NAIROBI, Kenya- Equity Group CEO Dr. James Mwangi has landed a significant global role, joining the World Bank Group’s High-Level Advisory Council on Jobs.
Unveiled during the 2024 World Bank-IMF Annual Meetings in Washington, D.C., the council is set to tackle one of the most pressing challenges of our time: the escalating employment crisis in emerging and developing economies.
Co-chaired by Tharman Shanmugaratnam, President of Singapore, and Michelle Bachelet, former President of Chile, the council is a powerhouse collective of global leaders from policy, business, academia, and civil society.
Its mission? To craft practical, scalable solutions for a looming job deficit that could leave 1.2 billion people in the Global South without work over the next decade.
Africa, in particular, faces an uphill battle, with its working-age population projected to balloon by 800 million individuals by 2034. Without strategic interventions, millions could be left without meaningful employment.
Dr. Mwangi’s appointment underscores the urgency of this mission. “These global demographic shifts present an unprecedented opportunity for Africa,” Mwangi said. “By leveraging the continent’s young and growing population, we could see up to 15pc GDP growth and a 17pc reduction in poverty by 2030.”
Mwangi’s inclusion on the council aligns with Equity’s Africa Recovery and Resilience Plan, an ambitious blueprint to create 50 million jobs by 2030.
Through partnerships, financial inclusion, and innovative solutions, the plan seeks to harness Africa’s youthful population to drive economic growth and stability.
This vision complements the council’s broader goal of addressing employment challenges, particularly for youth and women, who are disproportionately affected in developing economies.
Other prominent council members include Guy Ryder, UN Under Secretary General for Policy; Patrick Achi, former Prime Minister of Côte d’Ivoire; and Sebastien Bazin, CEO of Accor Group, alongside experts from top-tier institutions like Yale and the University of Chicago.
Over the next two years, the council will meet every two months, working closely with senior World Bank officials to turn recommendations into action.
The council has the task of developing tangible strategies that not only bridge the employment gap but also foster long-term resilience in affected regions.
Dr. Mwangi’s appointment is more than a nod to his leadership at Equity; it’s a testament to the bank’s commitment to driving economic transformation across Africa.
As the Global South braces for a seismic employment challenge, the World Bank’s Advisory Council on Jobs—and leaders like Dr. Mwangi—are stepping up to ensure a future where opportunity outweighs adversity.
