…as a necessary partner for global economic sustainability.
Nairobi, 22nd May 2025… The African narrative should be written not just as the next frontier, but a necessary partner for global economic sustainability.
Equity Group Holdings Managing Director and CEO, Dr. James Mwangi, implored visiting Harvard students to be advocates for Africa in their respective countries, to rewrite the narrative saying: “With 27% of the world’s population by 2050, and most of its natural resources, the world cannot grow without Africa.”
He was speaking Master of Business Administration, MBA scholars from Harvard Business School who visited Equity Head Office in Nairobi for engagement on ‘Linking Global Academia With Enterprise’.
The students, led by Professor Hakeem Belo-Osagie, a member of the Harvard University Global Advisory Board, were on a study tour in Kenya exploring African-led development models and private sector impact.
The highlight of the visit was a thought-provoking panel discussion between Dr. Mwangi and Prof. Belo-Osagie, who is also the Chairman of Etisalat Nigeria. The two captains of industry reflected on their disruptive leadership journeys, the future of banking in Africa, and the broader role of business in shaping inclusive growth.
Prof. Belo-Osagie drew parallels between their careers, acknowledging Dr. Mwangi’s transformation of Equity from a struggling rural building society to the largest financial institution in Eastern and Central Africa, with a balance sheet of over US$15 billion.
“We both began as outsiders, coming into industries we were told we had no place in; but perseverance and purpose redefined the rules,” said the professor.
“We were not just building a bank; we were building dignity. Our mission has always been to democratize access to finance and empower the underserved,” said Dr Mwangi, who is also the Executive Chairman of Equity Group Foundation. He illustrated how Equity’s success is rooted in a mission-led model focused on socio-economic transformation. “We measure success not by profits alone, but by impact: how many lives have been changed, how many youth empowered, how many small businesses unlocked,” he said.
Dr Mwangi further discussed how technology deployed equitably holds the key to closing Africa’s productivity gap. “Artificial Intelligence, data analytics, and digital infrastructure must become tools of inclusion, not exclusion.”
The scholars engaged Dr. Mwangi on subjects ranging from ethical leadership and sustainability to digital disruption and fraud prevention. Asked about fraud incidents, Dr. Mwangi was forthright:
“No institution is immune to challenges. Integrity lies in how we respond, adapt and fortify our systems,” he said, reaffirming the Equity’s investments in cybersecurity, AI-driven risk systems, and customer education to mitigate threats in a rapidly digitizing environment.
“Equity is one of the most compelling examples of how purpose, resilience, and vision can rewrite Africa’s narrative,” said Prof. Belo-Osagie in reflection of the proposed advocacy journey for Africa as the continent that will shape a sustainable world.
The Harvard scholars follow the discussion between Harvard University Global Advisory Board, Professor Hakeem Belo-Osagie, and Equity Group Holdings Managing Director and CEO, Dr. James Mwangi, during the visit at the Equity Head Office at Equity Centre, Nairobi
Equity Group Managing Director and CEO, Dr. James Mwangi, emphasizes a key point as he engages in the thought-provoking dialogue.
Prof. Hakeem Belo-Osagie moderated the session and posed insightful questions to guide the conversation, prompting deeper reflections and responses.
The Harvard Business School (HBS) scholars follow the conversation, noting down new insights applicable for their studies.
Harvard Business School MBA scholar Manuel Pereira-Arias poses a thoughtful question, contributing to the dynamic exchange of ideas and seeking deeper insights from the panel discussion.
Harvard Business School’s, MBA scholar Teresa Dilan engages the panel.
Harvard Business School, MBA Malek Debbas, engaging the panel during the interactive study session.
Prof. Hakeem Belo-Osagie (front row, 7th left) and Equity Group Managing Director and CEO Dr. James Mwangi (front row, 6th right) with the 70 MBA students at forecourt steps of Equity Group Holdings Plc Head Office at Upper Hill, Nairobi.