2nd Good Business Awards launched
The Development Bank of Namibia has announced that the entry process for the DBN Good Business Awards 2013 has opened.
Entries for the awards, which seeks to recognise business excellence, will be closed on 26 August while winners will be announced at a ceremony to be hosted sometime in September.
Acting CEO, Martin Inkumbi said Wednesday that, with the launch of the awards in 2012, the bank set out to recognise enterprises’ efforts to create lasting jobs and income, adopt good governance practice and make a positive contribution to Namibia’s economic landscape.
For this year’s edition, the prize money, which has to be reinvested in the business by the winners, has been increased from N$30 000 to N$40 000.
Inkumbi told Journalists that entrants for the awards will be evaluated on the creation of permanent job opportunities, the adoption of sound financial management principles, value addition to local resources, good governance practice and local procurement.
All current DBN clients and those that paid off their loans in the last 12 months are eligible to enter while clients who are in their grace periods and are in arrears, are not eligible. Previous winners are also not eligible for entry.
At the inaugural awards last year, Walvis Bay based Karakulia Weavers was selected as the winner in the SME category for the persistence with which owner Moses Helao who was a former cleaner for the company worked his way up through the business to the point where DBN was able to finance his acquisition of the business.
The winner of the 2012 larger enterprise category, IUM, was selected for the vision which propelled the enterprise to become a leading private tertiary institution.