Following years of political turmoil, Côte d’Ivoire is growing quickly and attracting new investors. Now, the government is trying to position the country as west Africa’s technology and start-up hub. In July the government, in partnership with the African Development Bank (AfDB), announced the creation of the Ivorian Innovation Fund (FII). The $223m project will be devoted to infrastructure and finance support for start-up businesses, particularly in the technology sector.
The government plans to use the fund to develop business partnerships and training opportunities among the member countries of the West African Economic and Monetary Union (UEMOA).
The money will go into addressing the problems facing technology start-ups in Abidjan, Côte d’Ivoire’s capital, including the lack of technical skills and financing. Additionally it could be positive for west African regional integration, prompting the bloc to pull together to develop technological capabilities.
Article taken from: AfricanBusinessCentral