&w=64&q=75)
Dr. James Mwangi, Group Managing Director and CEO of Equity Group Holdings has been appointed to the World Bank Group’s newly established High-Level Advisory Council on Jobs.
The council, launched during the 2024 World Bank Group-IMF Annual Meetings in October, aims to address the global challenges of job creation, particularly for youth and women in emerging and developing economies.
The Council will be co-chaired by Tharman Shanmugaratnam, President of Singapore, and Michelle Bachelet, former President of Chile.
It brings together 14 global leaders, including policymakers, business executives, and academics, to provide strategic recommendations to tackle unemployment and foster sustainable economic growth.
Global employment statistics
The initiative comes as the world faces a demographic shift, with 1.2 billion people in the Global South expected to reach working age within the next decade.
Alarmingly, only 420 million jobs are projected to be available, leaving nearly 800 million young people without employment opportunities.
Speaking on his appointment, Dr. Mwangi emphasised the critical role of job creation in driving economic transformation in Africa.
I'm honoured to have been asked to serve on the World Bank Global Jobs Council, in order to support the creation of jobs for the young people of Africa.
Dr. Mwangi also highlighted Equity Group’s Africa Recovery and Resilience Plan, which aims to create 50 million jobs across the region by 2030.
Bi-monthly meetings
The Council, which will convene bi-monthly over the next two years, will interact closely with senior World Bank management to ensure the scalability of its recommendations.
Dr. Mwangi’s appointment reflects his decades-long commitment to inclusive finance and economic empowerment.
Under his leadership, Equity Group has transformed into a financial powerhouse, serving over 22 million customers with a market capitalisation of $1.4 billion.
Recognised globally for his visionary approach, Dr. Mwangi has earned accolades including the Ernst & Young World Entrepreneur of the Year in 2012 and a place on the Bloomberg 50 list in 2019.
The Council's work is expected to address structural barriers to employment and provide scalable solutions for economic inclusion, underscoring the World Bank’s commitment to combating poverty through job creation.
Other members of the council
Guy Ryder - Under Secretary General for Policy at the United Nations
Patrick Achi - Former Prime Minister of Côte d'Ivoire
Sebastien Bazin - Group Chairman and CEO of Accor Group
Nonkululeko Nyembezi - Chairman of Standard Bank Group
Preetha Reddy - Executive Vice President of Apollo Hospitals Enterprise Limited
Mostafa Terrab - Chairman and CEO of OCP Group
Marianne Bertrand - Distinguished Professor of Economics at the University of Chicago Booth School of Business
Madhav Chavan - Co-founder and President of Pratham, one of India's largest education organizations
Marcela Eslava - Professor of Economics at Universidad de Los Andes, Bogota, Colombia
Fang Cai - Chief Expert at the National Think Tank at the Chinese Academy of Social Sciences
Nicola Galombik - Head of Yellowwoods Group
Roxana Maurizio - Researcher and professor at the University of Buenos Aires Institute of Economics
Denis Minev - Angel investor in Amazon projects
Rohini Pande - Henry J. Heinz II Professor of Economics and Director of the Economic Growth Center at Yale University