Equity Group CEO and Managing Director James Mwangi has joined a new international commission tasked with reshaping cooperation between wealthy and developing countries, bringing an African business perspective to efforts to rethink global development partnerships.
Mwangi is among 20 commissioners appointed to the South-North Commission on Development, which was unveiled in Berlin on October 5, 2026, by its co-chairs, former German Chancellor Olaf Scholz and former Costa Rican President Laura Chinchilla.
According to Equity Group, Mwangi is one of only two business representatives on the commission and the only African business leader on the panel.
The commission brings together political leaders, development specialists, academics, civil society representatives and business leaders, with most of its members coming from the Global South.
Other commissioners include World Bank President Ajay Banga, World Trade Organization Director-General Ngozi Okonjo-Iweala, United Nations Development Programme Administrator Alexander De Croo and Nobel Peace Prize winner Denis Mukwege.
Germany established the commission in June 2026 through its Federal Ministry for Economic Cooperation and Development to develop proposals for a new approach to development cooperation in an increasingly multipolar world.
The body is expected to explore new ways for countries to work together and make recommendations that can help shape the global development agenda after 2030.
Its work will include developing new partnership models and contributing ideas to the global development framework that will follow the United Nations Sustainable Development Goals, whose implementation period ends in 2030.
Mwangi said the commission offered an opportunity to move away from old approaches to development cooperation and build partnerships based on shared interests and opportunities.
“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. Africa should no longer be seen through the lens of aid. It is a source of growth, talent, innovation and investment,” he said.
He said his contribution to the commission would be informed by Equity’s experience in raising capital, supporting entrepreneurs and small businesses and widening access to financial services.
“I am honoured to join the Co-Chairs and my fellow Commissioners. I will bring what Equity has learned about mobilising domestic and global capital, backing entrepreneurs and small businesses, and making financial and economic inclusion a platform for jobs and shared prosperity,” Mwangi stated.
The commission will hold its first meeting in Bangkok, Thailand, on October 16 and 17, 2026, alongside the annual meetings of the International Monetary Fund and the World Bank.
The German government expects the commission to develop proposals aimed at strengthening international partnerships and finding new ways to respond to major global challenges.
The body is expected to release interim findings in 2027 before presenting its final report by the end of 2028.
Its recommendations are expected to feed into discussions on the international development framework that will succeed the Sustainable Development Goals after 2030.
Mwangi joins the commission with more than 30 years of experience in financial services and economic inclusion.
His appointment comes as Equity Group expands its role in financial inclusion and economic development across Africa.
The group reported total assets of Sh1.97 trillion at the end of 2025 and 22.4 million customer accounts. More than 98 per cent of customer transactions were conducted outside its branches, while digital channels handled 88.4 per cent of transactions.
Equity also reported a 55 per cent rise in profit after tax to Sh75.5 billion in 2025.
By June 2026, the group’s total assets had grown to about US$16.68 billion, with operations in Kenya, Uganda, Tanzania, Rwanda, the Democratic Republic of Congo and South Sudan.
Financial inclusion has been placed at the centre of Equity’s wider development strategy in Africa, including through its Africa Recovery and Resilience Plan.
The initiative aims to reach 100 million customers and five million borrowing businesses by 2030, according to the group.
Equity has also identified agriculture, climate finance, youth development and job creation as key areas of focus.
About 30 per cent of the group’s lending goes to agriculture, while it plans to increase the share of its loan book directed to climate-aligned sectors to more than 30 per cent by 2030.
Mwangi will serve on the South-North Commission in his personal capacity while continuing in his role as head of Equity Group.
His appointment gives the commission a private-sector perspective from Africa as it examines how development partnerships can adapt to changing economic conditions and build stronger ties between countries in the Global North and South.