Ethiopia backs African infrastructure fund
By the AFREEQUE newsroom, based on Fanamc
Ethiopia’s National Bank governor, Eyob Tekalign, supports creating an African fund that would mobilise pension savings to finance energy, transport, affordable housing and digital infrastructure. He called for harmonising investment rules and protecting contributions, reports Fanamc.
The governor of Ethiopia’s Central Bank, Eyob Tekalign, called on Thursday 29 October for greater cooperation among African pension funds and social security institutions to finance infrastructure and the continent’s economic transformation. He was speaking at the opening of the first African Social Security Summit, held in Addis Ababa, according to Fanamc.
Eyob Tekalign proposed pooling the resources of pension institutions to invest in energy, transport, affordable housing and digital infrastructure. He also backed discussions on creating an African Pension Infrastructure Fund, which would finance cross-border investments through harmonised regulatory frameworks.
The governor stressed the need to protect workers’ savings through sound governance, transparency, prudent investment management and effective regulatory oversight. He called on governments, regulators, pension funds and development partners to turn the discussions into investment mechanisms and concrete commitments.
