By Lucy Ogalue
The African Development Bank (AfDB) and the Africa Social Security Association (ASSA) have signed a Letter of Intent to strengthen collaboration on Africa’s long-term development financing priorities.
The agreement was signed at the ongoing 2026 Annual Meetings of the AfDB Group in Brazzaville, Republic of Congo, aimed at deepening cooperation on social protection and sustainable development financing across the continent.
The AfDB was represented by Director for Financial Sector Development, Mr Ahmed Attout, while ASSA Secretary-General, Mr Meshach Bandawe, signed on behalf of the association headquartered in Arusha, Tanzania.
ASSA described the agreement as a major milestone in advancing Africa’s social protection and development agenda through stronger partnerships and improved financial coordination among member institutions.
“This Letter of Intent marks a significant milestone in advancing Africa’s social protection and development agenda,” Bandawe said.
He said the partnership would help transform social security and pension funds into strategic instruments for sustainable development and infrastructure financing across African economies.
Bandawe added that the collaboration would also strengthen regional economic integration and enhance institutional capacity for effective financial governance and investment planning across the continent.
He said that the initiative aligned with the New African Financial Architecture for Development (NAFAD), endorsed under the Abidjan Consensus to promote domestic capital mobilisation.
Under the agreement, both institutions will collaborate on mobilising long-term domestic capital and strengthening regional financial integration across African financial systems and development institutions.
They will also cooperate on knowledge sharing, advocacy and technical assistance to improve institutional investment ecosystems and strengthen governance frameworks across member countries.
Responding, AfDB Director Mr Ahmed Attout said social security and pension institutions remained critical to deepening local capital markets and supporting sustainable development financing in Africa.
“This partnership reflects a shared ambition under the Abidjan Consensus and NAFAD to strengthen Africa’s financial resilience,” Attout said.
He added that stronger collaboration would enhance regional financial integration and support strategic investments, contributing to a more resilient African development financing architecture.(NAN)(www.nannews.ng)
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