African Social Security Association (ASSA) Convenes in Lusaka to Discuss Africa’s Development Agenda

Investment experts from the African Social Security Association (ASSA) member countries have convened a four-day meeting at the Hilton Garden Inn in Lusaka focusing on the crucial task of advancing Africa’s development agenda. This gathering aims to identify local solutions to address the continent’s infrastructure challenges and strategize on leveraging African capital for sustainable growth.

The meeting was officially opened on 17^th June 2023by Mr. Muyangwa Muyangwa, Chairman of ASSA and Director General of the National Pension Scheme Authority (NAPSA). In his opening remarks, Mr. Muyangwa emphasized the importance of utilizing African resources to finance the continent’s development projects.

“I am delighted to join you as we discuss the proposal for establishing an investment fund for infrastructure development in Africa,” said Mr. Muyangwa.

He underscored the potential impact of the proposed fund, which aims to bridge Africa’s  infrastructure gap by investing in critical sectors such as transportation, energy, water, sanitation, telecommunications, and social infrastructure.

The establishment of this investment fund is seen as an important step towards self-reliance and sustainable development. By mobilizing African capital, the fund seeks to mitigate the continent’s dependency on foreign aid and loans, promoting a more autonomous and resilient economic framework.

Founded in March 2007, ASSA serves as an umbrella body encompassing several member states, including Tanzania, Kenya, Uganda, Rwanda, Burundi, South Sudan, Zambia, and Zimbabwe. The association was created in response to the need for closer collaboration among pension funds and health insurance schemes, aiming to enhance the quality and effectiveness of social security services across the region. ASSA’s headquarters are located in Arusha, Tanzania.

The National Pension Scheme Authority assumed the chairmanship of ASSA in 2023 during the Association’s Social Protection Policy Makers conference in Livingstone. Under Mr. Muyangwa’s leadership, ASSA aims to strengthen its initiatives and drive forward the development agenda through strategic partnerships and innovative financing solutions.

The ongoing meeting in Lusaka is expected to yield concrete strategies and actionable plans for the proposed investment fund. Participants will engage in in-depth discussions, workshops, and collaborative sessions to refine the proposal and ensure its alignment with regional development goals.

The four-day ASSA meeting in Lusaka represents a critical step in advancing Africa’s development agenda. By focusing on infrastructure investment and leveraging African capital, ASSA aims to foster sustainable growth and improve social security services across the continent.