African pension funds see low returns in limited cross-border investment

Pension schemes are finding it difficult to make cross-border investments due to political interference, a Pan-African forum was told in Nairobi last week. Subsequently pension funds hold billions of shillings in unattractive government-linked ventures, thereby denying members higher returns as well as the opportunity to profitably contribute to development. The forum heard that most pension fund trustees are subject to political sway thus making it difficult to innovate new products or investments. Cross-border investments are often considered unpatriotic. The Making Finance Work...