The proposed annual rewarding of entrepreneurs by the Private Sector Federation (PSF) remains uncertain after registering a low turn up of participating companies.

Only 25 companies of the anticipated about 50 have registered with the federation for the awards dubbed, "Enterprise of the Year Award” (ENOYA).

Twenty four winning companies from 12 distinct classes such as services sector, tourism sector and Chief Executive Officer (CEO) of the year, were to be awarded. Winners from each category would then be crowned including overall winners.

During an interview with the Business Times, Emmanuel Hategeka, the PSF Chief Executive Officer (CEO) said that this makes the whole organisation difficult.

"Though we also have to do some funding, participants pay for their admission into the programme. The funds cater for the programme administration and scrutiny process.”

Sources say that PSF had sought for financial assistance from the Ministry of Trade and Industry (MINICOM). However, the MINICOM Permanent Secretary, Antoine Ruvebana, said that the ministry was not financially able to help.

The ceremony was initially scheduled for late last year but was postponed to February this year due to the same reasons. Since the number did not increase, the federation still postponed the ceremony to a later date this year.

Hategeka explained that this was to attract other companies into the programme, which stimulates entrepreneurship spirit and competitiveness among the business community.

"Once the number of participants gets to about 30 coupled with some external funding say from MTN, we will definitely roll out the awarding.” 

The awards are open to all sectors of the economy that are innovative and competitive in a bid to recognise their contribution towards Rwanda’s economy.

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