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US AMBASSADOR PIERCE INAUGURATES usadf ENTERPRISE DEVELOPMENT PROJECT in Maio, cape verde
United States African Development Foundation investment in Maio Women’s Salt Cooperative helps to build capacity and export earnings for island residents.
MAIO, CAPE VERDE - January 25, 2007
The United States Ambassador to Cape Verde, Roger D. Pierce, today formally inaugurated a USADF-funded enterprise development project that will increase incomes and improve living standards for 22 low-income women, generate foreign currency earnings and promote economic opportunities in Maio. The United States African Development Foundation (USADF) has invested US$87,000 in the Maio Women’s Salt Cooperative to help the 20-member association build capacity and increase production and export of table salt. This is Ambassador Pierce’s first visit to Maio since his appointment.
The Maio Women’s Salt Cooperative (CPSM by its local acronym) was officially founded in 1998, and its members have been extracting salt in the traditional manner for over 50 years. Not only does CPSM provide direct employment to its 20 members, the cooperative also purchases salt from 80 other individual women salt producers. Benvindo Rodrigues, who heads SIDEL Consulting, USADF’s partner in Cape Verde, commented on the impact of the USADF investment, “CPSM is the only facility on the island that buys and processes salt for export, thus providing an important source of income to islanders. USADF’s investment will create significant employment opportunities on an island where over 50% of the population live below the poverty line.” USADF funds will be used to modernize the extraction and processing of salt, adding value to this essential commodity and increasing CPSM’s potential to generate export earnings.
Ambassador Pierce praised the project, saying, “USADF investment in the Maio Women’s Salt Cooperative is an excellent example of the way the US government is helping to promote economic growth in Cape Verde. USADF is an important source of funding for small and medium-sized enterprises in Cape Verde, who often lack the capital and resources needed to fund their growth.”
The United States African Development Foundation (USADF) is a United States Government agency dedicated to expanding access to economic opportunity in Africa. Founded in 1980, USADF established field operations in Africa in 1984, and currently has active country programs in 16 countries. Over the past 20 years, USADF has funded over 1,600 projects in support of African entrepreneurs and local African communities. USADF established a country program in Cape Verde in 1986, and is currently the only government development agency assisting grassroots organizations on the island of Maio. At end-November 2006, USADF had investments in small and medium-sized enterprises in Cape Verde valued at US$2.1 million.