By Sadique Bamwita
KAMPALA
President Yoweri Kaguta Museveni has challenged all African Countries to fully utilize the pension funds to develop Key infrastructure projects like roads, electricity among others.
In his speech read by Prime Minister Robinah Nabanjja, President Yoweri Museveni revealed that the African continent is in dire need of capital and entrepreneurship to trigger it’s development and socio-economic transformation. He attributed this to over dependence on external borrowing from foreign powers.
Addressing the gathering during the All Africa Pension Summit held in Kampala on November 5, 2025, Prime Minister Robinah Nabanjja who represented President Yoweri Museveni, admitted that Africa’s pension funds which are estimated at 1.4 trillion USD provide a rare opportunity for raising the required capital to invest in the critical sectors of the economy such as roads.
The Minister for Gender Labor and Social Development, Hon. Betty Amongi, argued that through collective efforts, Africa’s pension funds have the powers to change Africa’s economic landscape. She, however called on stakeholders to transform pension funds into institutional investment.
“It’s time for pension funds to transform into an engine for development for our retirees. This is because represent security of our workers. Government is resonate not to jeopardize social security funds,” Hon. Amongi assured participants.
The Chairperson Board of Directors at the National Social security Funds (NSSF), Dr. David Ogong, tasked African Countries to leverage on pension funds so as to contribute to the development agenda and sustainable development.
The Permanent Secretary in the Ministry of Finance and also secretary to the Treasury, Prof. Ramadan Ggobi, noted that the 1.4trillion USD held by Africa’s pension funds should be mobilized for Africa’s infrastructure transformation.
“Uganda’s economy has expanded to 6.3% and is projected to grow by 7% this fiscal year. The inflation is under control, currency is stable and national debt is controllable, “Prof. Ggobi revealed.
Mrs. Jane Nzau who represented pensioners from Kenya, said there is need to formulate proper legal framework to be able to invest own funds.
