Kenyan CEO James Mwangi was named Ernst & Young’s World Entrepreneur of the Year
Posted by African Press International on July 4, 2012
In a ceremony held in Monte Carlo on June 9, CEO and Managing Director of Kenya’s Equity Bank, Dr. James Mwangi, was named the Ernst & Young World Entrepreneur of the Year 2012. He was picked from among 59 finalists from 51 countries vying for the world’s most prestigious business award for entrepreneurs.
Dr. Mwangi joined Equity Bank as finance director in 1994 when only 4 percent of the population had bank accounts. Now, 26 percent of Kenyans have one, and the bank manages more than 7 million bank accounts – over half of all bank accounts in Kenya.
He became the bank’s chief executive in 2004 and he listed the bank on the Nairobi Stock Exchange in 2006.
Dr. Mwangi’s sees Equity Bank as transforming the economy of the East African region with its focus on providing services to the “unbanked” poor. Meanwhile, through the bank’s foundation, it now funds several philanthropic initiatives including providing healthcare to 1.8 million Kenyans, 10,000 scholarships to educate orphaned and children in need, and 1,300 university scholarships.
Filed by Cristina Rue
Source: Financial Times
Source: Ernst & Young