On May 31st, Ivory Coast Minister of Communication and Digital Economy appeared before the National Assembly’s Commission on Research, Science, Technology, and Environment. The members of the Commission unanimously adopted the bill promoting digital startups, with all present members voting in favor. The parliamentary groups representing the nation, namely the Rhdp, Ppa-CI, and Pdci-Rda, expressed their agreement with the bill during the committee meeting at the Abidjan-Plateau chamber. They were convinced by the presentation given by the government commissioner.
The Minister of Communication and Digital Economy, Amadou Coulibaly, stated that this legislation aims to establish a specific incentive framework for the creation and promotion of digital startups in Côte d’Ivoire. It is part of a consultative and inclusive approach, intending to provide appropriate support to these startups. Coulibaly explained that the bill will foster innovation and enable digital startups to be more competitive in the international market, facilitating their fundraising efforts. He also noted that out of approximately a hundred startups in Côte d’Ivoire, only about fifteen are considered dynamic.
read also Ugandan Fintech Startup Zofi Cash Secures $1M in Funding to Revolutionize Earned-Wage Access
The bill includes provisions to boost the development of newly created or early-stage digital startups by establishing an appropriate legal framework for their registration and labeling. Labeled digital startups, meeting certain conditions, can benefit from incentives, exemptions, support, guarantees, and accompanying measures provided by the government for a period of up to five years. These measures aim to overcome obstacles and facilitate the growth of startups.
Additionally, the bill creates a specific framework for supporting and governing Ivorian digital startups, with the primary goal of accelerating socio-economic growth. It seeks to increase the number of digital startups in the entire digital economy sector and define support and assistance measures for labeled startups, enabling them to contribute to the national economy.
read also New Tax Blitz In Ghana: Betting and Lottery Hit with 10% Tariff and GH¢1 Per Trip Charge
Minister Coulibaly emphasized that this bill proposes means to accelerate the success of digital startups and their role in transforming the national economy. After the bill’s adoption, the President of the Commission on Research, Science, Technology, and Environment, Émile Guiriéoulou, congratulated Minister Coulibaly for the clarity of his explanations. He acknowledged the project’s potential to usher in a new era in Côte d’Ivoire’s digitalization policy.
Ivory Coast Startup Bill Ivory Coast Startup Bill
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard