Oslo (2009-07-21): Farmers' organization and African banker win the
highly coveted Yara Prize for their respective roles in transforming
smallholder agriculture on the continent. With the economic crisis
threatening to reverse years of progress in the fight against hunger
and poverty there is an even more urgent need to boost food
production in Africa.

This year's Prize recognizes that farmers need more than increased
access to inputs and higher yields - if productivity gains are to be
sustained we need to strengthen the entire value chain.

The 2009 Yara Prize for an African Green Revolution, presented
annually by the Yara Foundation, is awarded to Peter Munga, Chairman
of Equity Bank in Kenya and the National Smallholder Farmers'
Association of Malawi (NASFAM) for their transformational
contributions to the reduction of hunger and poverty in Africa.

Mr Munga is an accomplished African business leader and entrepreneur
whose dedication to the unbanked poor continues to enable millions of
smallholder farmers access to much needed affordable savings and
credit facilities so that they can break out of the poverty cycle and
build better lives.

As the founder of Equity Bank he has seen the organization move from
a small village-based building society to a fully listed commercial
bank that is home to over half of all bank accounts in Kenya. Equity
Bank has continued to pioneer a range of innovative financing
arrangements that have significantly increased farmers' access to
credit facilities including; mobile rural banking services,
innovative electronic banking, post harvest warehouse receipting
schemes and widespread agro dealer financing facilities.

NASFAM has been equally dynamic, bringing together farmers, providing
the necessary extension services and promoting farming as a viable
business among smallholder farmers - most of whom are women. NASFAM's
work has been credited with playing a key role in achieving Malawi's
recent progress. It has given farmers an effective voice in policy
negotiations, built their commercial capacity, catalyzed the
development of a successful agricultural commodity exchange and
promoted the use of sustainable agricultural practices.

"Making progress against some of the world's most ambitious
development goals starts with the smallholder farmer. Both Equity
Bank and NASFAM are prime examples of a locally driven value chain
approach that engages farmers directly, increases their yield and
improves access to markets", Arne Cartridge, Secretary General of the
Yara Foundation says. "Both of the winners of this year's Yara Prize
deserve praise and recognition for helping to innovatively strengthen
agricultural value chains and increase Africa's food security."

The Prize consists of a USD 100,000 endowment, a crystal trophy and a
diploma to be received by each laureate.  Representatives of NASFAM
and 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 Green
Revolution or the Yara Foundation, please visit: www.yaraprize.com


Contact

Mr. Arne Cartridge, Secretary General, Yara Foundation
Mobile: +47 47 900 900
E-mail: arne.cartridge@yara.com

Mr. Asle Skredderberget, Vice President Corporate Communications,
Yara
Mobile: +47 41 44 36 10
E-mail: asle.skredderberget@yara.com

                                 ###

Notes to Editors:

ABOUT NASFAM
The National Smallholder Farmers' Association of Malawi (NASFAM) is
the largest independent, smallholder-owned membership organization in
Malawi. Through a sustainable network of smallholder-owned business
organizations, NASFAM promotes farming as a business in order to
develop the commercial capacity of its members, and delivers programs
that enhance farmer productivity. The NASFAM concept grew out of a
USAID funded project to support and organize smallholder tobacco
production. Since 1995, the NASFAM focus has diversified production
to other cash and food crops. Around 80% of Malawi's population
depends on smallholder farming for their livelihood. Like most
Malawian smallholder farmers, an average NASFAM member farms less
than one hectare of land to support a family of six people.

ABOUT PETER MUNGA, CHAIRMAN OF EQUITY BANK
Peter K. Munga serves as Chairman of Equity Bank Limited and National
Oil Corporation of Kenya Limited. Mr Munga holds directorships in
several organizations including British American (K) Insurance,
Equatorial Nut Processors Limited, and Micro-Enterprise Support
Programme Trust (MESPT). Mr Munga founded Equity Bank in 1984. His
first customers were small-scale dairy coffee and tea farmers. He
encouraged the small peasant savers and borrowers to support the
financial institution by enrolling them into the bank from where they
were paid for their crops without being subjected to punitive
charges. Under the leadership of Mr Munga, Equity evolved from a
Building Society, to a Microfinance Institution to now the
all-inclusive Nairobi Stock Exchange public listed Commercial Bank.

THE YARA PRIZE AND YARA FOUNDATION
The Yara Prize is awarded by the Yara Foundation for an African Green
Revolution, established in 2005 by Yara International. The objective
of the Foundation is to support former UN Secretary-General Kofi
Annan's call for an African green revolution and the UN Millennium
Project's goal of halving poverty and hunger in Africa by 2015.

The Board of the Yara Foundation, also serving as jury of the Yara
Prize, 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 ASA
Yara International ASA is the world's leading chemical company that
converts energy, natural minerals and nitrogen from the air into
essential products for farmers and industrial consumers. As the
number one global supplier of mineral fertilizers we help provide
food for a growing population. Yara's global workforce of 8,000
employees represents the great diversity and knowledge that enables
Yara to remain a leading performer in the industry. It is the only
international fertilizer producer with a significant presence in
Africa.


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