Our latest research paper focuses on African pensions. Contact us to receive a copy of the full paper or to request a meeting to discuss the research or receive a tailored briefing relevant to your organisation.
Abstract
This paper examines the evolving pension landscape across Eastern, Western and Central Africa, focusing on recent reforms, innovations, and lessons for both regional stakeholders and international observers.
While pension coverage across sub-Saharan Africa remains below 20%, a number of countries — including Nigeria, Kenya, Ghana, Rwanda and Namibia — have undertaken significant reforms to transition from pay-as-you-go defined benefit models towards pre-funded, multi-tier and defined contribution systems.
The analysis highlights how mobile technology, micro-savings products, and targeted incentives are being deployed to extend pension coverage to informal sector workers, who make up the majority of Africa’s labour force.
Pension funds are also diversifying investments into housing, infrastructure and SMEs, often in collaboration with development finance institutions, to support both returns and local economic growth.
The paper considers the implications of these innovations for the UK particularly in relation to expanding coverage for gig-economy workers and aligning defined contribution capital with productive finance.
It concludes how African pension reforms may provide valuable insights into designing inclusive, flexible and sustainable systems in rapidly changing economies.
How we can help you
Haines Global Pensions, in partnership with Actuarix in Mauritius, can advise multinationals, governments and pension funds across Africa. Support areas include:
- Country-by-country insights
- Pension benefit design and funding
- Governance and investment strategies
- Integrating local innovations into multinational pension frameworks
- Advising on M&A, risk transfer and global policy developments