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CDH Investment Bank (CDHIB) has contributed K16.9 million to help the Lilongwe University of Agriculture and Natural Resources (LUANAR) establish a Technology Transfer Office (TTO).
This support is the second activity this year and will last for three years, from 2023 to 2025, under a memorandum of understanding (MOU) signed between the bank and the university to support agricultural innovation challenges.
Speaking at the official opening of the training workshop and the Technology Transfer Office inauguration ceremony held in Dowa on Thursday, CDH Investment Bank’s Client Relationship Manager for Corporate and Public Sector Jennie Madinga said they were proud to be part of LUANAR’s history by supporting the organisation of the workshop and the office.
“We are committed to supporting innovation, which is essential to adapt and thrive in every aspect of business or life,” she said.
He added that investments in innovation will boost national development as such initiatives will contribute positively to overall growth.
Martinga believes that these innovations will help solve challenges related to social agriculture and support excellence in innovation that will contribute to national development.
In his remarks, the LUANAR Director of Research and Extension, Dr. Samson Katengeza, appreciated the bank’s support and said it would go a long way in setting up the office.
“We are very grateful for the financial support given to us by the bank, which will support the commercialisation of the innovative technology that has been discovered,” he said.
Kategeza said the innovations were selected from the Vice-Chancellor’s Awards, which recognizes those who have excelled in different categories of innovation, those who have published in internationally recognized journals, those who have submitted outstanding papers and research results, and individuals who have performed well in their departments, among others.
Isaac Chingota, director of technology transfer at the National Council for Science and Technology (NCST), commended LUANAR for establishing the TTO.
“This is necessary and will ensure that the innovations identified meet the standards acceptable to the NCST,” he said.
CDHIB signed a memorandum of understanding (MoU) worth US$57,901.62 with LUANAR to carry out three strategic initiatives each year for three years from 2023 to 2025.
The bank supports the implementation of tree planting programs, agricultural innovation challenges, and provides scholarships to at least five innovative, talented and unique students each year under the LUANAR Innovation Scholarship Program.
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