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AFC: Africa's $777Bn Pension and Insurance Assets Can Drive Infrastructure Growth
The Business NG
|The BusinessNG
A new report by the Africa Finance Corporation (AFC) has spotlighted pension funds and insurance companies as underutilized engines of economic growth across Nigeria and the continent.
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Despite boasting more than $777 billion in assets under management, these institutional investors have largely focused on short-term, low-risk instruments rather than channeling funds into long-term infrastructure and industrial development.
The report, titled State of Africa's Infrastructure (SAI), argues that reforms in key African markets like Nigeria and Namibia are beginning to shift this trend, as regulatory changes aim to align pension savings with critical national development priorities. Similar momentum is emerging in South Africa and Kenya, suggesting a continental push to mobilize local capital for transformative growth.
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