Cabo Verde Inaugurates Mindelo Technology Park to Boost Digital Economy

Cabo Verde has unveiled the Mindelo Technology Park, marking the completion of the second campus in the ambitious TechPark CV project. This project is a key component in the country’s drive to establish itself as a major digital hub, connecting Africa with global markets. The new facility, officially inaugurated on May 6, is located in Mindelo, São Vicente, and was funded in part by the African Development Bank (AfDB). It aims to accelerate Cabo Verde's economic diversification, fostering a dynamic and thriving digital ecosystem.

The inauguration ceremony, which took place with key government officials, industry representatives, and development partners, was a momentous occasion. The EUR 51.85 million TechPark CV project was largely financed by a EUR 45.5 million contribution from the African Development Bank, with funds supporting both the Mindelo and Praia campuses. The project represents a significant step in the country's ambition to expand its digital economy and position itself as a leading player on the African continent.

Prime Minister’s Vision for a Digital Economy

During the ceremony, Prime Minister José Ulisses Correia e Silva emphasized the importance of the technology park in transforming Cabo Verde’s economy. He remarked that the inauguration marked a pivotal moment, likening it to the country’s previous milestones in infrastructure development. “We are inaugurating this technological park hub with the conviction that this is a special moment for Cabo Verde,” he stated. “The digital economy is one of the key sectors that will drive our future growth. We aim to raise the digital economy’s contribution to our GDP from around 7% to 25% in the coming years.”

The Prime Minister also noted that the project would create high-quality jobs, stimulate entrepreneurship, and nurture the talents of young people. He stressed that the development of the digital sector is crucial for diversifying Cabo Verde’s economy, offering both local and international opportunities for growth.

African Development Bank’s Role and Impact

Dr. Akinwumi A. Adesina, President of the African Development Bank Group, attended the ceremony and delivered a powerful message about the broader economic implications of the project. He emphasized the significance of the two technology park campuses as a stepping stone in Cabo Verde’s efforts to become Africa's digital gateway. He stated, “These two events mark a turning point for Cabo Verde’s economic diversification. They will spark the spirit of innovation and help drive the emergence of technology-enabled businesses.”

Dr. Adesina also highlighted the enormous potential of the digital economy, citing projections that Africa’s digital economy could add $180 billion to its GDP by 2025 and $712 billion by 2050. He added that Cabo Verde stands to benefit from the global digital economy, expected to reach a value of $16.5 trillion by 2028.

TechPark CV’s Role in Transforming Cabo Verde’s Economy

Carlos Monteiro, President of TechPark CV, underscored the strategic importance of the park in linking Cabo Verde with key global markets. He expressed the project’s significance in positioning Cabo Verde as a tech hub for West Africa, leveraging the country’s mid-Atlantic location to create business opportunities with Europe and the Americas. “TechPark CV is the realization of our vision to transform Cape Verde into a leading technology hub,” said Monteiro. “The project is not just about technology; it’s about creating a thriving community where innovators from all over the world can collaborate.”

Monteiro also referenced the cultural significance of the project, noting that the spirit of “morabeza” – a Creole word that signifies a welcoming and hospitable attitude – is embedded in the TechPark CV initiative. The park aims to foster a supportive environment for entrepreneurs, ensuring that the digital economy contributes to both economic growth and sustainable development for the country.

Mindelo Technology Park: A Cutting-Edge Facility

The Mindelo Technology Park is designed with a focus on both technological needs and environmental sustainability. Project architect Fernando Mauricio Dos Santos, who designed the facility, explained that the structure includes a secure basement-level data center, which ensures national data security while blending harmoniously with the surrounding residential area. The design also focuses on energy efficiency, with the U-shaped building maximizing natural light exposure and minimizing energy consumption.

The facility includes a state-of-the-art data center, a business incubation hub, and a training center, all designed to promote digital entrepreneurship. Currently, ten companies from four countries are based at the Mindelo campus, with 125 young professionals employed. Approximately 80% of the 25 available office spaces are already occupied. The facility offers tax incentives to businesses operating in areas such as artificial intelligence, cybersecurity, fintech, and digital health, making it a highly attractive option for tech startups.

Mindelo TechPark Event: Collaboration with Global Companies

The Mindelo campus has already begun hosting events designed to encourage innovation and collaboration. On May 6, 2025, the park was the venue for a showcase event featuring cutting-edge startups. Innovators from across Africa were given the opportunity to collaborate with global firms such as Intel, creating a dynamic environment for knowledge exchange and fostering business partnerships.

Looking to the Future: The Role of Entrepreneurs and Startups

In his closing remarks, Dr. Adesina offered encouraging words to the entrepreneurs and startups that are already making their mark at the Mindelo Technology Park. He praised their potential, drawing a parallel to the success of Cape Verdean artist Cesaria Evora, whose voice resonated across the globe. “Just like Cesaria Evora’s voice rose from Mindelo to take the world by storm, so too will the Mindelo Technology Park rise as a beacon of innovation,” he said. “You will grow! You will thrive!”

Both the Mindelo and Praia campuses of TechPark CV are now operational, marking the beginning of a new era for Cabo Verde’s digital economy. With the support of the African Development Bank and a growing network of entrepreneurs and global partners, Cabo Verde is poised to become a regional leader in technology and innovation.

The inauguration of the Mindelo Technology Park is a significant milestone for Cabo Verde, representing the country’s commitment to embracing the digital economy as a driving force for economic growth. By fostering innovation, collaboration, and entrepreneurship, the park is positioning Cabo Verde as a key player in the global digital landscape. As the country continues to build on its strategic location and robust infrastructure, the Mindelo and Praia campuses of TechPark CV are set to play a central role in shaping Cabo Verde’s future as a tech-driven economy.