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Congo Creates Autonomous Agency For Digital Economy Ahead Of Passage Of Startup Act

April 18, 2022

During a recent meeting of its Council of Ministers, the Congolese government resolved to establish an agency for the development of the digital economy. The purpose is to transform it into a lever for government action on digital transformation in Congo, by translating the general direction for the growth of the digital economy into a public administrative establishment. The Congolese startup bill will be considered and adopted by Parliament.

Minister of Posts, Telecommunications, and the Digital Economy Léon Juste Ibombo stated that “the digital transformation of the economy, a cross-cutting objective, demands substantial investment, particularly in infrastructure, networks, equipment, content, and users.”

The Covid-19 epidemic has hastened global digital transformation. The Republic of Congo has not been left out of this change, and since 2019, the government has taken steps to kick-start the development of its digital economy. Among other things, the formation of an African Center for Artificial Intelligence Research (Caria) in February and the adoption of a regulatory framework for start-ups are expected to promote the country’s digital sector.

The new Congolese agency, which will be autonomous in terms of management, will be responsible for the impulse, animation, and support of digital projects, allowing for optimal organization and implementation of new technologies on the national level.

Agency digital economy Congo Agency digital economy Congo

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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. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh

Congo Startup Act Now One Step Away From Coming Into Effect

March 8, 2022

The government of the Republic of Congo is working on an unique legal framework for startups – the Startup Act. On March 2, the Council of Ministers adopted the associated law, which was then transmitted to Parliament. Léon Juste Ibombo, Minister of Posts, Telecommunications, and the Digital Economy, had presented it for consideration. The language of the law, once adopted by the deputies, will aid in the implementation of various administrative, financial, fiscal, and other measures aimed at promoting the growth of tech entrepreneurship in the central African country.

Léon Juste Ibombo, Minister of Posts, Telecommunications, and the Digital Economy

“The lack of a specific legal framework for players in the digital industry, the lack of appropriate funding, the difficulties in accessing public procurement, and the absence of an innovation strategy justifies the proposal of an environment conducive to the development of these young companies,” Léon Juste Ibombo said.

A “startup” label is included in the statute. It will only be given to fledgling businesses that meet certain criteria.

The government of Congo has decided to devote special attention to its start-up economy as a result of the high level of financial interest that this sector has already generated among African investors.

In 2021, African start-ups raised $5.2 billion in funding, up from $277 million in 2015, according to Partech Africa Report.

Covid-19 has increased the value of fintech, e-logistics, e-commerce, and e-health.

The Congolese government aims to allow local innovators to benefit from the rising commercial prospects as the continent’s digital transformation accelerates.

According to Partech’s “2021 AFRICA TECH VENTURE CAPITAL” report, Congolese startups raised $1 million in 2021 from investment funds and other venture capital firms.

Senegal, which has had a startup law in place since December 28, 2019, saw the amount of money raised by its startups reach $353 million in 2021. According to Partech, it was $6.50 million in 2016.

Congo will be able to further enrich itself with tech innovators and entrepreneurs capable of supporting it in its digital transformation with local solutions fitted to its reality, thanks to an ecosystem that encourages the establishment of startups. A thriving local industry that will spur the development of jobs for the country’s youth and increase its riches.

Congo Startup Act Congo Startup Act

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Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer