GIS - 11 September 2014: The Minister of Business, Enterprise and Cooperatives, Mr Jangbahadoorsing Seetaram, proceeded this morning at Labourdonnais Hotel in Port Louis with the launching of the National Inclusive Business Award (NIBA) 2014. The award aims at rewarding and giving recognition to those companies which have already taken the initiative to incorporate inclusive business principles into their corporate strategies.
The overarching objective of NIBA is to honour transformational business models that integrate people at the Base of Pyramid into the value chain as suppliers, distributors, retailers or customers. More specifically NIBA 2014 aims at recognising and rewarding Mauritian enterprises which have already or started to embrace inclusive business efforts in the Mauritian economy. This will help to sensitise the business community on the benefits of adopting an Inclusive Business (IB) model so that, in the long run, the objectives of Government in terms of inclusive growth are attained.
The Award is open to Mauritian businesses having a turnover Rs 10 million and above. The winner will receive a cash prize of Rs 100 000 and project assistance to the tune of Rs 500 000 under the Mauritius Business Growth Scheme. Applications can be downloaded online at niba.enterbusiness.govmu.org. The award ceremony will be held on 12 December 2014 at the Intercontinental Hotel in Balaclava.
In his opening address, Mr Seetaram recalled that the launching of the NIBA will change the way people do business in Mauritius, adding that the Ministry of Business, Enterprise and Cooperatives is providing support to encourage enterprises to embark on IB.
Speaking about the IB model, he said that it is about business models that improve the circle of opportunities by establishing ties with small companies, microenterprises and entrepreneurs for mutual benefit. They could be included in the company’s value chain on the demand side as clients and consumers and on the supply side as producers, entrepreneurs, business partners and employees in commercially viable and scalable ways, he said.
According to the Minister, more than 90% of all establishments in Mauritius are microenterprises and can be considered at the base of the pyramid where they have limited economic power and limited opportunities to participate in the socio-economic development of the country. Hence the IB model is one way through which these categories of people can be included into business processes along the company’s value chain, he added.
During the launching ceremony, winners of the tagline and logo competitions for the NIBA were announced. The Tagline chosen is ‘Involve. Evolve. Achieve’. The NIBA website was also launched on the same occasion.
The Inclusive Business Award was launched following an announcement made in the budget 2014 where mention was made that the Ministry of Business, Enterprise and Cooperatives will organise a National Inclusive Business Award to recognise efforts by large businesses to support SMEs.
An Organising Committee was thus set up in February 2014 at the level of Ministry to monitor the implementation of the different activities and tasks involved in the project. Furthermore a Technical Assessment Committee was also set up to decide on the evaluation criteria for the Award to the most deserving enterprise practising inclusive business, assess the applications received, and recommend to the Jury panel the most deserving enterprises.
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