Formally launched in Cape Verde, a key regional technology center meant to encourage digital transformation and innovation throughout the island country and West Africa, is a TechPack CV. Backed by €45. With a 59 million ($51. 7 million) investment from the African Development Bank (AfDB), the project marks a strategic turning point in the nation’s aim to be a leading tech center in the area.
Situated on two Praia and Mindelo campuses, the park provides contemporary facilities including coworking spaces, training grounds, data centers, and a business and conference center.
Offering appealing tax advantages as a Special Economic Zone for Technologies (ZEET), TechPark CV has VAT exemptions, reduced import taxes, and a low 2. 5% corporate tax rate.
The park, already home to 23 businesses, can house up to 1,500 people and has plans to become a hub for creativity, education, and entrepreneurship. Emphasizing economic diversification, digital expansion, and worldwide competitiveness, Cape Verde’s 2030 digital economy plan focuses on these issues. The investment, which emphasizes the government’s great dedication to the digital industry, accounts for almost 2% of the GDP of the country.
TechPark CV also promotes local talent by means of partnerships with colleges and tries to create employment possibilities for Cape Verdean youngsters, thereby helping national human capital development. It aims to build strong impact industries including artificial intelligence, blockchain, fintech, big data, and the Internet of Things (IoT).
Cape Verde sees the park as a regional platform for digital innovation and cooperation with ECOWAS.
The project goes beyond infrastructure; it is a community that uses technology to drive sustainable development and worldwide connection, as Carlos Monteiro, President of TechPark CV, noted.
