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7 African countries with highest pension fund asset growth

  • Enterprise Insider Africa presents 7 African nations with the very best pension fund progress.
  • The record is courtesy of the recently-released “Pension Markets in Focus” report by the OECD.
  • Pension funds are funding swimming pools that accumulate wealth for staff’ retirement.

A latest report by the Organisation for Financial Co-operation and Improvement (OECD) has proven that world pension fund belongings grew by over 10% to $38.5 trillion in 2021.

The report targeted particularly on pension fund belongings in 68 nations or reporting jurisdictions, consisting of 38 OECD nations and 30 non-OECD nations in Japanese Europe, Asia and Africa. The report mentioned in elements:

“Total, pension fund belongings amounted to USD 38.5 trillion in a complete of 68 reporting jurisdictions at end-2021. Most of those belongings had been held by pension funds within the OECD space, totalling USD 37.7 trillion. The US recorded the most important quantity of belongings in pension funds (USD 22.6 trillion), adopted by the UK (USD 3.6 trillion), Australia (USD 2.3 trillion), the Netherlands (USD 2.0 trillion), Canada (USD 1.7 trillion), Japan (USD 1.5 trillion) and Switzerland (USD 1.2 trillion). These seven nations altogether held 92.4% of pension fund belongings within the OECD space.”

As all the time, our focus right here at Enterprise Insider Africa is on the seven African nations that made it to the highest record. We will unveil them shortly. However first, let’s briefly focus on what a pension fund is.

What are pension funds?

Based on The Stability, pension funds are funding swimming pools that accumulate wealth to pay for staff’ retirement. Usually, pension funds are contributed by each staff and their employers, particularly in African nations the place obligatory pension schemes exist.

Pension fund managers put money into totally different asset lessons reminiscent of equities, mounted revenue belongings reminiscent of bonds, treasury payments and company bonds, Collective Funding Schemes (CIS0, and so on.

Under are the seven African nations with the very best pension fund asset growths, in accordance with the OECD. The record is offered in no specific order of precedence.

  1. Egypt: Egypt’s pension fund asset grew by 8.0%% to $6.2 billion, representing 1.5%% of the nation’s 2021 GDP.
  2. Ghana: Ghana’s pension fund asset grew by 27.2%% to $4.7 billion, representing 6.3%% of the nation’s GDP in 2021.
  3. Kenya: The nation’s pension fund asset grew by 10.6%% to $13.7 billion, resenting 12.9%% of the nation’s 2021 GDP.
  4. Namibia: This Southern African nation’s pension fund belongings grew by 17.6%% to $11.8 billion, representing 103.0%% of the nation’s 2021 GDP.
  5. Nigeria: Nigeria’s pension fund belongings grew by 9.1%% to $32.6 billion, representing 7.6%% of the nation’s GDP.
  6. Uganda: Uganda’s pension fund belongings grew by 15.8%% to $5.3 billion, representing 12.4%% of the nation’s GDP.
  7. Zimbabwe: Zimbabwe’s pension fund belongings grew by 285.8%% to $2 billion, representing 7.6%% of GDP.

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