University Institute of Wood Technology Mbalmayo: Institution gets 70 million FCFA SMEs ministry support for business incubation projects.

The support, which includes setting up, funding and supervision of incubation activities at IUT-Bois, was as a result of a partnership agreement between MINPMEESA and the University Institute.

Signed in Yaounde on July 17, the agreement is in compliance with Decree No. 2020/0301/PM of 22 January 2020, setting terms and conditions to fulfil missions of small and medium-sized enterprise incubation structures.

It was signed by SMEs Minister, Achille Bassilekin III, and the Rector of the University of Yaounde I, Rémy Magloire Dieudonné Etoua.

The agreement provides that MINPMEESA will issue IUT-Bois a grant of 70 million FCFA for the current academic year, as well as ensure that training modules and support systems comply with current standards. 

It also lays down the specific terms and conditions under which MINPMEESA will provide its assistance. 

During the signing, the Rector of the University of Yaounde I, Prof Magloire Etoua, commended MINPMEESA for its commitment to the Head of State’s vision of having student entrepreneurs. 

He assured Minister Bassilekin III that the university will ensure that students are supervised in accordance with the validated training modules and support systems.

Prof Magloire Etoua said the University of Yaounde I, under whose supervision IUT-Bois Mbalmayo is placed, will collaborate with MINPMEESA in the development of its incubation activities, making sure they are structured in compliance with regulatory requirements and technical specifications. 

He furthered that the University will ensure that its teaching programmes in the field of entrepreneurship are consistent with the National Entrepreneurship Strategy implemented by the Government. 

The Rector added that his institution will, at regular intervals, present MINPMEESA with an account of how the support granted is being used.

For his part, Minister Bassilekin III highlighted that the partnership is a part of his ministry’s dynamic collaboration with State Universities to promote entrepreneurship and incubation policies. He revealed that the agreement will be gradually consolidated in the months ahead.

Minister Bassilekin III added that it is for this reason that the ministry has, for the 2023-2024 academic year, allocated 214 million FCFA to the incubation centres of the University Institute of Wood Technology in Mbalmayo and the National Higher Polytechnic Institute, NAHPI, of the University of Buea, as well as the Higher Technical Teachers’ Training College, ENSET, of the University of Ebolowa.

All these, he said, fall in line with the government’s determination, to enhance the employability of young people by putting in place an ecosystem conducive for the emergence of competitive entrepreneurs who can create jobs and wealth.

This financial grant to IUT-Bois comes a few weeks after a grant of the same amount was offered to ENSET of the University of Ebolowa. To ensure that the partnership agreement is successful, MINPMEESA has committed to stand by IUT-Bois, in the implementation of its activities.

This story was first published in The Guardian Post issue N0:3173 of Friday July 19, 2024