Rwanda Development Board (RDB) is set to award top businesses in Rwanda as an incentive to encourage good business practices in the private sector.

RDB said in a statement on Tuesday that the move also aims at recognising and reinforcing the work being done by the business community, hence supporting their contribution towards the country’s development.

The event is scheduled to take place at Kigali, Serena Hotels on January 29, 2010.

"The main objective of the awards is to recognise and encourage the consistent and innovative performance of the business community in Rwanda in sustaining the growth of our economy,” the statement reads.

The awards will also act as an incentive for investors and leading businesses to adopt best practices that grow their business.

The programme also aims at recognising and rewarding outstanding business people for the efforts they have directed into specific activities during the year.

RDB said that the programme will raise the general level of business through  a business network that can nurture emerging private sector leaders.

The statement said that there will be three categories to be awarded which include; Gold, Silver and Bronze. The Gold Award is open to investors with an operational investment of higher than $1 million (Rwf570 million).

The Silver category is open for investors with investments worth between $500,000 (Rwf285 million) and $1,000,000 in investment. The Bronze category is open for investors with less than $500,000 in investment.

Nominees in all categories shall be rewarded with an outstanding public recognition during the Investor Award Gala Dinner while winners will receive trophies and an exchange trip to visit a company overseas that is considered a global leader in an area relevant to the winners.

Apart from the general prizes, nominees and winners under the categories of Exporter of the Year will be prioritized to access the export fund and promoters will get special assistance in terms of facilitation and advisory services.

In the previous years, the board held investor recognition days in 2007 and in 2008 in the events organised to recognise and award the efforts of the Rwandan business community in the development of the country.

The events were celebrated in the form of a gala dinner which provided a networking platform between government officials and the private sector and between business people themselves to interact, learn from each other and exchange views on how all stakeholders can improve the business climate in Rwanda.

Ends