Côte d’Ivoire Announces New Tax Incentives to Attract Global Tech Firms

In a strategic move to bolster its technology sector, the government of Côte d’Ivoire has unveiled a series of new tax incentives aimed at attracting global technology companies. This announcement was made by the Minister of Digital Economy, Telecommunications, and Innovation, Romain Ehouo, during a press conference held in Abidjan.

The new policy framework is designed to enhance the country’s appeal as a competitive destination for tech investments. Key components of the initiative include a significant reduction in corporate tax rates for tech firms that establish operations in Côte d’Ivoire. Specifically, companies will benefit from a tax rate cut from 25% to 15% for the first ten years of operation. Additionally, startups in the tech sector will enjoy a complete exemption from corporate taxes for the first five years.

The government is also set to introduce measures that facilitate easier access to funding for tech startups. This includes the creation of a dedicated fund to support emerging companies in the tech ecosystem, which will be financed through both public and private sector contributions. Ehouo emphasized that these incentives are part of a broader strategy to foster innovation and technological advancement within the country.

Côte d’Ivoire’s decision to implement these tax incentives comes amid a growing recognition of the technology sector’s potential to drive economic growth and create jobs. The Ivorian government has identified the digital economy as a crucial area for development, with ambitions to transform the nation into a regional tech hub.

The announcement has been met with enthusiasm from local and international stakeholders. Tech leaders and investors have expressed optimism about the favorable business environment that the new incentives promise to create. Industry experts believe that Côte d’Ivoire’s proactive approach to attracting tech firms could position the country as a leader in Africa’s digital transformation.

The government plans to roll out a comprehensive campaign to promote these new incentives to potential investors globally. This campaign will include roadshows in major tech hubs around the world, highlighting Côte d’Ivoire’s readiness to embrace innovation and investment.

The measures are part of Côte d’Ivoire’s broader economic strategy, aimed at diversifying its economy and reducing dependence on traditional sectors such as agriculture.