By Ayomide Otitoju
The Africa Finance Corporation (AFC) and the Africa Social Security Association (ASSA) have launched the Africa Saving for Growth programme, a continent-wide initiative aimed at mobilising Africa’s institutional savings into long-term infrastructure and private sector-led projects. The launch took place during the UN General Assembly under the Global Africa Business Initiative (GABI).
The programme builds on AFC’s 2025 analysis, which identified at least $1.17 trillion in institutional assets across Africa, much of it tied up in short-term, low-yield instruments. By unlocking this capital, the initiative seeks to accelerate infrastructure development, foster private sector growth, and ensure the sustainability of pension funds across the continent.
Key deliverables include:
- An open capital-pools database, providing the most comprehensive, market-accessible dataset on African institutional savings.
- A policy reform roadmap with guidelines and risk-sharing mechanisms to enable pension and social-security funds to invest in infrastructure without undermining asset-liability balance.
- A savings mobilisation playbook offering country-level strategies to expand participation and reduce the burden of informal economies.
- Allocation diversification models to shift portfolios away from short-term, public-sector-heavy instruments toward higher-impact, long-term assets.
The initiative is being delivered with the support of ASSA—which represents social security funds from 15 countries with more than $54 billion in pension assets—and Morocco’s CDG Group, one of Africa’s leading institutional investors.
“Africa-led investment is the most effective way to achieve the scale of transformation we need while catalysing international support,” said Samaila Zubairu, President and CEO of AFC. “By joining forces, our pension funds and financial institutions can unlock new opportunities, drive development, and build the continent’s future—without compromising fiduciary duties.”
ASSA Secretary General Meshach Bandawe described the alliance as a “pivotal step” for Africa’s long-term savings community. He said it aligns with the African Union’s Agenda 2063 vision of a prosperous and inclusive continent underpinned by modern infrastructure and regional financial markets.
Khalid Safir, Director General of Morocco’s CDG Group, added that the initiative addresses a central challenge: transforming domestic savings into engines of economic and social development. “We work closely with sister organisations across Africa to align efforts, share expertise, and unlock the full potential of long-term capital in the service of responsible development,” he said.
The Africa Saving for Growth programme will draw lessons from successful national models and chart a pragmatic pathway toward risk-managed, long-duration allocations to infrastructure, helping to connect countries, boost productivity, and improve quality of life across the continent.
