African leaders urged to speed up viable growth through bold leadership

Zanzibar. African leaders have been urged to embrace transformative leadership, innovation and strategic partnerships to accelerate sustainable economic growth and strengthen the resilience of institutions across the continent.

The call was made by Equity Group managing director and CEO, James Mwangi, during the Zanzibar Chairpersons and CEOs Forum, which brought together senior government officials, financiers, corporate executives and development partners to discuss regional collaboration, investment opportunities and economic growth.

Speaking during the session officiated by Zanzibar President Hussein Ali Mwinyi, Dr Mwangi said Africa was well positioned to benefit from ongoing shifts in the global economic order due to its youthful population, renewable energy resources, strategic minerals and expanding trade opportunities.

He said African countries needed to position themselves strategically to shape future global economies.

“The current global economic framework is undergoing a major reset, and regions that position themselves strategically today will shape the economies of the future,” said Dr Mwangi.

He noted that Zanzibar was uniquely positioned to emerge as a regional logistics, trade, energy and investment hub linking Africa with emerging economic centres such as India and China.

Drawing comparisons with Singapore’s role in Southeast Asia, Dr Mwangi said Zanzibar had the potential to anchor regional trade and logistics ecosystems if supported by long-term investment and strategic planning.

During his keynote address, Dr Mwangi shared the transformation journey of Equity Group Holdings into one of Africa’s leading diversified financial services institutions serving more than 23 million customers across East and Central Africa.

He said innovation, inclusion, sustainability and technology were central to building resilient institutions capable of creating long-term value.

According to him, businesses that would remain competitive in the future were those capable of combining innovation with inclusive growth and strong partnerships.

“Leadership today requires courage to disrupt traditional models, speed in execution, and commitment to creating shared prosperity,” he said.

Dr Mwangi also highlighted the group’s inclusive finance model, which expanded access to banking services by simplifying account opening procedures, removing minimum balance requirements and using technology to reach underserved communities.

He reaffirmed the institution’s commitment to the “triple bottom line” approach, which balances profitability with social impact and environmental sustainability.