Cape Verde aims to become one of West Africa’s leading technology hubs with the TechPark CV project.
TechPark CV has been officially launched, and the African Development Bank (AfDB) played a critical role in the project by providing €45.59 million in funding.
This amount represents approximately 2% of Cape Verde’s GDP. With its vision of becoming the “Tech Islands of West Africa,” Cape Verde aims to be a strategic center for digital services and innovation that connects Europe, the Americas, and West Africa.
23 Companies Onboard – Space for 1,500 Innovators
TechPark CV currently hosts 23 companies and has the capacity to accommodate up to 1,500 workers.
The facility is designed to foster partnerships with academic institutions, create new employment opportunities, and support technological growth.
In doing so, it will directly contribute to the national economy. TechPark CV has two campuses located in Praia on Santiago Island and in Mindelo on São Vicente Island.
The opening ceremonies for these two centers took place yesterday and today.
Emerging Technologies Take Center Stage
The project encourages the development of emerging technologies such as artificial intelligence, blockchain, fintech, big data, and the Internet of Things (IoT).
These goals will be reinforced through strong government support. The government will provide incentives such as VAT and import tax exemptions, and corporate tax rates reduced to as low as 2.5%
As part of its regional strategy, TechPark CV will also collaborate with the Economic Community of West African States (ECOWAS).
A Vision Rooted in Morabeza
Carlos Monteiro, director of TechPark CV, made the following statement about the establishment of the center:
“TechPark CV is the realisation of our ambition to transform Cape Verde into a technology hub for West Africa.”
“Our unique mid-Atlantic location creates a gateway for investments and business opportunities linking Africa, Europe and the Americas.”
“The spirit of morabeza lies at the heart of what we’re building – a welcoming environment where innovators from different backgrounds and cultures can collaborate and thrive together.”
“Through this project, we’re not just building a digital hub; we’re fostering a community where technology drives economic growth and sustainable development for Cape Verde and our international partners.”