Africa’s financial landscape is to undergo a significant transformation as the continent’s major pension funds prepare to converge in Kampala, Uganda, for the inaugural “$700 Billion in 1 Room” All Africa Pensions Summit.
This pivotal meeting, announced today during a media engagement organised by the National Social Security Fund (NSSF), signals a strategic shift: reducing reliance on traditional foreign funding and mobilising vast domestic savings to address Africa’s critical development financing gaps.
The media engagement was graced by the Secretary General of the Africa Social Security Association (ASSA), Mr. Meshach Bandawe, Patrick Micheal Ayota, the NSSF Managing Director and Chairperson of the International Social Security (ISSA) East Africa Liaison Office, plus Mr. Leonard Zulu, the United Nations Resident Coordinator for Uganda, and Amanda Kabagambe, Chairperson of the East African Venture Capital Association, who all echoed the need for new and innovative sources of funding for Africa’s development needs, given the reduction in foreign funding and realignment of the global geopolitics.
The Summit, hosted by NSSF Uganda, will be held from November 5–7, 2025, under the theme “Pension Funds – Powering Africa’s Growth.”
“Pension funds across Africa hold about $700 billion in assets under management. This is a major opportunity for Africans to catalyse our own economies by providing funding that is not tied to unfavourable conditions from foreign funding agencies,” Mr. Ayota said.
Ayota, who is at the helm of NSSF Uganda, which is East Africa’s biggest fund valued at more than $7 billion, added that due to the realignment of global geopolitics, the traditional sources of foreign funding for Africa can no longer sustain the pace at which the continent’s infrastructure requirements are expanding.
New Development Finance Paradigm
The impetus for this historic gathering stems from the dual pressures of massive development needs and the contraction of traditional aid channels.
According to the African Development Bank, Africa requires over $1.3 trillion annually to meet its overall development goals, leaving a significant financing gap.
Patient Capital Pool
This immense pool of capital, according to Mr. Ayota, is recognised as the ultimate “patient capital,” capable of providing the long-term, stable funding required for major infrastructure and development projects that foreign agencies have traditionally funded, often with unfavourable conditions.
The Geopolitical Reality
Leaders at the media engagement, including ISSA’s Bandawe and UN Resident Coordinator for Uganda, Mr. Zulu, universally stressed that the era of relying on Official Development Assistance (ODA) is waning.
Mr. Zulu emphatically stated, “The realignment of global geopolitics and the fact that 15 of the 20 traditional donor partners have reduced their funding necessitates a radical change.”
“It is vital to formulate actionable solutions for enhanced domestic resource mobilisation and innovative financing to support national development strategies while fostering resilience and sustainability,” he added.
The consensus is clear: Africa must now look inward, mobilise its domestic savings and diaspora remittances, and shift the focus from aid to trade.
Agenda for Self-Reliance
According to Bandawe, the All Africa Pensions Summit is designed to formulate an actionable plan for channelling this massive capital into high-impact investments across the continent. Key focus areas include:
Creation of a “Development Fund for Africa”
Mr. Ayota revealed that the core objective is to get pension funds to commit to pooling resources into a dedicated fund for continental development needs, reducing reliance on external debt.
Infrastructure Development
He observed that pension funds are recognised as a “critical lever” for unlocking long-term capital for essential infrastructure projects, a requirement for stimulating broader economic growth. He gave an example of NSSF’s commitment to constructing the Kampala-Jinja Expressway, plus the Great Ethiopian Renaissance Dam, which was partly constructed using funds from the pension fund of Ethiopia.
Strengthening Partnerships
In order to harness the synergy of resources, Ayota stated that the Summit will also focus on collaboration among the 51 pension and social security funds across Africa to ensure maximum impact and efficiency in capital deployment.
Social Impact Investment
It will also act as a platform to explore how pension capital can be directed to stimulate vital sectors such as agriculture and climate change financing.
As Mr. Bandawe noted, successful examples already exist where African pension funds, members of the Africa Social Security Association, have provided locally mobilised capital for major projects, for instance, in Tanzania.
By bringing together CEOs, CIOs, global investors, and policymakers, the “$700 Billion in 1 Room” Summit marks a turning point, symbolising Africa’s new self-reliance and its determination to take charge of its economic destiny using its own mobilised wealth.
