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Sunday, 9 October 2016

Global Government Deals - A Complex Matter

Cape Verde signed the Contonou Agreement - what is the Contonou Agreement?

The Cotonou Agreement is a treaty between the European Union and the African, Caribbean and Pacific Group of States ("ACP countries"). It was signed in June 2000 in Cotonou, Benin's largest city, by 78 ACP countries (Cuba did not sign) and the then fifteen Member States of the European Union.  

People who invested in Cape Verde should be therefore backed up by the EU now that the investment has gone horribly wrong.  But is this the case?  No.  Numerous emails and letters have been sent to MEP's and EU officials and of course the Cape Verdean Government, but all have been ignored.  So it seems, that these deals seem to allow more power at the top, but do not in fact protect the people at the bottom.

When people invested in Cape Verde, it was very professionally marketed both at exhibitions in London, on ITV's A Place in the Sun and Estate Agents.  It was the next hotspot for overseas investment opportunities.  I personally invested due to the ITV's A Place in the Sun because up until that point I was very dubious as to whether investing in an African country would be a safe option.  It was funded and speculation has pointed to Hilary Clinton who was shaking hands with the Cape Verdean Government officials at the time (July 2009) - again letters have been written to her for clarification, but again with no reply.  We were promised it was going to be a 5* complex and a Hilton Hotel was also going to be erected as part of the complex.  Hundred's of people have lost all of their money and many more are now trapped in an ongoing nightmare.  The complex I personally invested in still has no working swimming pool, so even if I had fully purchased it, I would not be receiving rental income due to the lack of working facilities.  People thought not only were they making an investment to either have an ongoing income from rent or a property that was promised to double their money if they sold, but they also believed they were investing in a developing country in need of support which would bring tourism and business to the local people.  

Cape Verde do not seem to understand that not only are they illegally renting out our properties and the UK travel agents who are now promoting them for holidays are illegally marketing them, but social media sites including this one are receiving hits from all over the world.  The negative impact on Cape Verde's future is really damaging.  Why do people from all over the world pay millions to invest in the UK.  Because it is a safe investment.  They will get returns on their money and they will have a future - it also builds a sustainable economy.  Investing in Cape Verde is proving that you will lose you money and it will ruin your future.  People who read the many blogs and negative press about investing in Cape Verde will be put off.  They are damaging their own countries future by illegally cancelling contracts and refusing to put the situation right.

It is also very strange that the man who was once in charge of the finances for Tecnicil is now a prominent leader in the government of Cape Verde, so it makes it very difficult for British people to hold them to account when the corruption is widely spread and even if you take the issue to the top you will in no doubt hit another brick wall.

All people want is an end to this nightmare and Justice.  No one wants to cause any negativity, but it seems that the only way these days to get anywhere is by Spreading the Word so no other person, pensioners in particular who are now being targeted in the UK will have to go through the same unjust treatment.  After trying to negotiate and come to an arrangement of mutual benefit, Tecnicil have refused to play ball even though many people have tried to negotiate on terms to make it easy for them.  It seems like they targeted us for our money and have no care as to the consequences on the people who have lost out or the people of Cape Verde who would also have benefitted.  




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