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), on 22 September 2025, marking a significant milestone in advancing social security-led infrastructure investment across Africa.

The signing ceremony took place in New York on the sidelines of the United Nations General Assembly and was hosted by the Africa Finance Corporation. The partnership aims to support the Africa Social Security Association (ASSA) in strengthening its institutional capacity and expanding its role in driving Africa’s infrastructure agenda.

Mr. Daboh, a founding member of ASSA and a member of its Governing Council, signed the MOU on behalf of the Association’s Chairman, Nassar Shaaban Ameir, who also serves as Managing Director of the Zanzibar Social Security Fund. He expressed his gratitude to AFC for collaborating with ASSA in establishing an Infrastructure Investment Fund for Africa. This fund is designed to address the continent’s critical infrastructure funding gap by channeling long-term savings into sectors including transportation, energy, water and sanitation, and telecommunications.

This partnership represents an unprecedented opportunity for social security institutions to play a pivotal role in Africa’s economic growth, Mr. Daboh said. With the support of AFC, we will strengthen our institutional capacity while contributing meaningfully to the continent’s infrastructure development.

Speaking at the event, Samaila Zubairu, President and Chief Executive Officer of AFC, highlighted the organisation’s commitment to launching a collaborative research program to assess African pension regulations and identify policy frameworks that can mobilize long-term savings for infrastructure investment.

The MOU underscores the growing recognition of social security funds as key drivers of sustainable development in Africa. By leveraging pension assets, institutions like NASSIT can help bridge the continent’s infrastructure financing gap while promoting inclusive economic growth.

In the coming week, Director General Daboh will attend the World Social Security Forum organised by the International Social Security Association (ISSA) in Kuala Lumpur, Malaysia, from 29 September to 3 October 2025. There, he will speak on the role of social security in Sierra Leone’s socio-economic development, participate as a panelist in the ISSA session on Good Governance, and hold high-level meetings with international experts to advance social protection initiatives for the informal sector, including the establishment of the Salone Informal Sector Pension Scheme.

Copyright –Published in Expo Times News on Friday, 26th September, 2025 (ExpoTimes News – Expo Media Group (expomediasl.com)