Equity Bank's CEO James Mwangi beats Nestlé Nigeria's CEO in CEO of the Year Award

Equity Bank Chief Executive James Mwangi has won the African CEO of the Year Award, beating out Maurico Alarcon, the former CEO of Nestlé Nigeria Plc, according to a news report by The Standard.

In the awards sponsored by the African Leadership Magazine, Safaricom was voted the African Company of the Year, coming ahead of Nestlé Nigeria, Standard Bank Group, and First National Bank South Africa. 

Nakuru Governor Lee Kinyanjui (pictured) and KenGen Chief Executive Rebecca Miano were among the other African leaders declared winners in the 17 categories of the African Business Leadership Award for this year.  

The winners will be recognized at the fifth US–Africa Investment Forum and Policy Dialogue on September 29. 

Kinyanjui won the Business-Friendly Governor of the Year Category, while Miano bagged the African Inspirational Business Leadership Award category.

Online voting was responsible for 65 percent of the results while supporting evidence contributed 35 percent in the final selection process for the 2020 winners.

According to the editorial board of the magazine, the 2020 edition of the awards recognizes business leaders, visionaries, and innovators who shape African economies and drive businesses that are making outstanding contributions.