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Renewed push to increase Africa’s pension investments

Total AUM for Nigeria's pension sector, the largest of the five top-ranking national pension sectors in Sub-Saharan Africa (excluding South Africa) based on AUM, increased more than 9.5 times since end- 2006, to an estimated US$33.3 billion by end-2019,

By Remie Otieno

Stakeholders from the Africa Pensions Supervisors Forum (APSF) last week inked a critical deal with Financial Sector Deepening Africa (FSD Africa) aimed at firming up ESG principles and climate-related financial disclosures framework to boost pension funds’ investments.

Analysts believe a well-regulated sector with strong policy guidelines will attract more investments from pension funds, ultimately contributing to the economic growth of the continent.

Proper Harmonized policy guidelines for the pension sector, are also thought will support various governments’ efforts to safeguard the wellbeing of Africa’s retired generation.

Africa’s pension sector holds assets estimated at US$420 billion. The network is devising ways of Harmonized risks related to pension’s investments to ensure that money is available to pensioners when they need it.

Through this collaboration members will be able to learn from peers, emulate global best practices and hold each other accountable in safeguarding the interests of pension investors.

The announcement was made during APSF’s third annual forum in Kigali which brought together pension supervisors from different African countries to deliver a harmonized approach for interventions and reforms in the pensions sector across the continent.

Themed, “Resilience and sustainability of the pension sector amid the crisis- The case of Covid 19 pandemic,” stakeholders, experts and partners in the pension industry shared experiences, discussed opportunities, challenges faced by the pension industry and new developments in the industry.

The APSF network which was initially made of five countries is expanding and currently sees Botswana, Egypt, Mauritius, Ghana, Kenya, Nigeria, Rwanda, South Africa, Uganda, and Zambia collaborating to deliver on their commitment to a healthy financial future for their citizens.

This collaboration provides the impetus needed to unlock the potential of the pension sector in the continent.

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