Portuguese Cape Verde Algiers between the Portuguese government and the PAIGC, recognising the independence of Guinea-Bissau and the right to independence of Cape Verde. On 5 July 1975, at Praia, Portugal's Prime Minister Vasco Goncalves turned over power to National Assembly President Abilio Duarte, and Cape Verde became independent. Portuguese Cape Verde Cape Verde was a colony of the Portuguese Empire from the initial settlement of the Cape Verde Islands in 1462 until the independence of Cape Verde in 1975. The islands of Cape Verde were discovered between 1460 and 1462 by Portuguese and Genoese sailors in the service of the Portuguese Crown.
Cape Verde at every level of the economy, which has led it to link its currency first to the Portuguese escudo and, in 1999, to the euro. On 23 June 2008 Cape Verde became the 153rd member of the WTO. In early January 2018, the government announced that the minimum wage would be raised to 13,000 CVE (US$140 or EUR 130) per month, from 11,000 CVE, which was effective in mid-January 2018. The European Commission's total allocation for the period of 2008–2013 foreseen for Cape Verde to address "poverty reduction, in particular in rural and periurban areas where women are heading the