African Pension Funds Urged to Drive Energy Infrastructure Growth at G20 Africa Energy Investment Forum
The G20 Africa Energy Investment Forum, hosted by the African Energy Chamber (AEC), underscored the critical role African pension funds can play in closing the continent’s energy and infrastructure investment gap.
Speaking at the forum, NJ Ayuk, Executive Chairman of the AEC, urged African nations to mobilise domestic capital to meet rapidly growing energy demands.
“Millions of Africans still lack access to reliable energy – and that is a human rights issue,” Ayuk said.
“We need more than $15 billion in refinery investment alone. We cannot continue relying on external actors. Africa has $400 billion in pension funds, and we must channel this capital into closing the energy deficit and giving Africans a real fighting chance. Whether in renewables or oil, it’s time to innovate and get energy to the people.”
Ayuk also highlighted the need to empower young Africans to shape the continent’s energy future. “It starts with forums like this. We must protect investments, embrace our oil, gas and renewable resources, and industrialise.
The opportunities we create should uplift young people. It is time to pass the torch so they can lead and scale our progress.”
He stressed that while wealthy nations prioritise decarbonisation, Africa can leverage its pension funds strategically to drive industrialisation and long-term sustainable growth.
Nardos Bekele-Thomas, CEO of the African Union Development Agency (AUDA-NEPAD), reinforced this message, emphasising the scale of untapped domestic financial resources.
“By optimising the balance sheets of existing portfolios, governments can unlock billions without turning to external financing,” she said. “African pension funds hold $1.5 trillion in assets under management. We are working to channel even a fraction of this domestic capital into African infrastructure.”
The forum convened leaders from both the public and private sectors to explore innovative financing mechanisms, highlighting the urgency of leveraging African capital to meet the continent’s infrastructure and energy needs.
