Equity Group Holdings Chief Executive Officer Dr James Mwangi has been appointed to the South-North Commission on Development, a global body established to explore new approaches to cooperation between countries in the Global South and Global North. The independent commission was launched in Berlin on October 5 by its co-chairs, former German Chancellor Olaf Scholz and former Costa Rican President Laura Chinchilla.
Mwangi is among the commission’s members drawn from government, business, academia and civil society. He is one of only two private-sector representatives and the sole African business leader appointed to the commission. He joins other prominent global figures, including 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 Denis Mukwege.
A majority of the commissioners come from the Global South, highlighting the commission’s intention to give developing countries a stronger voice in shaping the future of international development cooperation.
Mwangi Calls for New Approach to Africa’s Development
Commenting on his appointment, Mwangi said the commission provides an opportunity to rethink the traditional relationship between developed and developing countries. He argued that Africa should increasingly be viewed as a source of investment, innovation, talent and economic growth rather than primarily as a recipient of development aid.
Mwangi said he would bring to the commission lessons from Equity’s experience in mobilising capital, supporting entrepreneurs and small businesses and expanding financial and economic inclusion. He said these approaches could help create employment opportunities and promote more inclusive economic growth across developing economies.
Commission Builds on Brandt Commission Legacy
The South-North Commission draws inspiration from the North-South Commission, which was chaired by former German Chancellor Willy Brandt. Established in 1977, the Brandt Commission examined ways of strengthening cooperation between developed and developing countries and addressing inequalities in the global economic system. The new commission seeks to build on that legacy while responding to current challenges affecting international development and cooperation.
Its first meeting is scheduled to take place in Bangkok on October 16 and 17, alongside the IMF and World Bank Annual Meetings. The commission is expected to release interim findings in 2027, marking 50 years since the Brandt Commission began its work. Its final report is expected at the end of 2028. The recommendations are expected to inform discussions on the future of international development beyond the 2030 Sustainable Development Goals.
Mwangi Brings Three Decades of Experience
Mwangi joins the commission with more than 30 years of experience in financial services and economic development. Under his leadership, Equity has expanded its presence beyond Kenya into Uganda, Tanzania, Rwanda, the Democratic Republic of Congo and South Sudan. The financial services group currently serves more than 23 million customers across its markets. Mwangi will participate in the commission in his personal capacity, bringing his experience in banking, entrepreneurship, financial inclusion and private-sector development.
Equity’s Africa Recovery Programme
His appointment comes as Equity continues to promote private-sector investment and financial inclusion as important drivers of Africa’s economic transformation. Among the group’s initiatives is the Africa Recovery and Resilience Plan, a $6 billion programme targeting 100 million customers and five million borrowing businesses by 2030. The initiative also seeks to connect businesses and producers to regional and international value chains, with the aim of expanding access to markets, capital and economic opportunities.
Global Leaders on the Commission
The South-North Commission brings together leaders from different sectors and regions. Its members include 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 and former Brazilian Environment Minister Izabella Teixeira.
Mexican business leader Altagracia Gómez Sierra is the second private-sector representative alongside Mwangi. The commission’s composition is intended to bring together perspectives from governments, international institutions, businesses, academia and civil society as it develops proposals for a new model of global development cooperation.
