(Business in Cameroon) – The University of Bamenda (UBa) has entered into a strategic partnership with Afriland First Bank to strengthen Cameroon’s student-entrepreneurship drive and align higher education with the country’s economic priorities. The Memorandum of Understanding (MoU), signed on November 21 at UBa’s campus, is part of a broader initiative that saw six academic and seven non-academic institutions formalize similar agreements with the university.
UBa Vice Chancellor, Prof. Theresa Nkuo-Akenji, highlighted the economic importance of the partnership, noting that it will enable students to gain practical exposure through internships, immersion programs, and collaborative projects, ensuring that the skills they acquire match the demands of the job market.
She emphasized that the MoU reflects Cameroon’s higher education law, which requires universities to graduate students with practical skills for absorption into the job market.
According to the Vice Chancellor, this kind of collaboration not only helps universities tailor curricula to market demand but also gives students exposure to real-world business environments, a persistent challenge in many African countries, where underemployment of graduates remains high.
Cameroon’s youth unemployment rate stood at 6.23% in 2024, according to the World Bank’s World Development Indicators. However, the African Development Bank (AfDB) highlights that nearly 70% of young people are underemployed, often working in low-productivity or vulnerable jobs.
Ngoran Sefola Harret, West Region Manager for Afriland First Bank, spoke to reporters after the signing. He traced the bank’s history from its founding in 1987 to its current status as a national powerhouse.
“As of today, Afriland is a leading bank in Cameroon with top deposits of over 1,700 billion FCFA and with over 92 branches covering the entire territory of Cameroon. In Bamenda, we already have two branches presently in Commercial Avenue and in Nkwen,” Ngoran said.
He also announced that the bank is constructing a new branch in Up Station, Bamenda, bringing its operations even closer to the student community.
According to Ngoran, Afriland will leverage its network and expertise to absorb interns from UBa, providing them with hands-on banking experience so they “will be ready for the job market” upon graduation.
He added that the bank’s “innovative digital solutions” will enable the university community to perform banking operations digitally and without fees, reinforcing the bank’s commitment to accessibility.
For UBa, the MoU comes at a moment of institutional momentum. Prof. Nkuo-Akenji noted that the university has secured a grant under TAGDev 2.0, in partnership with the Regional University Forum for Capacity Building in Agriculture (RUFORUM), designed to transform Africa’s agricultural universities.
This grant underscores UBa’s commitment to not only academic excellence, but also social impact-training students who will contribute to jobs, food systems, and sustainability.
The initiative also dovetails with the government’s Student-Entrepreneur Programme, launched in 2020, which aims to support at least 5,000 student-led enterprises by 2030. By linking financial institutions with universities, the programme seeks to reduce reliance on public sector jobs and stimulate private-sector growth.
Mercy Fosoh
