VITIB SA (Grand-Bassam, Ivory Coast) and ABD GROUP (Philadelphia, USA), are pleased to announce to their customers and partners, the signing of an agreement on December 16, 2020, relating to the accreditation of ABD GROUP as the main Financial Institution of the Free zone of Biotechnology and Information and Communication Technologies (ZBTIC), Grand-Bassam, Côte d'Ivoire.
VITIB is a technological park with special economic zone status, which the company VITIB SA promotes and operates, through a concession agreement with the State of Côte d'Ivoire.
By this approval, ABD GROUP takes a serious option on the financing of technological company projects (ICT and Biotech), but above all, on the portfolio of real estate investment opportunities of the VITIB, while benefiting from the tax and customs incentives offered by Ivorian legislation. The two parties thus intend to accelerate the realization of the ambitious masterplan of VITIB, providing in the long term a Smart City comprising a production area (Warehouses), an administrative area (Offices), and a residential and commercial area.
Dr Philippe Pango, Managing Director of VITIB SA expressed his satisfaction in these words: “With this approval, VITIB is working on an acceleration of the urbanization of the technological park, this time with the confidence of the private sector, following structuring investments already made by the State of Côte d'Ivoire”.
For his part, Mr Mohamed Keita, Chairman of the ABD Group expressed his satisfaction as follows: « The ABD Group, whose core business remains the end-to-end completion of development projects in Africa, is happy to contribute to the realization of the park. technology of Grand-Bassam in Ivory Coast ».
About VITIB SA – www.vitib.ci - VITIB SA (Village of Information Technologies and Biotechnology), is a joint venture between the State of Côte d'Ivoire and national and international partners. Through a concession agreement involving delegation of public service, VITIB ensures the promotion and operation of the special technological economic zone of Grand-Bassam, a 624 hectare space dedicated to innovative technologies, in a smart city environment. The project, which has attracted 50 billion FCFA in investment over the past eight years, currently has 50 companies installed, more than 1,000 jobs created, and a pharmaceutical hub.
About ABD – www.africa-bd.com - ABD Group has a presence on the ground to serve as a partner in every major market in West, Central, East and Southern Africa. Its partnerships have resulted in over $2 billion USDs of capital invested. Partners include Fortune 500 companies and the world’s largest emerging market investors. Having partnered with companies and investors from the Americas, Europe, and Asia, ABD Group understands the various cultural aspects involved in creating successful business partnerships. At the same time ABD has become a trusted partner that African governments turn to when they want to attract investment and realize projects vital to the growth of their country. Additionally, ABD Group founded and owns operating companies in light industry, construction/maintenance, and multi-media. ABD Group prides itself on being able to recruit and maintain top talent on the continent as well as its ability to identify gaps, trends, and growth markets across the continent.