Youth entrepreneurship: Gov’t shares 420 million FCFA cash support to 22 student entrepreneurs.

The finances were handed over recently in Yaounde. This was during an official ceremony chaired by three government ministers. 

The projects awarded were selected during the 7^th edition of the Entrepreneurial and Technological Genius Competition, GETEC. 

The support targets projects in sectors including the digital economy, agro-industry, services, and forest and wood processing.

The ceremony brought together the Minister of State, Minister of Higher Education, Prof Jacques Fame Ndongo, the Minister of Small and Medium-sized Enterprises, Social Economy and Handicrafts, MINPMEESA, Achille Bassilekin III, and the Minister of Youth Affairs and Civic Education, MINJEC, Mounouna Foutsou.

The three officials jointly presented the cheques to the beneficiaries, marking the formal release of the FCFA 420 million package allocated for the 2025 edition. 

According to the organisers, 33 student entrepreneurs competed at GETEC between June 16 and 19, at the National Museum in Yaounde. 

An interministerial committee later met from October 30, to November 4, to evaluate the submissions and select the final 22 projects based on conformity, entrepreneurial relevance, and preferential criteria.

During the handing over ceremony, the Minister of State, Minister of Higher Education, Prof Jacques Fame Ndongo, said the funds were intended strictly for business development. 

He emphasised that each project owner would undergo regular evaluation and monitoring to ensure proper use of public resources. 

On his part, Minister Bassilekin III explained that the selection process was designed to identify the strongest proposals for implementation. 

He noted that his ministry had already provided more than FCFA 2.7 billion to university incubators over previous years. 

He stated that the objective was to support job creation and promote national development by enabling young innovators to transform their ideas into operational enterprises.

The 22 winning projects cover fields such as agro-industry, digital technology, forestry, construction, agro-food production, and services. 

Under the new approach introduced after the last edition of GETEC, the State now channels subsidies directly to young entrepreneurs instead of university-based incubators. 

According to Prof Fame Ndongo, the method is intended to improve follow-up and enhance efficiency in project implementation. 

After the disbursement phase, incubation structures will also receive reinforcement to continue supporting the emerging junior enterprises.

Minister Bassilekin III further announced that the budget allocated to university incubators is expected to reach FCFA 450 million in 2026. 

The authorities stated that the long-term aim is to build a solid base of innovative youth-led enterprises capable of contributing significantly to economic growth, and reduce youth unemployment, as prescribed in the National Development Strategy, NDS30.

This article was first published in The Guardian Post Edition No:3646 of Friday December 05, 2025