Cote d'Ivoire to establish 800 mln USD fund to support tech innovation

Alsharq Tribune-AFP 

Cote d'Ivoire plans to establish a 450 billion CFA francs (about 800 million U.S. dollars) fund to support startups and technological innovation in the country, Ivorian Minister of Digital Transition and Digitalization Ibrahim Kalil Konate announced on Thursday.

The fund will support initiatives launched under various national strategies and laws aimed at strengthening innovation, technology, the startup ecosystem, and achieving digital sovereignty in Cote d'Ivoire, Konate said at the official opening of the inaugural Ivoire Tech Forum 2025.

It will be financed with 100 billion CFA francs from the Ivorian government, while the remaining 350 billion CFA francs would be raised from private and institutional partners, the minister said.

Some private sector actors have agreed to contribute to the fund, which will be managed by a company with minority public financial participation, he added, noting that "a task force will be launched in the coming weeks, and the full amount will be mobilized within six months." (1 CFA franc = 0.001784 U.S. dollar).