Cabo Verde has marked a significant step in its digital transformation journey with the inauguration of the Mindelo Technology Park. This event completes the second campus of the TechPark CV project, an initiative that has received funding from the African Development Bank. The newly unveiled facility is intended to help establish the island nation as a digital hub, strategically connecting Africa with global markets.
Project Completion and Funding
The inauguration ceremony for the Mindelo Technology Park took place on May 6. The event was attended by representatives from the government, various industry sectors, and development partners who have supported the project. The overall TechPark CV project, encompassing both the Praia and Mindelo campuses, represents a total investment of EUR 51.85 million. The African Development Bank Group has been a key financial supporter, providing EUR 45.5 million in financing for the project. The completion of the Mindelo campus signifies the realization of the project’s physical infrastructure aimed at fostering technological development.
African Development Bank’s Perspective
Dr. Akinwumi A. Adesina, President of the African Development Bank Group, emphasized the significance of the Mindelo Tech Park inauguration as a milestone for both Cabo Verde and the broader African continent. He was quoted as stating, “These two events mark a turning point for the broader diversification of the economy of Cabo Verde and a landmark in its quest to become the digital gateway for Africa. These two technology park campuses will spark the spirit of digital innovation and spur the emergence of technology-enabled businesses that will propel the digital economy of Cabo Verde.” His comments highlight the project’s potential to serve as a catalyst for digital innovation and the growth of technology-enabled businesses, positioning Cabo Verde as a digital gateway for the African continent.
Reflecting on the financial projections and potential economic impact of the digital economy, Dr. Adesina added a global perspective. He was quoted as stating, “The Technology Park will allow Cabo Verde to position itself to take advantage of the digital economy in Africa, which is estimated to add $180 billion to the GDP of Africa by 2025 and $712 billion by 2050. It will also allow Cabo Verde to benefit from the $16.5 trillion global digital economy by 2028.” His remarks underscore the substantial economic opportunities in the digital sector that Cabo Verde aims to leverage through facilities like the new technology park.
TechPark CV President’s Outlook
Carlos Monteiro, President of TechPark CV, shared his outlook on the project’s cultural and economic significance. He was quoted as stating, “TechPark CV is the realization 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.” This highlights the strategic geographic position of Cabo Verde.
Monteiro also spoke about the cultural aspect, adding, “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.” His comments emphasize the creation of a welcoming community for innovators and the project’s aim to foster economic growth and sustainable development through technology and collaboration.
Architectural Features
Fernando Mauricio Dos Santos, the project architect, provided details on the design of the Mindelo campus, noting its balance between technological needs and environmental considerations. He was quoted as stating, “The campus features a secure, basement-level data center that ensures national security while harmonizing with the surrounding residential area.
The U-shaped building’s orientation provides protection against northeast winds while maximizing southern light exposure, creating a comfortable and energy-efficient environment. A specialized technical box discreetly houses heavy refrigeration equipment, allowing the facility to blend advanced technology capabilities with Mindelo’s existing urban landscape.” This description highlights specific architectural choices made for security, environmental adaptation, and integration with the urban environment.
Facility Details and Zone Status
The Mindelo facility includes key components designed to support digital businesses and innovation. These include a data center, a business incubation hub to support new ventures, and a training center for skills development. The campus currently hosts ten companies, representing four different countries. It employs 125 young professionals. The facility reports 80% occupancy of its 25 office spaces. The Mindelo Technology Park operates as a special digital economic zone, offering tax incentives specifically to businesses specializing in fields such as artificial intelligence, cybersecurity, fintech, and digital health solutions, aiming to attract investment and growth in these sectors.
Encouragement for Entrepreneurs
In his closing remarks, Dr. Akinwumi A. Adesina offered words of encouragement to the entrepreneurs and businesses establishing themselves at the technology park. He was quoted as stating, “You will make it! You will grow! You will thrive!! Just like out of Mindelo the young voice of Cesaria Evora grew until it took the world by storm, so will the Mindelo Technology Park rise to become a gateway for innovation that will resound across Africa and the world. So, keep moving on and moving up!” His words draw an inspiring parallel to the globally renowned singer Cesaria Evora, also from Mindelo, expressing confidence in the park’s potential to achieve similar global recognition for innovation.
