The National Social Security Fund (NSSF) Uganda, in partnership with the Africa Social Security Association (ASSA), has officially launched the All-Africa Pension Summit (AAPS) — a landmark gathering that will bring together leaders from across the continent to explore how Africa’s pension assets can drive inclusive growth, infrastructure investment, and sustainable development.
The inaugural summit, themed “Pension Funds – Powering Africa’s Growth,” will take place from 5th to 7th November 2025 at the Speke Resort Convention Centre, Munyonyo, in Kampala. It will convene chief executives of pension funds, global investors, policymakers, venture capital firms, development finance institutions, and other key stakeholders in Africa’s financial and social protection ecosystem.
NSSF Uganda Managing Director Patrick Ayota said the summit seeks to reposition African pension funds as key players in mobilising domestic resources to accelerate the continent’s development agenda.
“It is a pleasure to announce that NSSF Uganda will convene and host the inaugural All-Africa Pension Summit,” Ayota said at the media launch held at Kampala Serana Hotel. “By the end of 2024, Africa’s pension funds held over $700 billion in assets. However, the ratio of pension assets to GDP remains below 40% — far lower than our potential. It’s time we unlock this patient capital to power Africa’s future.”
He added that pension funds can play a pivotal role in filling the financing gap for infrastructure development, long dominated by external funding.
“For a long time, Africa has relied on funding from the West for its infrastructure. However, the changing global geopolitical posture means that Africa must now mobilise domestic capital to meet its development needs. Pension funds can and should fill that gap,” Ayota emphasised.
Beyond traditional investments in fixed income and real estate, he said pension funds must increasingly channel resources toward transformative sectors such as healthcare, education, renewable energy, affordable housing, and technology — areas that directly improve lives while yielding sustainable returns.
“The summit will focus on four key areas,” Ayota explained. “Expanding pension coverage to integrate the informal sector, strengthening partnerships with governments and DFIs, catalysing infrastructure financing, and enhancing social impact through pension-backed investments that change lives.”
He highlighted that several African pension funds — including NSSF Uganda, NSSF Tanzania, Ghana’s SSNIT, and schemes from Rwanda, Morocco, and Zambia — are already innovating to expand coverage and deepen financial inclusion.
Unlocking Africa’s Investment Power
Meshack Bandawe, Secretary-General of the Africa Social Security Association (ASSA), described the summit as a historic opportunity for the continent’s pension sector to lead Africa’s economic transformation.
“NSSF Uganda’s leadership in hosting this forum reflects the growing realisation that pension funds are not just savings vehicles but engines for development,” Bandawe said. “Through ASSA, African pension funds are establishing an Infrastructure Investment Fund for Africa to mobilise resources, share risks, and finance high-impact projects such as roads, energy, telecommunications, health, and agriculture.”
He noted that despite Africa’s annual infrastructure financing gap of $170 billion, the continent’s accumulated pension assets could help close that deficit if strategically invested.
“Social security funds have the power to unlock Africa’s economic and social transformation,” Bandawe added. “By investing in infrastructure, we can create jobs, boost productivity, and reduce dependency on foreign aid. This aligns perfectly with the African Union’s Agenda 2063 for a prosperous, integrated, and self-reliant Africa.”
Local Capital for Local Development
Amanda Kabagambe, Chairperson of the East Africa Venture Capital Association (EAVCA), announced a strategic collaboration between EAVCA and NSSF Uganda to support the summit and promote local capital mobilisation.
“Africa is home to vast pools of domestic capital, particularly within our pension funds,” she said. “We have heard the staggering $700 billion figure, and yet much of this capital remains underutilised. This summit is about changing that narrative.”
Kabagambe described the AAPS as “a platform for action, not just another event.” “Sessions are designed to deepen collaboration, spark innovation, and build trust to mobilise long-term capital at scale,” she said. “At EAVCA, we believe that local capital must lead local development. Together, we can lay the foundation for a more inclusive and self-sustaining investment landscape.”
UN Endorses African-Led Financing
Representing the United Nations, Leonard Zulu, the UN Resident Coordinator in Uganda, hailed the summit as a timely and transformative initiative for the continent.
“It is truly exciting to see what we’ve been discussing in conference rooms come to life,” he said. “Africa is not poor — we have $1.3 trillion in pension funds, $483 billion in domestic revenue, and $100 billion in annual remittances. We have the resources to shape our own destiny.”
Zulu said the UN fully supports the AAPS as part of broader efforts to strengthen domestic resource mobilisation and reduce aid dependency.
“Traditional development assistance is no longer sufficient to meet today’s challenges,” he noted. “Africa must look inward — mobilising pension funds, diaspora remittances, and blended finance to fund our future.”
He applauded Uganda’s growing pension sector, now valued at UGX 25.4 trillion, and praised NSSF’s inclusion efforts that allow even informal workers to participate in long-term savings.
“This summit lays the foundation for a continental dialogue on how Africa’s pension assets can drive inclusive growth and sustainable infrastructure,” Zulu said. “The UN stands fully behind this effort and will provide technical and expert support.”
As Africa moves toward economic independence, the All-Africa Pension Summit promises to be a turning point — showcasing how African capital can build African prosperity. “It can be done — play your part,” Bandawe reminded participants. “Together, we can redefine the future of social security and development on the continent.”