The Macau Legend Development group plans to open a bank called the Banco Sino-Atlântico in Cape Verde’s Praia, the Lusa news agency reports.
Legend Globe Investment Co. Ltd will have six months to present a plan and its application to the Bank of Cape Verde, according to a statement from the Cape Verde delegate to the Macau Forum, Mário Vicente.
The deal was signed by the Cape Verdean Ambassador to China, Tânia Romualdo, and Legend Globe Investment president David Chow at the end of May, the Macauhub website reports.
The bank would extend Macau Legend’s investments in the African country, which includes the archipelago’s biggest tourism development, a US$275-million casino-resort.
The bank hopes to support small- and medium-sized enterprises, and to facilitate local and international payments.