New York, USA – In a move that underscores Sierra Leone’s rising voice in shaping Africa’s economic and social security future, the Director General of the National Social Security and Insurance Trust (NASSIT), Mohamed Fuaad Daboh, signed a landmark memorandum of understanding (MOU) with the Africa Finance Corporation (AFC). The ceremony took place on September 22, 2025, on the sidelines of the United Nations General Assembly (UNGA), marking a significant milestone in efforts to channel African pension resources into large-scale infrastructure development.
Mr. Daboh, who has become a prominent figure in continental social security reforms, signed the agreement on behalf of the Africa Social Security Association (ASSA), where he serves as a founding member of the Governing Council. He represented the association’s Chairman, Nassar Shaaban Ameir, Managing Director of the Zanzibar Social Security Fund. The signing was hosted by the AFC and attended by African development leaders, reflecting the growing urgency to find sustainable financing mechanisms for infrastructure across the continent.
The MOU aims to strengthen the institutional capacity of ASSA while expanding its influence in Africa’s infrastructure agenda. At its core is the ambition to create an Infrastructure Investment Fund for Africa, a groundbreaking initiative that would channel long-term pension and social security savings into financing critical sectors such as transportation, energy, water, sanitation, and telecommunications.
In his remarks, Mr. Daboh expressed gratitude to the AFC for its commitment to partnering with social security institutions across Africa. “This collaboration represents a new chapter in how Africa’s social security funds can drive real economic transformation,” he said. “By pooling our resources and investing in strategic infrastructure, we are not only safeguarding the futures of our pensioners but also contributing directly to economic growth and job creation in our nations.”
The Director General described the partnership as “unparalleled in the history of social security on the continent,” highlighting that such cooperation could help bridge Africa’s estimated multi-billion-dollar infrastructure funding gap. “This is about building sustainable systems that benefit today’s workers while securing tomorrow’s retirees,” he added.
Samaila Zubairu, President and CEO of the Africa Finance Corporation, welcomed the agreement, stressing AFC’s readiness to deepen research into pension regulations and policy frameworks across Africa. “We aim to assess the regulatory landscape and identify reforms that will enable long-term African savings to be effectively channelled into infrastructure investment,” he explained. According to Zubairu, this is critical to unlocking the vast potential of Africa’s pension sector as a catalyst for development.
The partnership comes at a time when African governments face increasing fiscal pressures, making innovative financing solutions more urgent than ever. By mobilizing social security contributions into development financing, ASSA and AFC hope to not only address infrastructure deficits but also create a virtuous cycle where investments boost economic growth, expand employment, and in turn, strengthen the social security base.
Meanwhile, Mr. Daboh is set to carry Sierra Leone’s experiences and innovations to the global stage at the World Social Security Forum organized by the International Social Security Association (ISSA) in Kuala Lumpur, Malaysia, from September 29 to October 3, 2025. He will speak on the impact of social security on Sierra Leone’s socio-economic development and serve as a panelist on ISSA’s Guidelines on Good Governance session.
The NASSIT Director General will also hold high-level meetings with international experts to further explore strategies for social protection in the informal sector. His mission is to accelerate the creation of the Salone Informal Sector Pension Scheme, a program designed to ensure that Sierra Leone’s self-employed and informal workers—who form the majority of the workforce—are not left behind in retirement security.
From New York to Kuala Lumpur, Mr. Daboh’s leadership reflects Sierra Leone’s growing role in shaping conversations on how African nations can innovate to secure social protection while driving economic growth. With this new partnership with AFC, the message is clear: social security in Africa is no longer just about paying pensions—it is about powering development.
