Foreign exchange boost for Cape Verde

Cape Verde has seen an increase in the number of Britons using foreign exchange services.

Located off Africa's west coast, the republic is drawing emigrants thanks to its warm climate and falling house prices, according to Cape Verde Property.

Adrian Lillywhite, managing director of the company, explained that the country's Sal island was seeing an influx of emigrants to the area.

Britons are increasingly making foreign exchanges transactions in the region as the expat community grows.

"We've just reached 100 Brits living in Sal and there are probably only about 150 Brits living in the whole of Cape Verde," commented Mr Lillywhite.

"Sal at the moment has emerged as the first small expat community."

Mr Lillywhite added that the growth of developments in the country will provide a financial boost to the area as more people use foreign exchange services.

Ocean Village recently recorded a rise in people wanting to transfer money and savings to Gibraltar following the Budget.

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By Linsey Summers.