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Foreword Pension funds and social security Early adopters of technology Africa’s pension fund assets Conclusion
Test QA – Fundraising 2016-2025 (line labels OFF)
Region focus in USDbn (illustrative demo data)

Interactive combination chart: Test QA – Fundraising 2016-2025 (line labels OFF)

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Category West Africa East Africa Pan African Sub Saharan Africa North Africa US PE
2016 0.3 0.1 1.9 1 0.2 186
2017 0.1 0.3 0.9 0.5 0.3 252.8
2018 0.05 0.1 0.9 1.4 0.15 207.7
2019 0.05 0.1 1.9 1.7 0.4 353.8
2020 0.05 0.1 0.5 0.3 0.1 278.6
2021 0.05 0.1 2.7 1.2 0.15 379.8
2022 0.05 0.1 4.7 1.4 0.15 403.3
2023 0.05 0.1 1 0.9 0.15 400.5
2024 0.05 0.1 0.9 0.6 0.1 305.3
2025 0.4 0.3 0.3 1.3 0.4 56.7
Test QA – Fundraising 2016-2025 (line labels ON)
Region focus in USDbn (illustrative demo data)

Interactive combination chart: Test QA – Fundraising 2016-2025 (line labels ON)

View chart data
Category West Africa East Africa Pan African Sub Saharan Africa North Africa US PE
2016 0.29 0 1.92 1.1 0.08 186
2017 0 0.25 0.97 0.96 0 252.8
2018 0 0.09 0.98 1.49 0.22 207.7
2019 0 0.01 1.93 1.75 0.52 353.8
2020 0.17 0 0.64 0.29 0.17 278.6
2021 0.23 0.29 2.45 2.13 0 379.8
2022 0 0 4.63 1.76 0.35 403.3
2023 0.03 0.32 1.05 0.73 0.23 400.5
2024 0.06 0 0.74 0.63 0 305.3
2025 0.35 0.02 1.07 1.32 0.48 56.7
Test QA – Line label currency prefixes QA – Line label currency prefixes
Same values, different per-series valuePrefix (illustrative demo data)

Interactive line chart: Test QA – Line label currency prefixes QA – Line label currency prefixes

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Category US Dollar South African Rand British Pound Euro No Prefix
Q1 50 170 90 130 10
Q2 60 185 100 140 20
Q3 70 200 110 150 30
Q4 80 215 120 160 40
Prev Early adopters of technology

Africa’s pension industry

The latest Bright Africa Pensions research highlights the measures required to improve future pension coverage for economically active Africans.

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Foreword

Where pensions systems exist across most of Africa, they do so against a backdrop of elevated levels of informality in labour markets. The result is that the pension contributions outside of the public sector are intermittent and relatively low.

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Pension funds and social security

The standard narrative across the continent is of a small percentage of the population in formal employment for whom social security is possible.

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Early adopters of technology

Africa can leverage its high mobile telephony penetration and digital adoption to tackle a foundational challenge to improved provision of social protection: enrollment.

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Africa’s pension fund assets

According to the Organisation for Economic Co-operation and Development (OECD), assets in pension funds continued to grow throughout 2020, growing by 11% from the end of 2019 to a reported USD56 trillion as of the end of 2020.

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Conclusion

Pension savings on the continent are growing, but this growth can be accelerated through paradigm shifts around pension policy, regulation, incentives and mediums to enable greater participation rates.

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