MENI AND FSD SIGN A MEMORANDUM OF UNDERSTANDING FOR THE IMPLEMENTATION OF INVESTMENTS IN THE DIGITAL AND INNOVATION
Sunday, July 3, 2022, the Ministry of Digital Economy and Innovation and the Fonds Souverain de Djibouti have signed a memorandum of understanding for implementing investments in Digital and Innovation.
The Minister Delegate in charge of the Digital Economy and Innovation, Ms. MARIAM HAMADOU ALI, signed last Sunday on the premises of the Ministry a memorandum of understanding with the Chief Executive Officer of the Fonds Souverain de Djibouti, Dr. Slim FERIANI.
This agreement ratifies the collaboration of the two institutions for implementing the Djibouti Smart Nation roadmap carried by the President of the Republic. As an engine of growth, digital technology is a national priority for Djibouti to meet the challenges of job creation and wealth creation and a lever to transform public services and make them accessible to all citizens in all regions of Djibouti.
This partnership strengthens the collaboration of the Ministry with all other public institutions, including the Ministry of Budget and the Ports Authority, working to create a digital ecosystem that promotes investment, entrepreneurship, and innovation.
This agreement will enhance this collaboration for developing an ecosystem for the digital economy, including supporting the Sovereign Fund in projects with high added value. It provides, among other things, the establishment of Crowdfunding, the mobilization of funds dedicated to startups, infrastructure, and the development of “data centers.”
As part of this concept, a FinTech project in the form of the first platform of “Crowdfunding” in Djibouti, will provide a suitable instrument for financing our young project holders. The Minister insisted on valorizing the submarine cables to attract the world leaders of digital infrastructures to make Djibouti the Datacenter of Africa and to offer a high-quality connectivity service at affordable prices for our citizens. These investments will create high-level skills jobs for our youth.
The Chief Executive Officer of the Fonds Souverain de Djibouti, Dr. Feriani, emphasized the importance of boosting the entrepreneurial ecosystem of Djibouti.
Through this partnership with the Ministry of Digital Economy and Innovation, the Sovereign Fund will fully play its role as a financial arm and investment of the State in these areas.
The President of the Republic, HE. Mr. ISMAEL OMAR GUELLEH insisted on the need to achieve concrete results and implement digital projects as part of the ” Vision 2035 ” and the National Development Plan ” Djibouti Inclusion Connectivity Institutions. ”
The Memorandum of Understanding was signed, and work started on the “Crowdfunding” project to be realized in the next 6 to 12 months. Crowdfunding aims to finance SMEs and startups operating in Djibouti and to mobilize national investors, Djiboutian diaspora investors, and international investors.