Equity Group CEO James Mwangi has joined the South-North Commission on Development, giving the Kenyan banker a new role in coming up with solutions to global challenges.
Mr Mwangi is one of two business leaders appointed to the commission and the only African representative from the private sector.
The commission brings together leaders from business, government, international institutions, academia and civil society to rethink cooperation between developing and developed countries.
Others on the commission include World Bank president Ajay Banga, World Trade Organization boss Ngozi Okonjo-Iweala, UNDP administrator Alexander De Croo and Nobel Peace Prize laureate Denis Mukwege.
The commission was unveiled in Berlin on October 5 by its co-chairs, former German Chancellor Olaf Scholz and former Costa Rican President Laura Chinchilla.
Saying the appointment was an honour, Mr Mwangi said the commission can build develop partnerships capable of delivering practical results, adding that “Africa should no longer be seen through the lens of aid. It is a source of growth, talent, innovation and investment.”
The banker said he will share lessons Equity has learnt on “mobilising capital, backing entrepreneurs and small businesses, and making financial and economic inclusion a platform for jobs and shared prosperity.”
The South-North Commission builds on the work of the North-South Commission, which was chaired by former German Chancellor Willy Brandt from 1977.
The earlier commission sought to promote greater cooperation between developed and developing countries and highlighted the importance of global interdependence.
This will hold its first meeting in Bangkok on October 16 and 17, alongside the IMF and World Bank annual meetings.
Mr Mwangi will serve on the commission in his personal capacity and will bring more than three decades of experience in financial services and development.
A Bachelor of Commerce graduate and a Certified Public Accountant, he has received five honorary doctorate degrees to recognize his contribution to Kenyan society.
Mr Mwangi has been a guest lecturer at Stanford University, Columbia University, MIT, Harvard University, IESE and Lagos Business School.
