African Social Security Association Partners Africa Finance Corporation (AFC) to Unlock $1.17tn in National Savings for Infrastructure
Launched under the Global Africa Business Initiative (GABI) during the UN General Assembly, the ‘Africa Saving for Growth’ programme brings together social security institutions from 15 countries, Morocco’s CDG Group, and the Africa Finance Corporation (AFC) (www.AfricaFC.org) to build a policy reform roadmap, expand Africa’s capital-pools dataset, and increase allocation to infrastructure and private sector-led projects in Africa.
Africa Finance Corporation (AFC) and Africa Social Security Association (ASSA) today launched a collaborative continent-wide initiative to mobilise African institutional savings into long-term infrastructure, building on AFC’s 2025 analysis identifying at least $1.17 trillion in institutional assets across Africa.
The ‘Africa Saving for Growth’ programme was introduced today under the auspices of the Global Africa Business Initiative (GABI), part of the UN Global Compact. It prioritises specific deliverables that international investors and policymakers can act on:
- Open capital-pools database: Maintain and regularly update the most comprehensive, market-accessible dataset on African institutional savings, including pension funds, insurance, social security institutions, public development banks and sovereign wealth funds.
- Policy reform roadmap: Practical recommendations—prudential guidelines, risk-sharing mechanisms, and intermediation vehicles—that enable pension and social-security funds to invest in infrastructure while preserving asset-liability matching.
- Savings mobilisation playbook: Country-level strategies to increase formal participation and reduce the drag from large informal economies.
- Allocation diversification models: Pathways to shift portfolios away from short-term, low-yield instruments that concentrate public-sector exposure and crowd out private enterprise.
- High impact projects that can catalyse social and economic development in African countries by connecting people, countries, boost productivity and improve quality of life of the people in Africa and ensure Pension Funds sustainability.
The research and advocacy initiative is delivered with leading long-term savings institutions, including the Africa Social Security Association (ASSA)—bringing together national social security funds from 15 countries with more than $54 billion in pension assets—and CDG Group (Morocco), one of the continent’s most influential stewards of long-duration capital.
“Africa-led investment is the most effective way to quickly achieve the scale of transformation we need while catalysing international support for the continent’s infrastructure”, said Samaila Zubairu, President&CEO of AFC. “This initiative is about Africans coming together to put our own capital to work for Africa’s growth. By joining forces, our pension funds and financial institutions can unlock new opportunities, drive development, and demonstrate the power of collective action to build the continent’s future – without compromising fiduciary duties.”
AFC’s 2025 findings show that pension and social-security portfolios across many markets are under-leveraged for development, concentrated in short-tenor instruments that limit returns and private-sector financing. The Africa Saving for Growth programme will surface replicable lessons from successful national models and chart a pragmatic route to risk-managed, long-duration allocations.
“This alliance is a pivotal step for Africa’s long-term savings community—bringing together pension, social security, and other institutional investors,” said Meshach Bandawe, Secretary General of the Africa Social Security Association (ASSA). “This initiative reflects the ambition of the African Union’s Agenda 2063: building a prosperous and inclusive Africa, underpinned by vibrant domestic and regional financial markets, connected by modern infrastructure and powered by shared growth.”
“African pension funds and institutional investors face the challenge of harnessing domestic savings and transforming them into a true driver of economic and social development, particularly through infrastructure financing. We work closely with sister organizations across Africa to align efforts, share expertise, and unlock the full potential of long-term capital in the service of responsible development,” said Khalid Safir, Director General, Caisse de Dépôt et de Gestion (CDG).
Distributed by APO Group on behalf of Africa Finance Corporation (AFC).
Media Enquiries:
Yewande Thorpe
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Africa Finance Corporation
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Email: yewande.thorpe@africafc.org
About AFC:
Africa Finance Corporation (AFC) was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth.
Eighteen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 45 member countries and has invested over US$15 billion in 36 African countries since its inception.
