2012 PSF LEADERSHIP RETREAT

100 Days Action Plan Chambers Presidents Sign Performance Contracts with CEOIn the spirit of enhancing private sector development so that the sector can truly become the driver of Rwanda’s socioeconomic development, the top leadership of Private Sector Federation (PSF) recently organized a 2-day retreat at Kivu Serena Hotel in Rubavu; from 24-25 February, 2012. Led by the Board Chairman of PSF, Mr. Faustin Mbundu the retreat aimed at enhancing accountability of PSF leaders to the federation members of at all levels, among other things. Notably, the leaders took time off to extensively review the performance of the federation to re-strategize for a better future.In attendance were all Chamber Presidents and PSF Provincial heads and key business leaders.The retreat ended on high, with leaders agreeing on the “100 Days Action Plan” consisting of critical action points that must be achieved within that time frame. They also came up with med term action plans.Now a more result-oriented PSF, the retreat saw Chambers Presidents and the Secretariat’s Chief Executive Officer (CEO) Mr. Hannington Namara sign Memorandum of Understanding commonly referred to as Performance contracts—to ensure effectiveness of these action plans. It was agreed that each chamber as well as the PSF secretariat will be evaluated periodically. The Minister of Trade and Industry (MINICOM), Hon. François Kanimba presided at the (retreat) closing day. He pledged continued Government support in developing a vibrant private sector but challenged the private sector take lead in harnessing the best out of the existing Private Public Partnerships (PPPs). On the policy and legal framework, the Minister urged the federation to be more proactive through effective dialogue with policy makers. For a couple of years now, PSF is elaborating the Mini RIGs (Rwanda Investment Groups) programme—where business people are encouraged to pool financial resources to invest in sizeable ventures they have both comparative and competitive advantages. The initiative has so far spread like wildfire, across the country; at provincial and district levels. Minister Kanimba urged PSF to strengthen Mini RIGs, especially at association level to enable them venture into big projects of socioeconomic importance to Rwandans. Also, the government is focusing on expanding the tax base in the country by growing the Small and Medium Enterprises (SMEs) that form the biggest part of the private sector—over 90 per cent. Hon Kanimba urged PSF to work closely MINICOM in elaborating interventions for SMEs development.On his part, Mr. Mbundu Faustin remarked that more efforts need be put in the implementation process. To this end, he encouraged leaders and members of PSF to always approach the Secretariat for advocacy whenever they encounter business challenges, particularly issues that are cross cutting in nature. These developments come at the backdrop of the recently concluded PSF elections late last year…where so many candidates willingly vied for leadership positions. This was indicative of the fact that they understand the importance and feel they want to play a role in the development of private sector in Rwanda. Over the last couple of months PSF has gotten down to serious business, striving to take the Federation to the next level. It is safe to say that with the caliber of leadership at PSF today, at all levels, more impressive results will surely shine through by the day. Even more important are the profiles of these leaders—most of whom are business leaders and are quite knowledgeable about corporate governance, who understand the business environment quite well and how it should improve. As Mr. Mbundu recently said in an interview: “Having such credible persons at the helm of the federation leadership gives me pride and confidence that we’re now ready to take (the federation) to the next level. As the chairman of the Board, I see a lot of enthusiasm to deliver—that kind of self-drive”. Remarkably, PSF now has five active committees that are evidently proactive. These are; Advocacy, Finance and Administration, Assets and Investments, Governance and Operations. Mr. Mbundu said he has increased the frequency of BOD meetings from quarterly to bi-quarterly. At such meetings, these committees report progress on action plans. “We hope to ensure maximum efficiency through this mechanism”, he said.

Advertorial

2012 PSF LEADERSHIP RETREAT