New bank holds promise of more business between Macao, Cape Verde

Macau Legend Development Ltd. Chief Executive David Chow has said his new Sino-Atlantic Bank in Cape Verde will facilitate financial business between Macao and Cape Verde, Macao newspapers report.

The reports quote Mr. Chow as telling journalists on the sidelines of a celebration in Macao of Cape Verde Independence Day that the bank will foster direct trade between Macao and Cape Verde. “It will be easier in terms of funding,” he said.

Mr. Chow’s conglomerate is also building a casino-resort, called the Gamboa Djeu Resort, in the Cape Verdean city of Praia. Mr. Chow expects the first phase of the resort to be completed within 30 months, the reports say.

The resort will eventually have a casino, a marina and a convention centre.