Cape Verde Unveils €45M Tech Hub to Drive Digital Growth

The Government of Cape Verde is officially inaugurating Tech Park Cape Verde (“TechPark CV”), a centre of excellence for tech companies, marking a milestone in the nation’s digital transformation journey.

Funded by a €45.59 million investment from the African Development Bank (AfDB), the investment represents nearly 2% of Cape Verde’s GDP and is a key component of the country’s strategy to diversify its economy. It reinforces Cape Verde’s ambition to become the “Tech Islands of West Africa” — a strategic hub for digital services and innovation connecting West Africa, Europe, and the Americas.

TechPark CV is expected to boost technological development across Cape Verde and the wider region. It currently hosts 23 companies and has the capacity to accommodate up to 1500  workers. With its modern infrastructure, the park is designed to support the growth of technology businesses, foster partnerships with academic institutions, and create employment opportunities for local talent – helping to develop Cape Verde’s workforce and strengthen the national economy.

There will be two TechPark CV campuses in the Cape Verdean archipelago, one in Praia on Santiago Island, and another on Mindelo on São Vicente Island. Two inauguration ceremonies are being held on both islands this week to mark the occasion:

• May 5th, 2025 – Praia Campus, Santiago Island
• May 6th, 2025 – Mindelo Campus, São Vicente Island

Today’s ceremony in Praia has attracted over 300 companies, including more than 100 international businesses and several prominent organisations such as Intel, Microsoft, and Smart Africa –– highlighting the international interest in Cape Verde’s technology sector.

The event convenes key figures from government, business, and technology to engage on the future of Africa’s digital transformation. Senior Cape Verdean officials, including Prime Minister H.E. Ulisses Correia e Silva, are among the national representatives present, reflecting the country’s strategic focus on digital development. They are joined by international leaders such as Dr. Akinwumi A. Adesina, President of the African Development Bank, emphasising the regional importance of the discussions.

A stand-out panel brings together senior figures from the global tech industry, including representatives from Intel, Microsoft and Smart Africa, as well as Elisabeth Moreno, former French Minister and technology executive. While diverse in background, the participants share a common focus on the intersection of technology, innovation and Africa’s evolving digital landscape.

The park includes modern, sustainable infrastructure such as coworking spaces, data centres, a training centre, business centres, and a conference centre — all supported by high-speed connectivity and international-standard digital services. Its strategic mid-Atlantic location bridges Africa, Europe, and the Americas, creating unique opportunities for international partnerships and investment in African startups.

A core focus of the project is to encourage the development of emerging technologies including artificial intelligence (AI), blockchain, fintech, big data, and the Internet of Things (IoT). These efforts are supported by strong government backing and competitive tax incentives. As a designated ZEET (Special Economic Zone for Technologies), the park offers benefits such as VAT and import tax exemptions, and a reduced corporation tax rate of 2.5% for qualifying businesses.

As part of its wider regional strategy, TechPark CV will also collaborate with the Economic Community of West African States (ECOWAS) to support innovation across West Africa. Its commitment to digital inclusion and sustainable development reflects Cape Verde’s morabeza — the national spirit of hospitality, warmth, and openness – which helps foster an inclusive and welcoming environment for innovation.

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.

– Carlos Monteiro, President, TechParkCV