Côte d’Ivoire, like several African countries, wants to set up a regulatory framework conducive to the development of innovative startups. The aim of this framework is to support local startups and spur the growth of the local tech ecosystem. 

On Tuesday, November 14, the Ivorian Senate unanimously approved a law on the promotion of digital startups. Defended by the Minister for Digital Transition and Digitization, Ibrahim Kalil Konaté, before the Research, Science, Technology, and Environment Commission, it aims to define an incentive-based legal and institutional framework for the creation and development of young technology companies in Côte d'Ivoire.

"We have noticed that startups face some challenges as their models haven't been structured around proven business models that demonstrate market viability. Our goal is to provide support, incubate these startups, and help them realize their full growth potential," said Ibrahim Kalil Konaté.

The new law is part of the Ivorian government's efforts to encourage the emergence of digital startups in the country. Between 2020 and 2022, more than 2,847 digital entrepreneurs were supported by the Ivorian government, to the tune of more than 577 million CFA Francs ($960,000). Earlier this year, the executive also launched "Start-up Boost Capital", a 1 billion CFA Franc fund established to finance local startups.

Upon the President of the Republic's promulgation, this law will further fortify these initiatives. It is poised to catalyze the development of startups in their early stages, providing a dedicated framework for the support and governance of these enterprises. The overarching goal is to strengthen the entrepreneurial ecosystem, thereby accelerating socio-economic growth.

Samira Njoya