The forum brought together pension supervisors from different African countries to deliver a harmonized approach for interventions and reforms in the pensions sector across the continent.

The theme of the conference was “Resilience and sustainability of the pension sector amid the crisis- The case of covid 19 pandemic”.

Pension supervisors in Africa, relevant stakeholders, experts and partners in the pension industry shared experiences, discussed opportunities, challenges faced by the pension industry and new developments in the industry.

The challenges include lower investment returns and Africa’s labour structure that comprises approximately 86% of labourers being in the informal sector and with limited access to the pension services

The network will accelerate the pace of reforms in the pension space for greater economic impact in Africa.

This will include harnessing the opportunities available through fintech. The network will play a key role in safeguarding offshore pensions investments against risks related to cross-border transactions.

Harmonised policies will drive an increase in pension investments
The signed MOU with APSF is keen to work with market stakeholders to ground ESG principles and climate-related financial disclosures framework in the investments of pensions funds.

A better-regulated sector with strong policy guidelines will attract more investments from pension funds, ultimately contributing to the economic growth of the continent.

Proper Harmonized policy guidelines for the pension sector will support various governments’ efforts to safeguard the wellbeing of Africa’s retired generation.

Together, we can harness the opportunities presented by the pension sector

Through this collaboration members will be able to learn from peers, emulate global best practices and hold each other accountable in safeguarding the interests of pension investors.

Commenting on the MOU, FSD Africa Capital Markets Director, Evans Osano, said: “With the right support and regulations, Africa’s pension sector can deliver returns for retirees while funding nation-building initiatives.

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