James Mwangi appointed to global development commission

Equity Group Chief Executive James Mwangi. [File, Standard]

Equity Group Holdings chief executive Dr James Mwangi is among 20 top global executive leaders appointed to the South-North Commission on Development, an independent body set up by the German government to restructure how the Global South and North work together.

The commissioners were announced by the Commission's chairs Olaf Scholz, former Chancellor of Germany and Laura Chinchilla, former President of Costa Rica.

Mwangi is one of two business leaders from Africa appointed to the commission. Other members include heads of the World Bank and the World Trade Organisation, the Administrator of the UN Development Programme and a Nobel Peace laureate.

They also include former senior government leaders from South Africa, Senegal, Indonesia, Spain, Brazil, Uruguay and Germany. Most of the commissioners come from the Global South.

Commenting on his appointment, Mwangi said he will be bringing to the table his expertise in mobilisation of capital.

“I am honoured to join the co-chairs and my fellow commissioners. I will bring what I have learnt from Equity on mobilising domestic and global capital, backing entrepreneurs and small businesses and making financial and economic inclusion a platform for jobs and shared prosperity,” he said.

The commission builds on the legacy of the North-South Commission chaired by Willy Brandt in 1977.

It will meet for the first time in Bangkok on October 16, alongside the International Monetary Fund and World Bank Annual Meetings.

The Commission is expected to present its interim findings in 2027 and a final report at the end of 2028. Its recommendations will inform the global development agenda that follows the UN's 2030 Sustainable Development Goals.

“Africa should no longer be seen through the lens of aid. It is a source of growth, talent, innovation and investment,” Mwangi said.

The business leader brings in 35 years of evidence that private capital and financial inclusion can deliver development at scale. Equity serves 23.3 million customers across Kenya, Uganda, Tanzania, Rwanda, the Democratic Republic of Congo and South Sudan, and 98 per cent of their transactions now happen outside a branch.

Mwangi will serve on the Commission in a personal capacity.

Additionally, Equity will continue deepening its own initiatives for Africa's development, including the Africa Recovery and Resilience Plan, its work on private-sector financing for development, the Accra Reset and the Africa Prosperity Compact.