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Equity CEO James Mwangi Joins World Bank Jobs Advisory Council
As a member of the High-Level Advisory Council on Jobs, Dr.James Mwangi will be instrumental in shaping strategies to tackle unemployment and navigate the complexities of a rapidly changing global labor market.
:Equity Group CEO James Mwangi appointed to World Bank’s High-Level Advisory Council on Jobs, co-chaired by Singapore’s President Halimah Yacob.
Dr James Mwangi, CEO and Managing Director of Equity Group Holdings, has been appointed to the prestigious World Bank High-Level Advisory Council on Jobs, solidifying his reputation as a transformative leader in finance and development.
The announcement, made on December 3, 2024, places Dr. Mwangi among an elite group of global thought leaders tasked with addressing the pressing issue of job creation and employment sustainability.
THE HIGH-LEVEL ADVISORY COUNCIL ON JOBS: LEADERSHIP AND ROLE
Singaporean President Halimah Yacob and Axel van Trotsenburg, Senior Managing Director of the World Bank co-chair the council.
It brings together a diverse array of leaders from politics, business, and academia to advise the World Bank on strategies to tackle unemployment and create meaningful, inclusive job opportunities globally.
Key members of the council include:
- Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF)
- Ngozi Okonjo-Iweala, Director-General of the World Trade Organization (WTO)
- Ban Ki-moon, former UN Secretary-General and SDG advocate
- Ajay Banga, President of the World Bank Group
The council’s role is to guide on enhancing labour market policies, fostering private sector innovation, and identifying emerging trends that will shape the future of work. Its focus spans youth unemployment, digital transformation, and policies to support small and medium enterprises (SMEs).
Dr. MWANGI’S VISION AND EXPERTISE
Dr Mwangi’s appointment comes as no surprise, given his track record of fostering financial inclusion and economic empowerment in Africa.
Under his leadership, Equity Group has transformed from a microfinance lender to East Africa’s largest banking institution by asset size, serving over 18 million customers across six countries.
Speaking on his appointment, Dr. Mwangi stated:
“Jobs are the cornerstone of economic empowerment and social stability. I am honoured to join this council and contribute to global efforts to create sustainable employment opportunities. Equity’s model has shown that empowering communities through inclusive financial systems drives job creation and economic resilience.”
EQUITY GROUP’S CONTRIBUTIONS TO JOB CREATION
Equity Group has been instrumental in driving employment and economic growth through initiatives like:
- The Young Africa Works partnership with the Mastercard Foundation targets over 5 million jobs across the continent.
- The Equity Leaders Program equips young scholars with skills for the labour market.
- Support for SMEs through affordable credit and capacity-building programs.
GLOBAL RECOGNITION OF AFRICAN LEADERSHIP
President Halimah Yacob lauded Dr Mwangi’s appointment, noting:
“Dr. Mwangi’s leadership in Africa’s financial sector demonstrates how innovative solutions can create inclusive economies. His insights will enrich the council’s efforts to address unemployment on a global scale.”
Axel van Trotsenburg echoed this sentiment:
“Jobs are central to the World Bank’s mission of poverty reduction and shared prosperity. Leaders like James Mwangi bring invaluable experience from regions with unique challenges and opportunities.”
THE COUNCIL’S GLOBAL MISSION
As part of the High-Level Advisory Council on Jobs, Dr Mwangi will play a critical role in shaping policies to reduce unemployment and address the challenges of a rapidly evolving global labour market.
From advocating for investments in digital skills to fostering public-private partnerships, his expertise will help align the World Bank’s job creation strategies with the needs of developing economies.
LOOKING AHEAD
Dr Mwangi’s inclusion in this influential council is a testament to the growing recognition of African leadership on the global stage.
His vision for financial inclusion and job creation resonates not only with Kenya’s developmental goals but also with the global mandate to foster equitable growth.
This milestone underscores Kenya’s emerging role in shaping international economic policies, further cementing its reputation as a hub for innovation and progress.