Cabo Verde Secures €17.71 Million Boost for E-Governance and Financial Reform Initiatives
Cabo Verde has received significant financial support aimed at enhancing its technological framework and improving public financial management. The African Development Bank Group (AfDB) recently approved a loan of €17.71 million to back the second phase of the nation’s E-Governance and Public Financial Management Reform Programme.
Cabo Verde’s E-Governance Initiatives
The funding, approved on Monday, builds upon previous assistance initiated in the prior year. This support is designed to harness technology as a catalyst for economic growth and to streamline administrative functions.
Objectives of the Financial Assistance
According to Abdoulaye Coulibaly, Director of the Governance and Economic Reforms Department at AfDB, the objectives of this initiative include:
- Stimulating economic growth through digitization.
- Enhancing private-sector competitiveness.
- Advancing e-governance reforms to modernize public administration.
- Consolidating public finances for greater efficiency.
Key Components of the Programme
The reform programme encompasses two major components:
- Digitization Reforms: This phase aims to strengthen the private sector. Initiatives include:
- Implementation of e-Justice to digitize judicial processes.
- Launching calls for proposals to attract private operators to the technology park under the ‘Digital Nomads Programme’.
- Modernization of Public Administration: This component will focus on:
- Improving the efficiency of public resource management.
- Developing an action plan to rationalize tax expenditures.
- Publishing annual tax expenditure estimates for the 2026 budget.
Accountability and Oversight
To enhance transparency, the AfDB will also support a Public Expenditure and Financial Accountability (PEFA) assessment. This assessment is scheduled for the first quarter of 2026 and will be funded through the Middle Income Countries Grant.
Beneficiaries of the Programme
The programme is set to benefit several key governmental agencies, including:
- Ministry of the Digital Economy
- Central Bank of Cabo Verde
- Institute for Gender Equality and Equity
- National Directorate of State Revenue
- Public Procurement Regulatory Authority
This financial injection marks a significant step toward modernizing Cabo Verde’s governance framework and enhancing its economic landscape through digital transformation.
