Top pension fund managers from across Africa convened in Munyonyo today for the All Africa Pensions Summit, themed “$700 Billion in One Room.” The meeting marks a significant step toward the creation of a “Fund for Africa,” a continental investment pool designed to channel the region’s vast pension savings into Africa-led development.
Patrick Ayota, Managing Director of Uganda’s National Social Security Fund (NSSF), said each pension fund, starting with those in East Africa, will contribute a percentage based on its size. He noted that the initiative aims to help Africans finance their own economies without relying on foreign funding tied to unfavourable conditions.
In a speech read by the Prime Minister, President Yoweri Museveni said the gathering reflects the government’s strategy of finding African solutions to African challenges, underscoring the need for the continent to harness its own resources for growth. Ronah Nahabwe reports.
