Cabo Verde sells less cigarettes but ‘old man’ SG Gigante still leads

Praia, Jul 17 (Inforpress) – Cigarette sales in Cabo Verde interrupted the growth of several consecutive years in 2019, falling 8.54%, to 117 million units, with SG Gigante leading, according to the Cabo Verdean Society of Tobacco (SCT).

According to the company 2019 report and accounts, to which Lusa had access today, the volume of cigarettes sold last year, in the archipelago, is lower than in 2015, keeping the business of selling cigars and cigarillos practically “Without expression”, with 17.995 units sold, a 25.76% drop compared to 2018.

Throughout 2019, the Cabo Verdean tobacco company, which has a monopoly on activity, sold “116.952 million” (almost 117 million cigarettes), which compares with the peak reached in 2018, of “127.865 million” (almost 128 million cigarettes).

Almost half of the tobacco sold in 2019 was of the Portuguese brand launched in the 50s SG Gigante (local Cabo Verdean production), with about 55 million cigarettes, according to the SCT report and accounts, a company established in 1997 and participated by a Grouping Companies (51.15%) and the Municipality of Sal (12.50%), with the remaining share capital dispersed on the stock exchange.

/ HVF

Inforpress / Lusa

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