African leaders, fiscal policy experts and pension fund custodians have rallied behind a bold new development strategy, financing Africa’s future using Africa’s own retirement savings.
The call dominated discussions at the All Africa Pension Summit 2025 held at Speke Resort, Munyonyo, where stakeholders urged governments to unlock the transformative potential of domestic pension funds to plug infrastructure gaps, stimulate investment and reduce dependence on volatile foreign debt.
Representing President Yoweri Museveni, Prime Minister Robinah Nabbanja challenged African nations to rethink how pension capital is deployed, arguing that retirement savings should not merely accumulate interest in isolated portfolios but actively build economies.
“These funds must work for Africa, constructing roads, powering industries, enabling affordable housing and shaping the future for the very contributors they serve,” Nabbanja said.
The summit spotlighted a staggering figure as Africa’s pension assets are now estimated at more than USD 700 billion, an amount experts say could be a game changer if strategically channelled into long-term development projects.
Uganda’s National Social Security Fund (NSSF) was cited as a leading model in the region, having ventured beyond traditional asset holding into large scale investments such as real estate, renewable energy and industrial financing.
Backing the shift, Ramathan Ggoobi, Secretary to the Treasury noted that pension funds are among the most reliable sources of patient capital ideal for sectors that require long payback periods such as infrastructure and energy.
“We cannot build tomorrow’s Africa on borrowed money alone. We must begin funding our future from within,” Ggoobi stressed.
Financial analysts at the summit warned however that for pension backed development to succeed, governance safeguards must be strengthened. Mismanagement, excessive political interference and low transparency were flagged as the biggest risks that could erode public trust in retirement savings schemes.
Participants proposed reforms including stronger regulatory oversight, ring fencing of contributors’ interests, greater investment diversification and the creation of pan-African frameworks to support cross-border infrastructure financing.
South African, Kenyan and Nigerian pension managers attending the conference shared lessons from their domestic markets, where pension savings have funded highways, housing projects, digital infrastructure and energy plants demonstrating that the model is not only viable but necessary.
The overarching consensus from the summit was clear as Africa has enough capital to fuel its own development, what is needed now is the political will, financial discipline and strategic direction to deploy it.