For millions of African workers and retirees, the savings set aside over a lifetime of employment may hold a far larger purpose than retirement alone. That was the central message emerging from the first African Social Security Summit, held in Addis Ababa on 29 and 30 October 2026, where delegates called for stronger social security systems and greater mobilization of long-term institutional capital to support infrastructure development and economic transformation across the continent.
The summit, convened under the theme “Harmonizing Social Security Systems for Infrastructure and Economic Transformation in Africa”, brought together policymakers, representatives of social security institutions, regulators, development finance institutions and investment experts from across Africa. It was organized by the Africa Social Security Association (ASSA) in partnership with the United Nations Economic Commission for Africa (ECA), the African Union, the African Development Bank Group, the African Union Development Agency (AUDA-NEPAD), the Africa Finance Corporation (AFC), the Trade and Development Bank (TDB) Group, the National Bank of Ethiopia, the Public Servants Social Security Administration of Ethiopia, the Private Organizations Employees Social Security Administration of Ethiopia and CRDB Bank PLC of Tanzania.
Behind the policy language lies a question that touches workers directly: can the money they contribute be put to work without putting their security at risk? Hanan Morsy, Deputy Executive Secretary (Programme) and Chief Economist of ECA, addressed that tension in her opening remarks. She highlighted the role of well-governed social security and pension institutions in meeting development financing needs while safeguarding contributors’ savings. Citing AFC estimates that capital pools across Africa exceed US$4 trillion, including more than US$1 trillion in pension and life insurance assets, she called for stronger institutions, suitable investment instruments and bankable project pipelines to channel long-term savings into productive investments. “Africa is not without savings, but too little of its long-term capital is reaching bankable, development-enhancing assets,” she said. Mobilizing these resources, she stressed, must go hand in hand with protecting the trust of workers and retirees.
Eyob Tekalign, Governor of the National Bank of Ethiopia, echoed the call in his opening address, emphasizing the importance of mobilizing domestic resources to support development and strengthen economic resilience. He pointed to the role of social security systems in providing social protection, supporting productive investment and promoting long-term economic stability, and called for stronger institutions to support inclusive and sustainable development.
For the people whose contributions are at stake, the discussions carried practical weight. Participants examined ways to extend coverage to workers in the informal sector through demand-driven benefits and digital platforms, improve administrative efficiency through technological innovation, and advance employment injury protection and universal health coverage. They also exchanged experiences on governance, data management and service delivery, areas that shape how reliably benefits reach the people entitled to them.
A concrete step came on the margins of the summit. There, AUDA-NEPAD and ASSA signed a memorandum of understanding to strengthen cooperation on mobilizing African domestic institutional capital for infrastructure development. Signed by Nardos Bekele-Thomas, Chief Executive Officer of AUDA-NEPAD, and Meshach Bandawe, Secretary General of ASSA, the agreement provides a framework for collaboration on the proposed ASSA Infrastructure Fund, which is intended to mobilize African institutional capital for infrastructure and other productive investments. Building on a declaration of intent announced in 2025, the partnership seeks to channel long-term pension and social security savings into infrastructure investments aligned with Agenda 2063 and to support the development of a pipeline of bankable projects across the continent. Participants also discussed the potential roles of AFC, the TDB Group, the African Development Bank Group and the African Union in supporting the initiative.
Admassu Tadesse, President and Group Managing Director of the TDB Group, emphasized the need for closer collaboration between development finance institutions and African institutional investors. He noted that bankable projects, effective risk-mitigation mechanisms and suitable investment opportunities were essential to attracting long-term institutional financing, and highlighted the role of African multilateral development banks in mobilizing domestic resources for infrastructure and economic transformation.
The summit closed with resolutions to mobilize long-term institutional capital for infrastructure, harmonize regulatory and investment frameworks, expand inclusive social protection and strengthen implementation and follow-up, while safeguarding members’ contributions and upholding fiduciary obligations. To turn these commitments into action, participants called for closer cooperation among governments, regulators, social security institutions, development finance institutions and regional organizations to advance Africa’s development priorities.
Whether the pension contributions of ordinary workers can genuinely finance that transformation, and still be there when they retire, is the question these resolutions will now have to answer.