On January 15, the signing ceremony for the Memoranda of Understanding (MoUs) under the Morabeza Innovation Project (MiP) took place, marking the start of the project’s financing component.

 

The initiative, supported by the African Development Bank, aims to drive digital transformation, promote innovation, and strengthen economic competitiveness in Cape Verde through financial instruments targeting entrepreneurship and micro, small, and medium-sized enterprises.

 

In this first phase, three financing instruments were formalized, for a total amount of €12 million: the Youth and Women’s Bank, with €1 million in financing, under an MoU with Pró-Empresa; the SALTO Fund, also with €1 million, formalized with Pró-Capital; and the Digital Innovation Fund, worth €10 million, also implemented by Pró-Capital, aimed at financing digital solutions and promoting technological innovation.

 

The ceremony was presided over by the Deputy Prime Minister and Minister of Finance, Olavo Correia, and attended by representatives of the Government, implementing entities, institutional partners, and the private sector. The Memoranda of Understanding were signed by UGPE, Pró-Empresa, and Pró-Capital.
With this formalization, the State of Cape Verde reinforces its commitment to financing innovation, youth and female entrepreneurship, and building a more inclusive and competitive economy.