The Director General of the National Social Security and Insurance Trust (NASSIT), Mohamed Fuaad Daboh, has signed a landmark Memorandum of Understanding (MOU) with the Africa Finance Corporation (AFC), a move described as a major step toward strengthening Africa’s social security institutions and driving the continent’s infrastructure development agenda.
The historic signing took place on September 22, 2025, in New York, on the sidelines of the United Nations General Assembly. The event was hosted by the Africa Finance Corporation and attended by senior officials from social security organizations across the continent. Mr. Daboh, who is a founding member of the Africa Social Security Association (ASSA) and currently serves on its Governing Council, signed the agreement on behalf of ASSA Chairman Nassar Shaaban Ameir, the Managing Director of the Zanzibar Social Security Fund.
The agreement seeks to build stronger institutional capacity for ASSA and expand its influence as a platform to drive Africa’s infrastructure investment priorities. By forging this partnership, the AFC and ASSA are signaling a shared vision of mobilizing pension and social security funds to address Africa’s longstanding infrastructure gap.
In his remarks, Mr. Daboh praised the Africa Finance Corporation for recognizing the crucial role that social security funds can play in transforming Africa’s economies. He highlighted that the MOU will lay the foundation for the creation of an Infrastructure Investment Fund for Africa. This fund, he explained, will focus on financing critical sectors such as transportation, energy, water and sanitation, and telecommunications.
“You can’t speak of economic growth without addressing the infrastructure gap,” Daboh stressed. “This collaboration will ensure that the long-term savings of African workers are strategically invested in projects that directly benefit them, while also contributing to the wider economic development of our nations. AFC’s commitment to strengthening ASSA’s institutional capacity is unparalleled in the history of social security, and this is a turning point in the way Africa positions itself to finance its own growth.”
On his part, the President and Chief Executive Officer of the Africa Finance Corporation, Samaila Zubairu, reaffirmed AFC’s readiness to work closely with ASSA. He disclosed plans to launch a collaborative research programme that will examine African pension regulations and identify policy frameworks that can enable long-term savings to be effectively channeled into infrastructure projects. According to him, Africa’s pension and social security funds hold enormous untapped potential that, if well-directed, could accelerate the continent’s transformation agenda.
Beyond the signing, the agreement carries significant implications for Sierra Leone, as NASSIT continues to position itself as a progressive and innovative social security institution. The deal not only enhances the visibility of Sierra Leone in the global social security space but also strengthens NASSIT’s role in shaping discussions around sustainable investment for social protection.
Meanwhile, the NASSIT Director General is scheduled to attend the World Social Security Forum, organized by the International Social Security Association (ISSA), in Kuala Lumpur, Malaysia, from September 29 to October 3, 2025. During the event, Mr. Daboh will present a paper on the role of social security in Sierra Leone’s socio-economic development. He is also expected to participate as a panelist in the session on ISSA Guidelines for Good Governance.
Additionally, Mr. Daboh will use the forum to engage with global experts and high-level officials to explore innovative approaches for expanding social protection in the informal sector. His ongoing efforts to establish the Salone Informal Sector Pension Scheme have already gained attention as a model for broadening social security coverage in West Africa.
Observers note that the recent commissioning of the ultra-modern Sewa Grounds Market in Freetown, witnessed by His Excellency President Dr. Julius Maada Bio, is part of NASSIT’s growing footprint in infrastructure and social investments. These efforts, combined with the new MOU with the AFC, signal a bold vision for Sierra Leone’s social security sector under Daboh’s leadership.
As NASSIT continues to strengthen its partnerships both locally and internationally, the institution reaffirms its commitment to ensuring that social security is not only about providing retirement benefits but also about contributing to national development, job creation, and long-term prosperity.
NASSIT – We Care!
