Equity's Mwangi scoops Nobel Prize of Business

The Oslo Business for Peace Foundation has awarded Dr James Mwangi, the Managing Director and CEO of Equity Group Holdings with the prestigious 2020 Oslo Business for Peace Award. 

Commonly known as the "Nobel Prize of Business", the Oslo Business for Peace Award is one of the highest global distinctions that can be given to a business leader. 

The Award is conferred annually to exceptional individuals who exemplify their outstanding `business worthy' initiatives ethically by creating economic and societal value.

It is the highest global distinction given to a business leader to celebrate their efforts at promoting peace and prosperity for the greater good of society through their everyday business activities.

It was founded to provide the Honorees with a platform to share their business wisdom with the world and to help other leaders to understand how ethical and responsible business can contribute to building trust, stability and peace. 

The award also seeks to promote the achievement of the United Nations Sustainable Development Goals, specifically Goal 8: helping to achieve sustained, sustainable and inclusive growth and decent work for all.

Past award winners include Elon Musk, Founder and CEO of Tesla; Sir Richard Branson, founder, and CEO of the Virgin Group; Ratan Tata, Chairman of India's Tata Group; Anders Dahlvig, CEO of IKEA and Dr Mo Ibrahim, founder of Sudan's Celtel.

Per Saxegaard, founder of the Oslo Business for Peace Award said that Dr James Mwangi received the Award for his business worthy values in championing financial inclusion for all in East and Central Africa. 

He noted that Dr Mwangi helped achieve a social revolution by bringing banking services to people who previously had limited access to them, 

"Dr Mwangi is an exceptional entrepreneur and humanitarian. The Committee sees him as a shining example of how business leaders can accelerate change and help solve the world's problems," Per Saxegaard said.

On receiving the award Dr Mwangi said that societies problems can be solved by seeking innovative solutions anchored on shared value and prosperity. 

"I share this award with our micro, small and medium entrepreneurs (MSME customers) who wake up every day to create wealth and opportunities for our society. This award is a great inspiration to all Africans to believe in their dreams and to pursue them with dedication and conviction that together, we can change our continent within our lifetime," Dr Mwangi said. 

"It's my hope that this award will inspire the world to seize the COVID-19 moment as a call to build a more resilient global economy by putting purpose first and seeking business worthiness by being ethical and people-centred for a more equitable and sustainable world," he added. 

John W.H Denton, Secretary-General of the International Chamber of Commerce (ICC) said that Dr Mwangi's achievements are very inspiring, and his actions demonstrate a strong humanitarian value in doing business.

Dr Mwangi was chosen alongside two other global leaders, Joji Felicitas Pantoja, Co-founder of Coffee for Peace in the Philippines and Marc Benioff in the US, Chair and CEO of Salesforce. The selection process was done by an independent Award Committee of Nobel Laureates in Peace and Economics.

The award will be handed over to Dr Mwangi in March 2021.