Cabo Verde's Digital Transformation in full expansion with African Development Bank Support
Technology Park positioned to make Cabo Verde a global digital hub with world-class facilities
AfDB President honored with Cabo Verde's highest public service award for a decade of transformative leadership
Cabo Verde marked a significant milestone in its digital transformation journey on Monday, 5 May, with the official inauguration of TechPark CV (https://apo-opa.co/4iSRdLU), a strategic infrastructure project backed by the African Development Bank Group (www.AfDB.org).
The island nation's Prime Minister Ulisses Correia e Silva and African Development Bank Group head Dr. Akinwumi Adesina, led the inauguration of the facility at a ceremony attended by hundreds of government officials, international partners, entrepreneurs, and academia. The celebration, held at TechPark CV's main campus in Praia, continued in Mindelo on Tuesday.
The EUR 51.85 million project, developed in two phases with EUR 45.5 million in African Development Bank financing, has rapidly evolved from concept to a thriving technology center since operations began in November 2023. Within just 18 months, the park now hosts 23 companies from 7 countries, employs 311 young professionals, and has reached full occupancy of its 52 office spaces.
Prime Minister Correia e Silva emphasized the park's world-class facilities: "The tech park is a good environment to connect startups and more mature companies. I have visited many tech parks around the world, and this one is not behind any of them. In fact, it is one of the best. With 311 professionals employed here across 23 companies serving international markets, and state-of-the-art infrastructure, this speaks directly to our vision of turning Cabo Verde into a Digital Island for the globe."
He outlined two main objectives – the first, to position Cabo Verde as a digital hub for Africa and the rest of the world, exporting quality digital services, and the second, to create quality jobs and attract diaspora talents. He highlighted the fact of Cabo Verde's strong diaspora, which cannot be ignored, and the government's role in leveraging its skills to build and reinforce capabilities at the Tech Park.
The Prime Minister added, "We also know that the state is an important economic agent. We can either facilitate or complicate it. So, we choose to facilitate, not complicate it. We would like to build a very solid foundation to sustain this digital ecosystem, reinforcing education and strengthening our informal economy with digital commerce and skills because we know that Digital is transversal."
Dr. Adesina, who led a delegation from the African Development Bank Group to the event, highlighted the strategic importance of the technology park.
"This is a great day for Cabo Verde, to celebrate the success of your vision to transform the country into a 'Cyber Island,' a digital hub, a digital gateway to West Africa -- an important digital hub to attract tech businesses from around the world. The future is very bright for innovative young entrepreneurs in Africa. This is driven by the rapid expansion of the digital economy, which will add $180 billion to Africa's GDP by 2025 and $712 billion by 2050," he said.
"You had doubters, with some questioning the rationale of a small country like Cabo Verde having a technology park. Some even said this was going to be a white elephant project. But you were undaunted. You stayed true to your vision. Well, time has proven you right! The white elephant is running, full steam,' he added.
The TechPark CV includes fully equipped facilities such as a Data Centre, Disaster Recovery Site, Business Center, Incubation Center, Civic Event Center, and Training and Qualification Center across its Praia and Mindelo campuses. Operating as a special economic zone, it offers tax exemptions on technology imports and income tax to attract companies.
The park has expanded its training programs from 6 in 2023 to 50 in the first quarter of 2025, upskilling 2,769 people in cutting-edge fields such as Artificial Intelligence, cybersecurity, and software development. Since opening, the park's operational revenue has grown by more than 4,300%.
The African Development Bank is the largest development partner in ICT in Cabo Verde through the Praia Technology Park, for which it has provided $57 million for Phases 1 and 2 project.
The Bank's investment in Cabo Verde's Technology Park aligns with its Digital Transformation Action Plan, focusing on scaling inclusive digital infrastructure, investing in digital entrepreneurship and skills, and driving sectoral adoption of digitalization.
During the ceremony Adesina was awarded Cabo Verde's highest public service medal in recognition of his decade of transformative leadership at the African Development Bank and his unwavering support for Cabo Verde's development initiatives.
The three-day program will include panel discussions on digital transformation, workshops on emerging technologies, and a startup pitch competition, showcasing Cabo Verde's pioneering role in Africa's digital landscape.
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Images :
https://apo-opa.co/3SoGjm5
https://apo-opa.co/3SrbywM
Contact:
Natalie Nkembuh
Communication and External Relations Department
media@afdb.org
About the African Development Bank Group:
The African Development Bank Group is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org
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