Cabo Verde’s Digital Transformation in Full Expansion with African Development Bank Support
On 5 May, Cabo Verde achieved a pivotal moment in its digital transformation when TechPark CV was officially inaugurated. This strategic infrastructure project is backed by the African Development Bank Group and marks a significant advancement in the island nation’s journey toward becoming a leading digital hub.
Prime Minister Ulisses Correia e Silva, alongside Dr. Akinwumi Adesina, head of the African Development Bank Group, led the inauguration ceremony. The event, which attracted hundreds of government officials, international partners, entrepreneurs, and academic representatives, was held at TechPark CV’s main campus in Praia and continued in Mindelo the next day.
The project represents a EUR 51.85 million investment developed in two phases, with EUR 45.5 million financed by the African Development Bank. Since its operations kicked off in November 2023, TechPark CV has transformed from concept to a bustling technology center. In a mere 18 months, the park now accommodates 23 companies from seven countries and provides employment for 311 young professionals. It has achieved full occupancy with 52 office spaces taken.
Prime Minister Correia e Silva expressed pride in the park’s world-class facilities, stating, “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 emphasized the dual objectives of positioning Cabo Verde as a digital hub for Africa and the global market and creating high-quality jobs while attracting diaspora talents. He highlighted the vital role of Cabo Verde’s strong diaspora and the government’s commitment to leveraging their skills to enhance the capabilities of the Tech Park.
Moreover, the Prime Minister noted, “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, during his remarks, highlighted the strategic significance of the technology park, emphasizing its importance as a foundation for future growth. “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 remarked.
The TechPark CV is equipped with state-of-the-art facilities, including a Data Centre, Disaster Recovery Site, Business Center, Incubation Center, Civic Event Center, and Training and Qualification Center, spread across its Praia and Mindelo campuses. It functions as a special economic zone, offering tax exemptions on technology imports and income tax to entice companies to invest.
The park has notably expanded its training initiatives from six programs in 2023 to fifty in the first quarter of 2025, upskilling 2,769 individuals in cutting-edge areas such as Artificial Intelligence, cybersecurity, and software development. The park’s operational revenue has experienced an impressive growth of more than 4,300% since its opening.
The African Development Bank stands as the most significant development partner in ICT for Cabo Verde, providing substantial funding for the Praia Technology Park phases. Its commitment to Cabo Verde aligns with its Digital Transformation Action Plan, aimed at enhancing inclusive digital infrastructure, investing in digital entrepreneurship and skills, and advancing sectoral digitalization.
Dr. Adesina was honored during the ceremony with Cabo Verde’s highest public service medal for his decade of transformative leadership at the African Development Bank and his unwavering support for Cabo Verde’s development initiatives.
This inauguration is part of a three-day program featuring panel discussions on digital transformation, workshops on emerging technologies, and a startup pitch competition, underlining Cabo Verde’s pioneering role in Africa’s digital landscape.
