Cabo Verde -Technology Park (CVTP) Phase II


Project Summary

Approval Date 02 Nov 2022
Planned Completion Date 30 Jun 2026
Last Disbursement Planned Date 30 Jun 2026
Sovereign / Non-Sovereign Sovereign
Sector Communications
DAC Sector Code 22020
Commitment U.A 11,068,331.13
Status Approved

Project General Description

The Republic of Cabo Verde has defined ambitious strategies to become a " Cyber Island",a"digital hub",and a "gateway to West Africa".For example, in the Cabo Verde Digital Agenda 2019-21, the Government displays strategies to develop a conducive digital and innovation ecosystem investing in connectivity, capacity building, service provisions and governance. Similarly, digitalization is central to Cabo Verde’s Strategic Plan for Sustainable Development 5 (PEDS) 2017-2021,which defines seven strategic sectors, including digital services and innovation, as sources of sustainable and diversified growth that would enable Cabo Verde to become a circular economy in the mid-Atlantic. More recently, the Cabo Verde Digital Governance Strategy (2021-2024) aims to harmonize public policies that define the country’s digital transformation. This Project is crucial for Cabo Verde to achieve its vision of a diversified digital economy as it positions ICT as an enabler of productivity and growth in key sectors (such as Agriculture, Blue Economy and Tourism).

Project Objectives

The overarching goal of the project is to transform the country into a digital and innovation hub by operationalizing a technology park, equipped with modern infrastructure and workspaces, with an innovative ambience. It is designed to accommodate a range of companies, from emerging start-ups to more established multinational technology companies(including telecoms, software development companies, animation firms etc.). The Park facilities house a state-of-the-art conference center and a training center that hosts 1,000 people. Climate friendly and energy-saving big-data processors and bandwidth-optimizing infrastructure are some of the features of the Park's three Data centers.

Beneficiaries

a. Youth between ages 15 to 35 (50% women):The direct beneficiaries of the Park will be young women and men with ages ranging from 15 to 35, of which 50% will be females. By providing demand-driven training and incubation programs, the project will increase the target youths’competitiveness and their chances of securing high-skilled work in Cabo Verde and through remote work. This directly addresses the youth unemployment problem in Cabo Verde, which is currently at 30.63%, compared to the sub-Saharan Africa average of 14.8% b. Technology Startups and Private Sector Firms: The Park will benefit a range of Technology companies, from early to growth stage. The project will provide a conducive business, technology and policy environment with the accompanying financing and business development services to nurture the growth of these startups in the Park. c. Academia and Research Institutions: Academia and research organizations will be utilized as satellite campuses to scale digital skills and technology research programs (through a triple helix model). It is also expected that a significant population of the beneficiary youth will be selected from academia.

Participating Organization

Funding
African Development Bank

Information

IATI identifier 46002-P-CV-GB0-004
Last Update 28 Jan 2023

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Contact Details

Name EDOSIO Uyoyo
Email u.edosio@afdb.org

Geographic Location

Country Cape Verde
Coordinates Location Name
14.9215 -23.5087 Praia