Eleven firms in the East African Community have qualified for the finals of the inaugural Legatum Pioneers of Prosperity Africa Awards.

The competition attracted over 450 firms drawn from a cross section of sectors in Burundi, Kenya, Tanzania, Rwanda and Uganda. Based on a rigorous evaluation, 11 finalists were selected including three firms from Rwanda.

Contrary to recent press reports, the winners of this competition have not been selected.

An eminent panel of independent judges will select six winners among the finalists.

The six winners will receive a total of $350,000, with a Grand Prize of $100,000 and five prizes of $50,000.

Sources close to the sponsors have expressed optimism that these awards will inspire entrepreneurs to continuously innovate and create prosperity.

President Paul Kagame will preside over the Awards ceremony attended by regional leaders and captains of industries.

This event is scheduled for 30th November, at Kigali Serena Hotel.

Organised by The OTF Group, this award is sponsored by Legatum and the John Templeton Foundation.

Legatum is a private firm that invests in capital markets and in initiatives that support human and social development.

Many business leaders from the region have expressed excitement about the awards and are looking forward to celebrating the success of innovative and dynamic enterprises in East Africa.

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