Equity Group Holdings Chief Executive Officer and Group Managing Director Dr James Mwangi has been appointed to the South-North Commission on Development, placing the Kenyan banker among a high-level group of global leaders tasked with reshaping cooperation between developed and developing countries.
Mwangi is the only African business leader among the 20 commissioners appointed to the independent body, which was launched by the German government to rethink how the Global North and Global South can build more effective development partnerships.
The commission is co-chaired by former German Chancellor Olaf Scholz and former Costa Rican President Laura Chinchilla.
Its membership brings together leaders of major international institutions, former heads of government, business executives, academics, civil society leaders and development experts.
Mwangi said his appointment comes at a time when Africa needs to be viewed beyond traditional aid relationships and instead as a source of investment, innovation, talent and economic growth.
“Willy Brandt’s Commission gave the world the language of interdependence. Fifty years on, our task is to turn that language into partnerships that work,” Mwangi said.
He said he would bring to the commission lessons from Equity’s work in mobilising domestic and international capital, supporting entrepreneurs and small businesses and expanding financial and economic inclusion.
“Africa should no longer be seen through the lens of aid. It is a source of growth, talent, innovation and investment,” he said.
Among those serving alongside Mwangi are World Bank President Ajay Banga, World Trade Organization Director-General Ngozi Okonjo-Iweala, UN Development Programme Administrator Alexander De Croo and Nobel Peace Prize laureate Dr Denis Mukwege.
The majority of the commissioners are from the Global South.
Mwangi’s appointment was announced in Berlin on October 5, with the commission scheduled to hold its first meeting in Bangkok on October 16 and 17 alongside the IMF and World Bank Annual Meetings.
The body builds on the work of the original North-South Commission chaired by former German Chancellor Willy Brandt from 1977.
It is expected to issue interim findings in 2027, marking 50 years since the launch of the Brandt Commission, before presenting its final report at the end of 2028.
Its recommendations are expected to contribute to shaping the global development agenda after the 2030 Sustainable Development Goals.
Mwangi brings more than three decades of experience in banking, financial inclusion and private-sector development to the commission.
Equity currently serves 23.3 million customers across Kenya, Uganda, Tanzania, Rwanda, the Democratic Republic of Congo and South Sudan, with 98 per cent of transactions taking place outside its physical branches.
His appointment comes as Equity steps up its efforts to position private capital, local savings and financial inclusion as drivers of development across Africa.
Through its $6 billion Africa Recovery and Resilience Plan, Equity aims to reach 100 million customers and five million borrowing businesses by 2030, while connecting East African businesses and value chains to regional and international markets.
The bank is also advocating for development financing models in which public funds are used to reduce investment risks and attract domestic savings and private capital through local financial institutions.
Mwangi has also been involved in the Accra Reset initiative, which seeks to strengthen sovereign capacity and promote more equitable partnerships across the Global South.
Agriculture, climate financing, youth employment and education are also central to Equity’s development agenda.
About 30 per cent of Equity’s lending is directed to agriculture, while the group targets more than 30 per cent of its loan book in climate-aligned sectors by 2030.
Its Wings to Fly and Elimu programmes have supported more than 60,000 scholars, while in May this year, Mwangi and Equity launched a $1 billion fund targeting the development of creative industries in East and Central Africa.
The initiative is also linked to Mwangi’s work on the World Bank Jobs Council.
Mwangi will serve on the South-North Commission in his personal capacity, while Equity will continue implementing its own development initiatives.
The commission’s membership includes former South African Deputy President Phumzile Mlambo-Ngcuka, former Senegalese Prime Minister Aminata Touré, former Indonesian Finance Minister Sri Mulyani Indrawati, former Spanish Foreign Minister Arancha González Laya, former Brazilian Environment Minister Izabella Teixeira, former Uruguayan Foreign Minister Omar Paganini Herrera and former German Health Minister Hermann Gröhe.
It also includes former USAID Administrator Mark Green, International Crisis Group President Comfort Ero, Public Services International Secretary General Daniel Bertossa and representatives from academia, research and civil society.
Mexican business leader Altagracia Gómez Sierra is the other business representative alongside Mwangi.
The commission was launched by Germany’s Federal Ministry for Economic Cooperation and Development at the Hamburg Sustainability Conference in June 2026. Its commissioners will serve in an honorary capacity.
