Rwanda Development Board (RDB) targets Business Excellence Awards to increase competitiveness within local businesses in an effort to boost the much needed private sector growth.
John Gara, the Chief Executive Officer (CEO) of RDB, said the annual Business Excellence Awards, now in their fourth year, will help companies to improve on their profitability that will translate into businesses’ capacity to compete in the East African region.
“We are going to bring into Rwanda a competitive spirit as these companies are trying to do the best,” he said yesterday during a press conference ahead of this year’s awards that are slated to take place on Friday.
He noted that the top awards will be given to the investor of the year, awards in special sectors of ICT, tourism, general manufacturing, mining, finance, real estate, the exporters of the year award, the best business friendly district award, young entrepreneurs of the year, woman entrepreneurs of the year and SME awards.
Gara noted that the awards will recognise small and medium enterprises, young and woman entrepreneur of the year as special categories for the awards aimed at encouraging more SMEs and
entrepreneurs to do business.
He said; “We intend to have some extra prizes for SMEs who will need more support.”
Companies that will win will become RDB’s ambassadors to mentor other businesses.
Gara also noted that RDB is planning to reward companies with good customer care as one way of turning around the image of service delivery in the country.
Vivian Kayitesi, Head of Investment Promotion at RDB, said the companies were assessed on their profitability for at least one year, corporate social responsibility, their compliance with the newly enacted company act, the ability to create employment among others.
She also noted that for companies to comply for the awards, they must have been registered with RDB and operational for the last two years.
This year’s Business Excellence Awards attracted around 130 companies.