Yara Prize highlights critical role of rural finance and improved
market access for smallholders in
Yara Prize highlights critical role of rural finance and improved market access for smallholders in Africa
(Thomson Reuters ONE) - Oslo (2009-07-21): Farmers' organization and African banker win thehighly coveted Yara Prize for their respective roles in transformingsmallholder agriculture on the continent. With the economic crisisthreatening to reverse years of progress in the fight against hungerand poverty there is an even more urgent need to boost foodproduction in Africa.This year's Prize recognizes that farmers need more than increasedaccess to inputs and higher yields - if productivity gains are to besustained we need to strengthen the entire value chain.The 2009 Yara Prize for an African Green Revolution, presentedannually by the Yara Foundation, is awarded to Peter Munga, Chairmanof Equity Bank in Kenya and the National Smallholder Farmers'Association of Malawi (NASFAM) for their transformationalcontributions to the reduction of hunger and poverty in Africa.Mr Munga is an accomplished African business leader and entrepreneurwhose dedication to the unbanked poor continues to enable millions ofsmallholder farmers access to much needed affordable savings andcredit facilities so that they can break out of the poverty cycle andbuild better lives.As the founder of Equity Bank he has seen the organization move froma small village-based building society to a fully listed commercialbank that is home to over half of all bank accounts in Kenya. EquityBank has continued to pioneer a range of innovative financingarrangements that have significantly increased farmers' access tocredit facilities including; mobile rural banking services,innovative electronic banking, post harvest warehouse receiptingschemes and widespread agro dealer financing facilities.NASFAM has been equally dynamic, bringing together farmers, providingthe necessary extension services and promoting farming as a viablebusiness among smallholder farmers - most of whom are women. NASFAM'swork has been credited with playing a key role in achieving Malawi'srecent progress. It has given farmers an effective voice in policynegotiations, built their commercial capacity, catalyzed thedevelopment of a successful agricultural commodity exchange andpromoted the use of sustainable agricultural practices."Making progress against some of the world's most ambitiousdevelopment goals starts with the smallholder farmer. Both EquityBank and NASFAM are prime examples of a locally driven value chainapproach that engages farmers directly, increases their yield andimproves access to markets", Arne Cartridge, Secretary General of theYara Foundation says. "Both of the winners of this year's Yara Prizedeserve praise and recognition for helping to innovatively strengthenagricultural value chains and increase Africa's food security."The Prize consists of a USD 100,000 endowment, a crystal trophy and adiploma to be received by each laureate. Representatives of NASFAMand Mr Munga will receive their awards on 5 September 2009 in Oslo,Norway, at an award ceremony hosted by the Yara Foundation.For further information about the Yara Prize for an African GreenRevolution or the Yara Foundation, please visit: www.yaraprize.comContactMr. Arne Cartridge, Secretary General, Yara FoundationMobile: +47 47 900 900E-mail: arne.cartridge(at)yara.comMr. Asle Skredderberget, Vice President Corporate Communications,YaraMobile: +47 41 44 36 10E-mail: asle.skredderberget(at)yara.com ###Notes to Editors:ABOUT NASFAMThe National Smallholder Farmers' Association of Malawi (NASFAM) isthe largest independent, smallholder-owned membership organization inMalawi. Through a sustainable network of smallholder-owned businessorganizations, NASFAM promotes farming as a business in order todevelop the commercial capacity of its members, and delivers programsthat enhance farmer productivity. The NASFAM concept grew out of aUSAID funded project to support and organize smallholder tobaccoproduction. Since 1995, the NASFAM focus has diversified productionto other cash and food crops. Around 80% of Malawi's populationdepends on smallholder farming for their livelihood. Like mostMalawian smallholder farmers, an average NASFAM member farms lessthan one hectare of land to support a family of six people.ABOUT PETER MUNGA, CHAIRMAN OF EQUITY BANKPeter K. Munga serves as Chairman of Equity Bank Limited and NationalOil Corporation of Kenya Limited. Mr Munga holds directorships inseveral organizations including British American (K) Insurance,Equatorial Nut Processors Limited, and Micro-Enterprise SupportProgramme Trust (MESPT). Mr Munga founded Equity Bank in 1984. Hisfirst customers were small-scale dairy coffee and tea farmers. Heencouraged the small peasant savers and borrowers to support thefinancial institution by enrolling them into the bank from where theywere paid for their crops without being subjected to punitivecharges. Under the leadership of Mr Munga, Equity evolved from aBuilding Society, to a Microfinance Institution to now theall-inclusive Nairobi Stock Exchange public listed Commercial Bank.THE YARA PRIZE AND YARA FOUNDATIONThe Yara Prize is awarded by the Yara Foundation for an African GreenRevolution, established in 2005 by Yara International. The objectiveof the Foundation is to support former UN Secretary-General KofiAnnan's call for an African green revolution and the UN MillenniumProject's goal of halving poverty and hunger in Africa by 2015.The Board of the Yara Foundation, also serving as jury of the YaraPrize, in 2009 consists of:* Dr. Thorleif Enger, Former CEO of Yara International ASA, Oslo, Norway (chairman)* Abenaa Akuamoa-Boateng is the head of nutrition, Ministry of Health, Kumasi, Ghana.* Peter Hartmann is the director general of the International Institute of Tropical Agriculture (IITA), Ibadan, Nigeria.* Pedro Sanchez is the director of tropical agriculture at The Earth Institute at Columbia University, New York, USA.* Susan E. Whelan is a lawyer, and a former Canadian government minister for international cooperation, Toronto, Canada.YARA INTERNATIONAL ASAYara International ASA is the world's leading chemical company thatconverts energy, natural minerals and nitrogen from the air intoessential products for farmers and industrial consumers. As thenumber one global supplier of mineral fertilizers we help providefood for a growing population. Yara's global workforce of 8,000employees represents the great diversity and knowledge that enablesYara to remain a leading performer in the industry. It is the onlyinternational fertilizer producer with a significant presence inAfrica.This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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Datum: 21.07.2009 - 10:03 Uhr
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