Equity CEO James Mwangi named in Devex Power 50 List

Equity Group CEO James Mwangi has been named to Devex’s Power 50 List 2026, which tracks individuals seen as influential in shaping global development policy and financing.

The firm said the list focuses on people influencing “policies, people and purse strings” at a time when traditional foreign aid is under strain and development efforts are increasingly turning to private capital, philanthropy and blended finance.

In a statement on Monday, the firm said the 2026 list reflects a “post-aid era” in which influence is shifting towards actors able to mobilise capital and design new delivery models for development.

Mwangi was cited for his role in expanding Equity from a Kenyan lender into a regional banking group with more than 22 million customers, as well as for advocating private sector-led growth in Africa. 

The firm also pointed to Equity’s support for small and medium-sized enterprises, its digital banking expansion and its involvement in climate-linked and digital infrastructure initiatives.

“Traditional donor funding is under pressure, and new models are emerging,” it noted, adding that private financial institutions are playing a growing role in development financing.

Speaking previously on Africa’s development path, Mwangi has argued that the continent’s future will depend less on aid and more on domestic capital and enterprise growth.

“Africa’s transformation will be driven by Africans investing in productive value chains and scalable businesses,” he has said in past public forums.

Mwangi appeared on the list alongside senior political leaders and heads of multilateral institutions, including Ghanaian President John Mahama, African Development Bank President Sidi Ould Tah, European Investment Bank President Nadia Calviño and World Bank Managing Director of Operations Anna Bjerde.

The list also features leaders from global health financing, development agencies and technology firms.

Mwangi’s inclusion comes as Kenyan banks and investors continue to expand regionally, and as Nairobi seeks to position itself as a financial and technology hub for East Africa.