AFC, ASSA Launch $1.17tn Africa Savings-for-Infrastructure Plan

A landmark initiative aimed at mobilising Africa’s vast institutional savings for infrastructure development has been launched under the Global Africa Business Initiative (GABI), part of the UN Global Compact.

The programme, called Africa Saving for Growth, brings together the Africa Finance Corporation (AFC), the Africa Social Security Association (ASSA), Morocco’s CDG Group, and social security institutions from 15 countries. Together, they will work to expand Africa’s capital-pools dataset, build a policy reform roadmap, and channel long-term savings into infrastructure and private sector-led projects across the continent.

The move builds on AFC’s 2025 analysis, which identified at least $1.17 trillion in institutional assets across Africa that remain underutilised for development. The new initiative seeks to redirect these funds towards high-impact projects that can connect countries, boost productivity, and improve quality of life for millions of Africans while ensuring pension fund sustainability.

The Africa Social Security Association represents national social security funds from 15 countries, with more than $54 billion in pension assets. Morocco’s CDG Group, one of the continent’s most influential managers of long-term capital, is also playing a central role in driving the agenda.

“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 findings show that many African pension and social-security portfolios remain concentrated in short-tenor, low-yield instruments. This limits returns and constrains private sector financing. The Africa Saving for Growth programme will highlight lessons from successful national models and chart a pathway for 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 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 Morocco’s Caisse de Dépôt et de Gestion (CDG), emphasised the importance of leveraging Africa’s domestic savings for transformative 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,” he said.

The Africa Saving for Growth programme is positioned as a blueprint for channeling Africa’s wealth back into its own development, bridging the gap between vast pools of savings and the urgent need for sustainable infrastructure.