Cape Verde launches TechPark CV, a $49M innovation hub as they aim to top spot West Africa’s tech sector

Developments in the African continent continues to witness a huge growth in the Tech aspect.

Ethiopia has made a significant step towards their their Tech sector with the launch of TechPark.

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Reports indicates the project is valued at $49 million United States dollars and backed by the African Development Bank.

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The project currently spans two campuses in Praia and Mindelo, aiming to become West Africa’s top tech gateway linking Africa, Europe, and the Americas.

Currently, TechPark hosts 23 companies and can support up to 1,500 professionals, attracting global names like Intel, Microsoft, and Smart Africa.

TechPark CV focuses on emerging technologies like AI, blockchain, fintech, and IoT with fast internet, world-class facilities, and university partnerships.

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As a Special Economic Zone, it offers major incentives: 0% VAT, 0% import tax, and just 2.5% corporate tax for qualifying companies.

It’s a bold move for Cape Verde’s digital future, driving tech growth, jobs, and global investment.