{{Short description|Kenyan businessman and entrepreneur}} {{Use dmy dates|date=August 2019}} {{Infobox person | name = Peter Munga | image = | alt = | caption = | birth_date = {{birth year and age|1943}} | birth_place = Nyagatugu, Kenya | education = Certified Public Secretary | occupation = Businessman and entrepreneur | years_active = 1963–present | known_for = Former group chair of Equity Bank Group }}

'''Peter Kahara Munga''' is a Kenyan businessman and entrepreneur. Formerly, he was the chair of the Equity Bank Group, the largest bank holding company on the African continent by customer numbers, as of 31 June 2014.<ref name="1R">{{cite web|title=Peter Munga retires as Equity chair after serving for 35 years |access-date=6 June 2018 |location=Nairobi | url=https://www.businessdailyafrica.com/news/Peter-Munga-retires-as-Equity-chair/539546-4599336-63u4e5z/index.html |date=6 June 2018 |first=Edwin |last=Okoth |newspaper=Business Daily Africa}}</ref><ref>{{cite web|title=Kenya's Mobile Innovation Brings Digital Money Closer| url=https://www.bbc.com/news/business-28142515|first=Zoe|last=Flood|publisher=BBC News|date=3 July 2014|accessdate=30 November 2014}}</ref> He is reported to be one of the wealthiest individuals in Kenya, with a personal net worth exceeding US$100&nbsp;million as of February 2014.<ref>{{cite web| url=http://www.africareview.com/Business---Finance/Meet-Kenyas-richest-25-men/-/979184/2214110/-/jdn6jlz/-/index.html|last=Ngigi| title=Meet Kenya's Richest 25|first=George|date=20 February 2014| accessdate=30 November 2014|publisher=Africa Review (Nairobi)}}</ref>

==Early life and education== Munga was born in Kangema in Kenya's Central Province in 1943. He went to Gaichanjiru high school. He received an honorary Doctor of Philosophy degree from University of Nairobi.<ref>{{cite web|title=The rise and rise and Equity Bank's founder Peter Munga|url=https://www.sde.co.ke/article/2000216434/the-rise-and-rise-and-equity-bank-s-founder-peter-munga|website=SDE}}</ref>

==Career== 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.

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 organization. EBS was losing KSh5&nbsp;million (approximately US$60,000 then) annually and had accumulated total losses of KSh33&nbsp;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.

On 31 August 2004, EBS became Equity Bank Group 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.<ref>{{cite web| url=http://www.jambonewspot.com/equity-bank-founder-peter-mungas-long-journey-to-billionaires-club/| archive-url=https://web.archive.org/web/20140111050250/http://www.jambonewspot.com/equity-bank-founder-peter-mungas-long-journey-to-billionaires-club/| url-status=usurped| archive-date=11 January 2014|title=Equity Bank Founder Peter Munga's Long Journey To Billionaires Club|date=9 December 2013|accessdate=30 November 2014| publisher=JamboNewsPot.Com}}</ref>

==Investment portfolio== Munga owned shares of stock in the publicly traded companies listed below, as of November 2014. {| class="wikitable sortable" style="margin-left:auto;margin-right:auto" |+ '''Peter Kahara Munga's Investment Portfolio''' ! style="width:2em;" |Rank !!Investment!!Percentage Shareholding!!Estimated Value (US$) |- |1 || British-American Investments Company* Held through Equity Holdings Limited || 11.9 || 65 million.<ref>{{cite web|url=http://www.businessdailyafrica.com/NSE-s-top-women-investors-wealth-up-Sh2bn-in-6-months-/-/539552/2521804/-/item/0/-/yjljye/-/index.html|title=NSE's Female Billionaires Gain KSh2 Billion in Six Months|first1=Victor|last1=Juma|first2=Evelyn|last2=Situma|date=13 November 2014|accessdate=30 November 2014|newspaper=Business Daily Africa (Nairobi)|archive-date=29 November 2014|archive-url=https://web.archive.org/web/20141129230654/http://www.businessdailyafrica.com/NSE-s-top-women-investors-wealth-up-Sh2bn-in-6-months-/-/539552/2521804/-/item/0/-/yjljye/-/index.html|url-status=dead}}</ref> |- |2 || British-American Investments Company* Held directly || 3.86 || 21 million<ref>{{cite web|format=PDF|accessdate=30 November 2014|url=http://www.britam.co.ke/site/images/downloads/ir/Britam%20Shareholders%20Circular%20-%20January%202014.pdf|date=24 January 2014|publisher=British-American Investments Company (Britam)|title=Britam Shareholders Circular of 24 January 2014, Pages 26 & 27|url-status=dead|archiveurl=https://web.archive.org/web/20140514013414/http://www.britam.co.ke/site/images/downloads/ir/Britam%20Shareholders%20Circular%20-%20January%202014.pdf|archivedate=14 May 2014}}</ref> |- |3 || British-American Investments Company* Held through Filimbi Limited || 1.66 || 9 million<ref>{{cite web|format=PDF|accessdate=30 November 2014|publisher=British-American Investments Company (Britam)|url=http://www.britam.co.ke/site/images/downloads/ir/Britam%20Shareholders%20Circular%20-%20January%202014.pdf|date=24 January 2014|title=Britam Shareholders Circular of 24 January 2014, Pages 26 & 27|url-status=dead|archiveurl=https://web.archive.org/web/20140514013414/http://www.britam.co.ke/site/images/downloads/ir/Britam%20Shareholders%20Circular%20-%20January%202014.pdf|archivedate=14 May 2014}}</ref> |- |4 || Equity Bank Group* || 0.42 || 3.0<ref>{{cite web| url=http://naibuzz.com/2014/05/23/kenyas-top-richest-ceoschairmen-executives-banking-sector/|title=Kenya's Top Richest CEOs, Chairmen And Executives in the Banking Sector: Peter Munga, Chairman of Equity Bank|date=23 May 2014|accessdate=30 November 2014|publisher=Naibuzz.Com}}</ref> |- |}

==See also== *List of African millionaires *List of wealthiest people in Kenya

==References== {{reflist}}

==External links== * [https://web.archive.org/web/20150902005559/http://www.equitybank.co.ke/ Webpage of Equity Bank Group] * [http://www.britam.co.ke/ Webpage of British-American Investments Company] * [http://www.businessdailyafrica.com/Corporate-News/Munga-follows-the-money-in-industrial-ventures/-/539550/2725060/-/item/0/-/e6ykdg/-/index.html Equity Bank Founder Follows Money In Industrial Ventures]

{{DEFAULTSORT:Munga, James}} Category:Living people Category:1943 births Category:Kenyan businesspeople Category:Kikuyu people Category:Kenyan bankers