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This article was produced with the support of Africa Finance Corporation
The landmark research and advocacy collaboration which aims to unlock $1.17 trillion in institutional savings across the continent for long-term infrastructure development was announced during the UN General Assembly in New York on September 22, 2025.
The programme, introduced under the Global Africa Business Initiative (GABI), which is a part of the UN Global Compact, seeks to transform Africa’s underutilized pension and social security assets into engines of economic growth. It brings together social security institutions from 15 countries, with Morocco’s CDG Group, one of the continent’s most influential stewards of long-duration capital, and AFC to build a roadmap for policy reform, expand capital-pool datasets, and diversify investment allocations toward infrastructure and private-sector-led projects.
According to AFC’s 2025 analysis captured in its State of African Infrastructure Report 2025 African institutional investors – including pension funds, insurance companies, sovereign wealth funds, and public development banks – hold at least $1.17 trillion in assets. Yet much of this capital remains locked in short-term, low-yield instruments that limit returns and crowd out private enterprise.
“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.”
The Africa Saving for Growth programme outlines five key deliverables: An Open capital-pools database that will 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;
A Policy reform roadmap that will offer practical recommendations in the form of prudential guidelines, risk-sharing mechanisms, and intermediation vehicles that will enable pension and social-security funds to invest in infrastructure while preserving asset-liability matching;
A savings mobilisation playbook that will propose country-level strategies to increase formal participation and reduce the drag from large informal economies;
Allocation diversification models that outline pathways to shift portfolios away from short-term, low-yield instruments which concentrate public-sector exposure and crowd out private enterprise and;
Identification of high impact projectsthat can catalyse social and economic development in African countries by connecting people, countries, boost productivity and improve the quality of life of the people in Africa and ensure Pension Funds sustainability.
ASSA, representing national social security funds from 15 countries with over $54 billion in pension assets, is a key partner in the initiative. Morocco’s CDG Group, one of Africa’s largest long-term capital stewards, also plays a central role.
“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 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.”
Khalid Safir, Director General of CDG, commenting on the significance of the launch and collaboration said: “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.”
The programme aims to surface replicable lessons from successful national models and chart a pragmatic route to risk-managed, long-duration allocations. It also seeks to catalyse international support by demonstrating the viability and impact of Africa-led investment strategies.
Founded in 2007, AFC has invested over $15 billion in 36 African countries and now counts 45 member states. Its portfolio spans core infrastructure sectors including power, transport, telecommunications, heavy industry, and natural resources.
As Africa’s savings institutions rally behind this initiative, the continent may be poised to redefine its development trajectory; by investing in itself.
