% of pre-pandemic levels, the archipelago holds tremendous potential for further development. With this acquisition, VINCI Airports is committed to opening new routes and promoting the unique attractions of the Cape Verdean archipelago to tourists. This includes highlighting the region’s natural beauty, sporting activities, and warm winter climate, which make it an ideal destination for travelers seeking an exotic and vibrant experience.
Furthermore, VINCI Airports is dedicated to implementing an environmental action plan that involves the development of renewable energy production at the airports.
Another crucial aspect of this acquisition is the integration of more than 300 Cape Verdean airport team workers highlighting the commitment to supporting its new workforce by providing continuous training programs, sharing operational practices, and promoting career growth opportunities for women in the aviation industry.
With the successful acquisition of the Cape Verdean airports, VINCI Airports now operates a total of 72 airports across 13 nations, further consolidating its position as the world’s leading private airport operator.