The 2009 Yara Prize for an African Green Revolution, presented annually by the Yara Foundation, is awarded to Peter Munga, Chairman of Equity Bank in Kenya and the National Smallholder Farmers' Association of Malawi (NASFAM) for their transformational contributions to the reduction of hunger and poverty in Africa.
is an accomplished African business leader and entrepreneur whose dedication to the unbanked poor continues to enable millions of smallholder farmers access to much needed affordable savings and credit facilities so that they can break out of the poverty cycle and build better lives.
As the founder of Equity Bank he has seen the organization move from a small village-based building society to a fully listed commercial bank that is home to over half of all bank accounts in Kenya.
Representatives of NASFAM
and Mr Munga
will receive their awards on 5 September 2009 in Oslo, Norway, at an award ceremony hosted by the Yara Foundation
ABOUT PETER MUNGA, CHAIRMAN OF EQUITY BANK
Peter K. Munga serves as Chairman of Equity Bank Limited and National Oil Corporation of Kenya Limited.
holds directorships in several organizations including British American (K) Insurance, Equatorial Nut Processors Limited, and Micro-Enterprise Support Programme Trust (MESPT).
Mr Munga founded Equity Bank in 1984.
first customers were small-scale dairy coffee and tea farmers.
encouraged the small peasant savers and borrowers to support the financial institution by enrolling them into the bank from where they were paid for their crops without being subjected to punitive charges.
Under the leadership of Mr Munga
, Equity evolved from a Building Society, to a Microfinance Institution to now the all-inclusive Nairobi Stock Exchange public listed Commercial Bank