Vice President Professor Naana Jane Opoku-Agyemang has called for urgent reforms to Africa‘s pension systems to ensure millions of workers, particularly those in the informal sector, retire with dignity and financial security.
Speaking at the opening of the 2026 Annual Conference of the Africa Pensions Supervisors Association in Accra, she urged African governments, regulators and financial institutions to adopt innovative approaches to expand pension coverage across the continent.
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The Vice President noted that although Africa remains the world’s youngest continent, its population aged 60 and above is projected to reach 226 million by 2040, making pension reform increasingly important.
She observed that fewer than 20 per cent of Africa’s workforce is covered by pension schemes, leaving nearly 85 per cent, mainly informal sector workers, without adequate retirement protection.
Professor Opoku-Agyemang said traditional pension models no longer reflect the realities of Africa’s labour market, where many people work in informal employment, hold multiple jobs or earn irregular incomes.
She called for the use of digital identification systems, mobile money platforms, financial technology and data-driven supervision to improve pension access and service delivery, while stressing the need for financially sustainable schemes that promote transparency and public confidence.
The Vice President also urged greater cooperation among African countries to ensure pension benefits remain portable under the African Continental Free Trade Area (AfCFTA), allowing workers to retain their retirement benefits across borders.
She outlined four key priorities for the continent: expanding pension inclusion, leveraging technology, strengthening cross-border collaboration, and promoting good governance and resilient institutions.
Professor Opoku-Agyemang said Africa’s future would be measured by how effectively it protects citizens who have contributed to national development throughout their working lives.
