Cabo Verde is set to create a Special Economic Zone for Technology (ZEET), with a hub in Praia and an extension on São Vicente island.
“We intend to attract large technology companies to produce services in Cabo Verde and sell them to the rest of the world,” said deputy prime minister Olavo Correia. ZEET will include tax benefits and other facilities for investors.
“Above all, we want to create opportunities for Cabo Verdean talent who work in the information and communication technology sector to test solutions here, in the country’s technology centres,” said Correia, who is also responsible for finance and the digital economy.
“We are going to set up a technological hub in Praia, with an extension in São Vicente, which will grant Cabo Verde a significant place in the African sub-region in terms of creating conditions for talent.”
The new ZEET is associated with the technology park due to be set up in Cabo Verde by state-owned TechparkCV, which will involve building business and incubation centres and data centres and technological real estate projects.
The company’s main mission is to install and promote the development of the Cabo Verde Technology Park and “facilitate the creation and growth of innovative companies and offer other value-added services, in high-quality spaces and facilities.”
There will initially be two centres (Castelon Vale in Praia and Julion Vale in Mindelo), but the government is considering extending the project to other islands as well.
They are intended to accommodate technology-based companies that wish to take advantage of the ecosystem of the future Technology Park Arquipélago Digital.
This technology park involves the construction of businesses, incubation, training and certification centres, and data and technology centres.
The Technology Park of Cabo Verde is currently under construction in Praia, with completion scheduled for this year, through an investment of about 32 million euros financed by the African Development Bank (AfDB) and about 4 million euros from Cabo Verde state.