Cabo Verde Opens Applications for "Empresa Excelência 2025" Business Award
Cabo Verde has opened applications for the "Empresa Excelência 2025" (Excellence Company 2025) award, a voluntary and free initiative for private companies. To be eligible, businesses must have organized accounting, be headquartered or commercially registered in Cabo Verde, and have at least three years of operational history. Interested companies must register on the official platform, provide requested information, and submit necessary documentation. This includes financial data for the 2025 fiscal year, declarations of tax and social security compliance with the National Directorate of State Revenues (DNRE) and the National Institute of Social Security (INPS), and a questionnaire on sustainability and corporate governance.
The evaluation process is automated, relying on objective criteria such as economic and financial performance, business stability, management practices, tax and contribution compliance, sustainability, and corporate responsibility. The number of participating companies has steadily increased since the program's inception. In its first edition (2023), 60 companies registered, 19 applied, and 10 received the award. The second edition (2024) saw 150 registrations, with 45 applications and 25 certifications awarded. To date, 35 certifications have been granted across various sectors including commerce, industry, tourism, hospitality, health, IT, and logistics.
Certified companies gain public recognition and access to a business community with benefits derived from public and private partnerships. These advantages include pre-approved guarantees from Pró-Garante for financing, business consulting from MGO Consulting, and discounts on training and software licenses from Cegid. For the third edition, new recognition categories, enhanced benefits, and a stronger community focused on trust, rigor, and collaboration are planned. Developed with technical support from the UNDP Accelerator Lab and backing from the Ministry of Finance and Business Development, the initiative aims to foster a more competitive and sustainable business environment in Cabo Verde, promoting good management practices, transparency, and financial literacy.
The "Empresa Excelência" initiative in Cabo Verde aims to enhance the competitiveness and sustainability of its business sector by promoting best practices and transparency. The automated, objective evaluation criteria are designed to mitigate bias and ensure a standardized assessment of corporate performance. By linking certification to tangible benefits like improved access to finance and business support services, the program creates economic incentives for companies to adopt higher standards. This public-private partnership model, supported by entities like the UNDP, leverages external expertise and resources to bolster domestic business capabilities. Looking ahead, the program's success will depend on its ability to adapt to evolving market dynamics and technological advancements, ensuring that certified businesses are not only compliant but also resilient and innovative in the face of future challenges.
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