Dr. James Mwangi, Managing Director & CEO of Equity Group, participated in a dialogue on the state of tertiary education in Africa during the Africa Development Bank (AfDB) 2024 Annual Meeting in Nairobi, focusing on potential collaborations between Africa’s private sector and tertiary institutions to improve the quality of human capital across the continent.
Dr. Mwangi highlighted Equity’s dedication to the education sector through its various education and leadership development initiatives. Equity has provided scholarships to 60,009 beneficiaries to date in partnership with the Kenyan government, Mastercard Foundation, and German Government through KfW, USAID, UKAID, World Bank, and other partners including individual benefactors. This initiative underscores the commitment to nurturing human resource development and empowering Africa’s youth. Furthermore, the Equity Leaders Program (ELP), has enabled an additional 23,000 students to pursue tertiary education, including those attending Ivy League schools in the US.
The Group through Equity Group Foundation (EGF) has supported Equity Leaders Program (ELP) students who pursued medicine, helping them establish Equity Afia Medical centers. These centers have expanded access to affordable, quality healthcare. Currently, Equity Afia operates 109 clinics in Kenya and plans to extend its franchise to the Democratic Republic of Congo and Tanzania this year.
To address various socio-economic challenges facing the continent, EGF has established a network for ELP alumni in the enterprise and innovation sectors, assisting them in setting up and expanding their businesses.
In 2022, Equity Group launched the Africa Recovery and Resilience Plan (ARRP). This innovative initiative leverages private-sector resources in East and Central Africa to address global challenges, stimulate Africa’s economic recovery, create job opportunities for the youth, and enhance market access for local producers. Equity’s investment in scholarships is a strategic step towards nurturing the human capital necessary for the continent’s socio-economic transformation under the ARRP.
The panel discussion included former Tanzanian President Jakaya Kikwete, AfDB Vice President Beth Dunford, and Prof. Mohamed Belhocine, the African Union Commissioner for Education, Science, Technology, and Innovation. Jakaya Kikwete, who also chairs the Global Partnership for Education, called for a renewed commitment to increase national education expenditure to harness Africa’s demographic potential as the world’s largest future labor force.
