On Tuesday, September 23, in New York, Morocco’s Caisse de Dépôt et de Gestion (CDG) joined the official launch of the “Africa Saving for Growth” initiative, spearheaded by the Global Africa Business Initiative (GABI) on the sidelines of the United Nations General Assembly. This new alliance aims to unlock the power of African savings by directing institutional capital into transformative projects that support long-term, sustainable growth across the continent.
The gathering brought together representatives from over a dozen African nations, including key players such as social security funds, pension institutions, and long-term financing bodies. Among them were the Africa Finance Corporation (AFC) and the Africa Social Security Association (ASSA). Their shared goal: to build a pan-African framework that channels domestic institutional resources into infrastructure and private-sector development.
The initiative took a concrete step forward with the signing of a memorandum of understanding between CDG and AFC. The agreement sets the stage for joint efforts in capacity building for African institutions, fostering financial inclusion, encouraging academic and applied research, and aligning investment strategies with the continent’s broader economic development priorities.
For Khalid Safir, Director General of CDG, this collective push is more than timely—it’s essential. “African institutional investors have a responsibility to turn domestic savings into a driver of growth, particularly through infrastructure financing,” he said following the event. “Doing so requires close coordination, shared expertise, and a long-term, unified vision for development.”
By stepping into this new initiative, CDG reasserts its strategic role within Africa’s financial ecosystem. The group’s participation reflects both its capacity to drive systemic change and its commitment to mobilizing long-term capital in ways that serve not just national, but continental ambitions for inclusive and resilient growth.
