Equity Group Holdings Group Managing Director and CEO Dr James Mwangi has been appointed to the South-North Commission on Development, an international body tasked with rethinking how the Global North and South work together on development.
Mwangi is among 20 commissioners unveiled in Berlin on October 5 by the commission’s co-chairs, former German Chancellor Olaf Scholz and former Costa Rican President Laura Chinchilla.
He is one of two business leaders on the commission and the only member from Africa. The commission also includes World Bank President Ajay Banga, World Trade Organisation Director-General Dr Ngozi Okonjo-Iweala, UN Development Programme Administrator Alexander De Croo and Nobel Peace Prize laureate Dr Denis Mukwege.
The membership brings together former government leaders, academics, civil society representatives and business executives, with a majority of commissioners drawn from the Global South.
Mwangi said his focus would be on moving development partnerships beyond the traditional aid model and towards investment and economic opportunities.
“Fifty years on, our task is to turn that language into partnerships that work. Africa should no longer be seen through the lens of aid. It is a source of growth, talent, innovation and investment,” he said.
He added that he would bring to the commission Equity’s experience in mobilising domestic and international capital, supporting entrepreneurs and small businesses, and expanding financial inclusion.
The commission builds on the legacy of the North-South Commission chaired by former German Chancellor Willy Brandt from 1977. Its work comes as developing countries face growing financing needs and increasing pressure to mobilise private capital for development.
The commission will hold its first meeting in Bangkok on October 16 and 17 alongside the IMF and World Bank Annual Meetings. It will issue interim findings in 2027 and publish its final report by the end of 2028.
Its recommendations are expected to contribute to the global development agenda following the UN Sustainable Development Goals, which run to 2030.
Mwangi brings experience from Equity’s operations across Kenya, Uganda, Tanzania, Rwanda, the Democratic Republic of Congo and South Sudan. The group serves 23.3 million customers, with 98 per cent of transactions now taking place outside its branches.
Equity is also pursuing a $6 billion Africa Recovery and Resilience Plan aimed at reaching 100 million customers and five million borrowing businesses by 2030.
The group says about 30 per cent of its lending goes to agriculture and is targeting more than 30 per cent of its loan book in climate-aligned sectors by 2030.
Mwangi will serve on the commission in his personal capacity, while Equity continues its initiatives around private-sector financing, agriculture, climate, youth employment and African entrepreneurship.
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