The Harare Institute of Technology (HIT) and Commercial Bank of Zimbabwe (CBZ) recently entered into a five year Memorandum of Understanding which will see the two institutions collaborating in various areas of business interests.
The partnership is effective from the 27th of June 2017 to June 2022.
According to HIT, the MoU is meant to facilitate effective cooperation between CBZ and HIT in areas of innovation, research and business development. As part of the university’s drive to promote its interface with industry partners; the agreement will enhance the advancement of knowledge through research which is relevant to industry needs and developments.
The partnership also comes as a major breakthrough to students from HIT who will now get exposed to hands-on commercial experience at CBZ Holdings. Considering the challenges faced by many tertiary students when looking for industrial attachment in third year, the institution has moved strategically to foster relations with various companies in a bid to help its alumni penetrate the industries without much hustle.
The MoU will see CBZ fulfilling the following:
- Engage HIT in collaborative research and research showing potential for commercialization
- Provide relevant public lectures / speeches by CBZ Holdings Executives on University Events.
- Explore business incubation programmes with HIT
- Provide opportunities to roll out commercialised innovations
- Participate in mutually beneficial and relevant HIT programmes
- Cooperate on human capital development and continuous professional development programmes
- Provide grants to promote innovation, amongst others
On the other hand, the MoU will see HIT undertaking the following:
- Engage CBZ in collaborative research and research showing potential for commercialization
- Provide relevant public lectures/ speeches platforms to CBZ Holdings Executives on University Events.
- Explore business incubation programmes
- Provide opportunities to roll out commercialised innovations
- Participate in mutually beneficial and relevant CBZ programmes
- Cooperate on human capital development and continuous professional development programmes
- Certify and accredit CBZ in house training curricula
- Provide grants to promote innovation, amongst others
The agreement will also explore similar areas of interest in pursuance of the two institutions’ mandate and will serve to propel both institutions to higher levels, in areas of human capital development, provision of grants, interface and exchange of experiences through public lectures and sharing experiences from the world of work, among others. (Sourced from: www.hit.ac.zw)
