Equity Group CEO Dr. James Mwangi has been appointed to the World Bank Group High-Level Advisory Council on Jobs, a milestone in his storied career. The council, comprising 14 influential policymakers, business leaders, academics, and civil society pioneers, aims to tackle one of the world’s most pressing challenges: job creation.

Launched during the 2024 World Bank Group-IMF Annual Meeting in Washington, DC, this initiative seeks to address poverty, foster prosperity, and enhance human dignity through meaningful employment opportunities.

Over the next decade, an estimated 1.2 billion individuals in the Global South will reach working age. Yet, projections show only 420 million job opportunities, leaving 800 million young people and women at risk of unemployment. This demographic pressure underscores the urgency of creating sustainable employment pathways, a central focus of the council.

“Having a job is not just a means of livelihood; it is a cornerstone of dignity and self-sufficiency,” remarked Ajay Banga, President of the World Bank Group. Co-chaired by Tharman Shanmugaratnam, President of Singapore, and Michelle Bachelet, Former President of Chile, the council is dedicated to actionable and scalable solutions.

Commitment to societal transformation

Dr. Mwangi’s appointment is a testament to his visionary leadership and unwavering commitment to societal transformation. As the CEO of Equity Group Holdings, he has driven financial inclusion and spearheaded initiatives such as the Africa Recovery and Resilience Plan, which aims to create 50 million jobs in the region by 2030.

“The world is on the cusp of a demographic shift, with Africa at its center. One in four people will be African, and more than a third of the world’s youth will reside on the continent,” Dr. Mwangi noted. “This is a unique opportunity to harness the demographic dividend for economic growth and poverty reduction.”

Dr. Mwangi joins an esteemed group of council members, including luminaries such as Guy Ryder, UN Under-Secretary-General for Policy; Nonkululeko Nyembezi, Chairman of Standard Bank Group; and Preetha Reddy, Executive Vice President of Apollo Hospitals Enterprise. This diverse assembly brings deep expertise to address global employment challenges.

The council will convene bi-monthly for two years, directly engaging with World Bank senior management to translate ideas into impactful policies and programs.

Equity’s towering presence

Under Dr. Mwangi’s leadership, Equity Group has evolved into one of Africa’s strongest banking brands. His innovative approaches have garnered numerous accolades, including being named the 2012 Ernst & Young World Entrepreneur of the Year. Dr. Mwangi’s influence extends beyond banking, with active roles in global initiatives on food security, education, and health.

By sharing insights from Equity’s transformative strategies, Dr. Mwangi aims to contribute to the council’s mission in abig way. “Young people are our future and the key to sustainable development for the continent,” he said.

Dr. Mwangi’s involvement in the High-Level Advisory Council on Jobs could signal hope in addressing one of the most critical global challenges. As nations grapple with rising unemployment and underemployment, particularly among youth and women, his leadership offers a beacon of actionable change.