Africa’s Pension Funds Are Growing, But Too Much Capital Still Sits in Government Bonds
Africa’s pension industry is accumulating significantly more capital, but much of that money is still circulating between retirement funds and governments rather than financing companies, infrastructure and other productive assets. Pension assets across the economies covered by the 2026 Absa Africa Financial Markets Index increased by nearly US$70 billion in the latest year, equivalent to growth of 24 percent, the largest annual increase recorded in at least four years. South Africa accounted for US$42 billion of that increase as...
