Rwanda Investment and Export Promotion Agency (Riepa) is set to reward local importers and exporters this year, to recognise the private sector’s role towards Rwanda’s economic development.

Private sector development is identified as a strategic pillar that can alleviate poverty and turn Rwanda into a middle income economy by 2020.

Rosemary Mbabazi, Riepa’s Director of Investment Promotion said that the programmes will recognize and encourage the consistent and innovative performance of the business community towards sustainable growth.

Private Sector Federation (PSF) officials are also optimistic that the awards will put positive peer pressure on the entire business and investor community to achieve best practices in investment and business strategy.

According to the programme, about 14 companies will be awarded, with seven companies from each slot - export and import. Only companies registered with Riepa have been contacted, of which 170 have received questionnaires.

The investor award is open to all investors registered with Riepa with at least one year in operation. While exporter award is open to all exporters operating in Rwanda with at least three years in operation.

Mbabazi said that overall, exporter will be prioritised to access the export fund with special assistance, in terms of facilitation and advisory services.

Two overall winners (investor and exporter) shall be associated with Riepa’s promotional activities as goodwill ambassadors.

The judging panels are drawn from the private and public sectors comprising persons with international business experience. Currently, Riepa is in the process of collecting questionnaires from the eligible companies.

The Riepa Investment Director said that they have hired a consultancy firm to undertake the assessment of questionnaires. He however did not reveal the firm that has been hired.

The awarding programme was initiated last year during a Riepa gala for the private sector. It was intended for exchanging views on how all stakeholders can improve the business climate in Rwanda.

However on a keynote, the event served as a precedent to this year’s award which was scheduled to be held annually starting in 2008.

Similarly, Rwanda Information Technology Authority (RITA) held an awarding event in recognition of companies that are contributing to IT diffusion in Rwanda, as the country seeks to become an IT hub in the region.

Riepa and RITA are some of the seven institutions amalgamated into Rwanda Development Board (RDB) by government. The amalgamation is intended to mainstream efforts that steer up economic development.

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