After carefully assessing a record number of entries, 12 finalists have been identified in the African Awards for Entrepreneurship (AAE) by an independent judging panel to advance to the final round of the competition.

The top 12 finalists were chosen after a thorough due diligence exercise was carried out by professional services firm PwC which is also a co-sponsor of the awards.

Ayesha Bedwei, PwC Tax Partner based in Ghana, and Coordinator for the PwC/AAE process, says: “After a thorough screening process conducted by nine PwC offices in Africa (Kenya, Ghana, Morocco, Egypt, Botswana, Nigeria, Uganda, Senegal and South Africa),that focused on the soundness of the business model, financial health, as well as integrity of business practices, the Awards can now advance to the final round of the competition where the panel of judges will choose the winners.”

The Top 12 finalists have been narrowed down from a list of more than 1000 companies from 50 African countries.

“These businesses’ ability to inspire others and to ignite a business from start-up to a leader in industry is a remarkable achievement. Entrepreneurship must be acknowledged and supported across the African continent to address the issue of poverty and unemployment on the continent.

This year’s finalists were chosen from the most dynamic, enterprising and successful businesses. It is encouraging that African entrepreneurs are taking pride in the businesses they have helped to create and transform.” says Bedwei.

PwC also supports a number of initiatives designed to assist entrepreneurs make their dreams come true.

The PwC South African network recently launched the Vision to Reality Awards programme designed to recognise and honour companies whose outstanding achievements have made them some of the country’s most successful technology companies.

According to PwC’s recent ‘African Business Agenda, 2014’ publication, innovation and growth are top of mind for African CEOs. In many cases, entrepreneurs have discovered opportunities and transformed them into business ventures that add value and generate revenues.

This year’s Top 12 finalists represent a broad spectrum of sectors across Africa, including amongst others, beverages, mobile social network, IT infrastructure network and manufacturing industries.

“PwC believes that these Awards will raise a beacon of light on Africa’s most outstanding entrepreneurs. In the process, it is hoped that they will be accelerated to the global market and be leaders in their respective industry,” adds Bedwei.

The winners will be announced at an awards ceremony at the AAE Gala Dinner on 6 November 2014 in Kigali.

The 2014 finalists include Transformational Business Award: Askal Group (Morocco); Bidco (Kenya); Choppies (Botswana), Outstanding Mature Business Award: KongaOnline (Nigeria); Mxit (South Africa); OSTEC (Ghana), Outstanding Small and Growing Business Award: Khaas Logistics (South Africa); SBI (Somaliland); Trust Industries (Rwanda) and Outstanding Social Entrepreneur Award: BanaPads (Uganda); Shining Hope for Communities (Kenya); Wecyclers (Nigeria).

In addition to the winners from these four categories, a winner for the Lifetime Achievement Award will also be announced at the awards ceremony.