BRAZZAVILLE, June 3, 2026 — 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 finalised at the ongoing African Development Bank Group’s Annual Meetings in Brazzaville. .
Ahmed Attout, Director for Financial Sector Development at the AfDB signed on the institution’s behalf recently; Meshach Bandawe, ASSA’s Secretary General, was the other signatory.
ASSA is a membership-based organisation headquartered in Arusha, Tanzania, working to advance social protection systems across Africa by fostering collaboration, promoting best practice, and strengthening institutional capacity among social security organisations.
Secretary General Bandawe said: “This Letter of Intent marks a significant milestone in advancing Africa’s Social Protection and Development agenda. Through the partnership with the AfDB, ASSA and its member institutions are committed to transforming social security and pension funds into strategic instruments for sustainable development, infrastructure financing and regional economic integration. Together we aim to strengthen institutional capacity, promote sound governance and investment frameworks, and unlock Africa’s domestic capital for the benefit of present and future generations.”
Aligned with the New African Financial Architecture for Development [NAFAD] as endorsed under the Abidjan Consensus, the partnership will support mobilisation of long-term domestic capital, strengthening of regional financial integration, and supporting the development of stronger institutional investment ecosystems across Africa. The two institutions will also cooperate on knowledge sharing, advocacy, and technical assistance.
“This partnership reflects a shared ambition under the Abidjan Consensus and NAFAD to strengthen Africa’s financial resilience by mobilising long-term domestic capital more effectively. Social security and pension institutions are critical actors in deepening local capital markets and supporting strategic investments across the continent,” Attout said. ”
“Through stronger collaboration on technical assistance, knowledge sharing, and scalable investment opportunities, this initiative can help advance regional financial integration, strengthen risk-sharing mechanisms, and contribute to a more resilient African development financing architecture.”
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