Across Africa, concerns over slowing economic growth and over-reliance on commodities are driving a renewed focus on diversification. Governments are recognizing the urgency of implementing supportive policies, training programs, and financing initiatives to catalyze innovation and unlock new avenues for growth.

Chad Innovation Hub (CIH), a youth entrepreneurship incubator, and the National Agency for Investments and Exports (ANIE) have formalized a partnership aimed at fostering innovation, entrepreneurship, and sustainable development in Chad.

The strategic alliance, announced on Tuesday, January 23, seeks to enhance Chad's entrepreneurial ecosystem by promoting open innovation and stimulating projects in digital technology, the circular economy, corporate social responsibility, and green business models. The partnership will also focus on empowering women and young people, particularly in rural areas, ANIE said in a statement.

The memorandum of understanding between ANIE and CIH includes provisions for the effective implementation of the Sustainable Development Goals (SDGs) and the establishment of a close collaborative relationship to mutually promote the private sector and diversify the economy.

The collaboration aligns with the government's policy to support entrepreneurship in Chad, which recently led to the creation of an FCFA30 billion  ($49.6 million) fund. The fund is designed to provide credit guarantees for entrepreneurs and finance key projects in sectors such as agriculture, livestock, and new technologies.

The agreement signals the start of a promising alliance that positions Chad on the international innovation stage. CIH, an award-winning organization, strengthens the belief that innovation and entrepreneurship are key drivers for a prosperous and sustainable future for Chad.

Samira Njoya