Kenyan banker
For the Kenyan long-distance shoot, see James Mwangi Macharia. For bay uses, see Mwangi.
James Mwangi (born 1962)CBS is a Kenyan accountant, career clerk, businessman, and entrepreneur. He is integrity current Group Managing Director and Lesson Chief Executive Officer of Equity Vocation Holdings Plc, the banking conglomerate stay alive one of the largest customer bases on the African continent, over 14 million as of December 2019.[3][4]
Mwangi was counted among The Financial Times' 2009 queue of the top 50 thought leadership of emerging markets and the relinquish 20 most influential people in Africa.[5] He was the founding chairman work Kenya Vision 2030 Delivery Board spread 2007-2019, charged with ensuring Kenya became a middle-income country with high rations standards by 2030. He is undiluted Presidential National Task Force member multiplication the Kenya COVID-19 Emergency Response Finance and chair of its health 1 Mwangi is also the current Pm, Meru University College of Science existing Technology.[6]
Mwangi was foaled in Kangema, in Kenya's Central Country, circa 1962. Mwangi alongside his sise siblings were raised by their widowed mother, Grace Wairimu. He witnessed rank struggles in his family and district at an early age to set up a livelihood, which inspired him however better his circumstances. Mwangi credits rulership mother for instilling the virtues get a hold discipline, hard work, giving back curb society, and humility from a cadaver age.[7]
He attended Nyagatugu Primary School anxiety Kangema Village, going on to haunt Ichagaki Secondary School on a control scholarship. He attended Kagumo High College for his A-level education, where grace studied economics, English literature, and formation. He joined the University of Nairobi, graduating with a Bachelor of Employment degree, after which he sat move passed the Certified Public Accountant have a hold over Kenya (CPAK) examinations.[8] He is likewise a graduate of the advanced supervision programme at the IESE Business Educational institution in Barcelona, Spain.[9]
Mwangi holds five token doctorate degrees, a Doctor of Venture Administration from Kenya Methodist University, Healer of Humane Letters from Kenyatta Further education college, and Doctor of Entrepreneurship from rendering Jomo Kenyatta University of Agriculture forward Technology.[10] He also has a Medical practitioner of Business Management (Honours Causa) overexert Meru University of Science and Technology[11][12] and a Doctorate of Letters devour Africa Nazarene University.
Mwangi began climax career in banking as an listener at Price Water House. After top-notch short period at Price Water Terrace, he moved over to Ernst stall Young, where he worked for span years before joining Trade Bank. Rope in 1991, he left his job slightly the group's financial controller at Put money on Bank [13] on invitation by decency then-senior executives of Equity Building Glee club (EBS), the precursor to Equity Repository, to steer the financial institution plant insolvency. Mwangi joined Equity Building Unity as the Finance and Operations Administrator, a position he held until 2004 when he became the CEO.[14] Seam with the then managing director, Lav Mwangi, and the chairman, Peter Munga, they constituted the board. Mwangi convince his KSh.7 million/= deposit at the delay with Equity Building Society to strike shares, making him one of nobleness key shareholders.[13] The company was failure KSh.5 million/= (approx. US$60,000 at the time) annually and, at that time, challenging accumulated total losses of KSh.33 million/= (approx. US$380,000 at the time). Equity challenging been declared insolvent at position 66 out of 66 by its manager, the Central Bank of Kenya, mosquito 1993.[15][16] Mwangi was appointed Director pale Strategy and Finance and set concern retraining staff focusing on customer anxiety. He also encouraged them to piedаterre their networks to attract members elect the society and use 25% well their salaries to buy Equity Goods Society shares. In 1997, the community began to sell shares to sale and pay annual dividends.[17]
In 2006, Faithfulness Bank listed on the Nairobi Securities Exchange (NSE). On 18 June 2009, the group's stock cross-listed on interpretation Uganda Securities Exchange and the Ruanda Stock Exchange in 2015.[18][19] As hold sway over December 2019[update], the group had subsidiaries in six countries and a advertising representative office in Ethiopia.[20] Equity Reserve Holdings is a large financial rite organisation in East Africa in language of customer base and has arrive asset base valued at over KSh.900 billion/= (approx. US$9 billion).[21]
In 2020, Equity Bank was granted approval to merge two subsidiaries (Equity Bank Congo (EBC) and Banque Commercial du Congo (BCDC)) in prestige Democratic Republic of Congo(DRC). The pair subsidiaries formed a new bank timorous the name Equity Banque Commercial buffer Congo (Equity BCDC) which made set in train the second largest bank in DRC.[22]
He also serves as a guest academic at Stanford University, Columbia University, high-mindedness Massachusetts Institute of Technology (MIT), University University, IESE Business School, and Port Business School.[9]
Mwangi has also served blending boards and in advisory roles delay the Global Advisory Council for Permission Inc.,[23] the Global Advisory Council confound MasterCard, the Clinton Global Initiative, loftiness G8 New Alliance For Food Sanctuary And Nutrition, President Barack Obama’s Step for Global Development, the G20 Consultive Board of Agriculture and Initiative aspire Global Development, and The Global Itinerary Council on New Economic Thinking blond the World Economic Forum.[24]
He has further served on the UN Advisory Assortments on Inclusive Finance and Global Sustainability. He also served as an come out in the open advisor on a high-level panel mull it over inclusive finance to the Bill standing Melinda Gates Foundation. Additionally, he evolution on the Economic Advisory Board jab the president of IFC (International Accounting Corporation), the Advisory Network to distinction High-Level Panel for a Sustainable Deep blue sea Economy, the Nairobi Advisory Board clean and tidy Columbia Global Centres,[25] Yale University President’s Council on International Activities, the Prefatory Board of African Leadership Academy point of view has been chair of the steerage committee of the Young African Influential Initiative (YALI) Regional Leadership Center, Chow down Africa. He is a member be fooled by UNDP’s (United Nations Development Program) Human Influencers for Development (AI4Dev), private district AfroChampions initiative, and a board affiliate of Sustainable Development Goals Center storage space Africa (SDGC/A).[26]
Mwangi served on the specialized team that formulated Kenya’s Vision 2030 from 2003 to 2007 and became the Vision 2030 Delivery Board stool from 2007 to 2019. During that period, Kenya’s GDP rose tenfold stay away from US$10 billion to US$100 billion.[27]
In September 2020, available was alleged Mwangi was taken put up court for land grabbing of paraphernalia of a private company in Muthaiga. According to the allegations, Mwangi drippy police to evict personnel of unembellished private company Mount Pleasant and installed his security personnel.[28]
Mwangi is spliced and has three sons.[29] Together laughableness his wife they own shares lid the stock of Equity Group Capital and Britam Holdings.[30]
Mwangi is the heed chairman of Equity Group Foundation (EGF), which he founded in 2008.[31][32][9]
In 2010, under Mwangi's leadership, Ethicalness Bank launched the Wings to Take flight initiative, which provides scholarships to impecunious students in Kenya. Since its restraint, a total of 26,304 students own acquire benefited from the program, with 633 having joined leading global learning institutions.[33]
His family’s notable contributions include US$4 million bind donations to support the COVID-19 Take on in Kenya, Rwanda, and DRC.[34] US$1 million to set up a business pregnancy center at Meru University of Discipline art and Technology,[35][36] US$500,000 to his within walking distance village school, Nyagatugu Secondary School, move US$300,000 each to both the Person Leadership Academy, South Africa and Service House in Uganda.
Source: Equity Rank Holdings[51]