On this date in 1975 The Cape Verde Islands gained Independence after 500 years of Portuguese rule. In December 1974, the PAIGC( African Party for the Independence of Guinea and Cape Verde) and Portugal signed an agreement providing for a transitional government composed of Portuguese and Cape Verdeans. On June 30, 1975, Cape Verdeans elected a National Assembly, which received the instruments of Independence from Portugal on July 5. Cape Verde is composed of ten islands (of which nine are inhabited) and eight islets.