Equity’s Mwangi joins 14 top global CEOs in inclusive economy goal

Equity Group chief executive James Mwangi. FILE PHOTO | NMG

By BRIAN NGUGI
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Summary

• The executives have proposed a roadmap to “build the economic system better,” after Covid-19.
• The roadmap urges governments, corporates and the UN system to create new policies and incentives to spur "sustainable and inclusive economic growth."

Equity Group chief executive James Mwangi has joined a league of 14 global CEOs who have committed to back the creation of a more "inclusive economy" amid the Covid 19 pandemic.

The executives have proposed a roadmap to “build the economic system better,” after Covid-19.

The roadmap urges governments, corporates and the UN system to create new policies and incentives to spur "sustainable and inclusive economic growth."

“The current state of the world economy, as evidenced by the inequality revealed by the Covid-19 pandemic, has left business leaders with only one choice; the choice to recognize that the world system only works for a few and not the majority of the world's population," said Mr Mwangi after signing the letter.

Dr Mwangi joined the CEOs of Mastercard, Fortune Media, Mahindra, Interface, Voyager, Danone, DSM, Philips, L’Oréal, International Chamber of Commerce, Ketchum PR, Natura & Co. and Beiersdorf in calling on businesses, governments and development actors to join them in accelerating the transition towards an "inclusive, resilient, sustainable economy."

“Rather than ’build it back’, we are choosing to ’build it better’,” said the joint signatories in the commitment letter.

The 14 leaders represent firms comprising a combined annual revenue of over $100 billion and a combined global workforce of over 500,000.

"We are honored that Equity’s business model of inclusion, high volume, low margin and a purpose of transforming lives, giving dignity and expanding opportunities for wealth creation is well aligned with the call for a purpose-first economy," Mr Mwangi said.