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Peter Munga

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Full Name  Peter Munga
Spouse(s)  1
Years active  1963–present
Home town  Kangema
Ethnicity  Kikuyu
Role  Businessman
Nationality  Kenyan
Name  Peter Munga

Peter Munga wwwjambonewspotcomwpcontentuploads201312Mu
Born  1943 (age 71–72)Kangema, Kenya
Occupation  Businessman and Entrepreneur
Title  Group Chairman Equity Bank Group
Similar People  Benson Wairegi, James Mwangi, Naushad Merali, Vimal Shah, Chris Kirubi

Organizations founded  Equity Bank Group

Peter Munga hands over chairmanship in symbolic ceremony


Peter Kahara Munga is a businessman and entrepreneur in Kenya, the largest economy in the East African Community. He is the group chairman of the Equity Bank Group, the largest bank holding company on the African continent, by customer numbers, with over 9.2 million customers as of 31 June 2014. He is reported to be one of the wealthiest individuals in Kenya, with a personal net worth exceeding US$100 million as of February 2014.

Contents

Background and education

Peter Munga No politics at Equity boss sons funeral The Star Kenya

Munga was born in Kangema in Kenya's Central Province in 1943. He went to Gaichanjiru high school

Career

Peter Munga Peter Munga Biography Career Video and Photo Softkenyacom

In 1984, Munga founded Equity Building Society (EBS) in his hometown of Kangema, in Kenya's central highlands. With about KSh5,000 (about US$100 at that time) as starting capital, he convinced the Kenya government to issue him a license.

Peter Munga Equity Group chair Munga talks up succession plans at the giant bank

In 1993, Munga, as chairman, working in collaboration with the chief executive officer of EBS, hired James Mwangi, age 31, to wind up the insolvent organisation. EBS was losing KSh5 million (approximately US$60,000 then) annually and had accumulated total losses of KSh33 million (approximately US$380,000 then). Mwangi, as director of finance at EBS, began to institute changes, resulting in the slow, but steady turn-around of the society. Also in 1993, Munga resigned as an assistant secretary in Kenya's Ministry of Water.

Peter Munga The rise and rise and Equity Banks founder Peter Munga

On 31 August 2004, EBS became Equity Bank and two years later was listed on the Nairobi Stock Exchange (NSE). On 18 June 2009, the bank's stock cross listed on the Uganda Securities Exchange and started trading that day, under the symbol EBL. As of November 2014, the bank group has subsidiaries in Kenya, Uganda, Tanzania, Rwanda, and South Sudan.

Investment portfolio

Peter Munga Peter Munga on Wikinow News Videos Facts

Munga owned shares of stock in the publicly traded companies listed below, as of November 2014.

Peter Munga Equity Bank prepares for Munga exit as it appoints new directors

Shares traded on the NSE.

References

Peter Munga Wikipedia


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