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March 18, 2018

Equity boss appointed member of IFC Economic Advisory Board

Former Equity Bank CEO James Mwangi./FILE
Former Equity Bank CEO James Mwangi./FILE

Equity Group's CEO James Mwangi has been appointed economic advisor to World Bank's IFC board.

The financial wing of World Bank offers investment, advisory, and asset-management services to encourage private-sector development in developing countries.

“We believe you can add significant value to how we execute our mission,” and further states that the new IFC Strategy 3.0 “puts a premium on sound economic and strategic advice,” the invitation letter by IFC vice president Hans Peter Lankes reads in part. The career banker with a bias in inclusive finance, is a certified retail banker and is an honorary member of the International Academy of Retail Banking. New York Times once described Mwangi as a celebrated representative of the new African entrepreneurial class who now define the continent, and has demonstrated that democratic capitalism really can serve the masses.

“That we are now recognised among global giants in innovation and subject of study in sustainable models of growth and success in global universities is humbling,” said Mwangi in a statement.

He is expected to attend the first meeting in April 2018 to discuss the impact of disruptive technology and ways to accelerate market creation.

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