Equity Group Chief Executive James Mwangi has received the ancient honour of the Freedom of the City of London in recognition of his contribution to financial inclusivity and equitable economic development.
The award is given to individuals who have demonstrated exceptional service to society—often in areas like leadership, community service, innovation, and inclusion.
Mr Mwangi has been recognised for his role in revolutionising Kenya’s banking sector.
Equity, under his leadership, focused its attention on people with low incomes as it expanded and targeted people who previously had no formal bank accounts.
Equity under Mr Mwangi also channeled billions of shillings small and medium enterprises at time most banks viewed the segment risky and prone to loan defaults.
He joined Equity as a finance director before rising to chief executive in the early 1990s when the lenders was still a building society.
The Freedom of the City award is also used to pay tribute to an individual's outstanding contribution to London or public life.
“It is also a global recognition that Africa’s time is now—and our stories, innovations, and people matter on the world stage,” Mr Mwangi said in a statement.
Mr Mwangi has been involved in shaping conversations about inclusive growth and opportunity beyond East Africa.
He has been credited with Equity’s expansion in the Eastern Africa region, including DRC Congo, on the back of mergers and acquisitions.
The Freedom of the City of London is believed to have begun in 1237 and enabled recipients to carry out their trade.
Today people are nominated or apply for the freedom, because it offers them a link to the historic City of London and one of its ancient traditions.
