Tag: pensions industry
The COVID-19 has been ravaging different sectors of the economy and the pensions industry has not been spared. From a reduction of pension contributions to members withdrawing their savings, the situation has not been pleasant. Axis Pensions CEO, Eric Quartey joins CNBC Africa for more.
Monthly data from Nigeria’s pensions industry shows that the country’s total pension fund assets stood at 10.6 trillion naira as at April this year with Federal Government Securities weighing 66.25 per cent of the total pension fund assets. The data also showed that new retirement savings account grew 85 per cent less in April 2020 compared to the same period in 2019. Pabina Yinkere, Chief Investment Officer at Sigma Pensions joins CNBC Africa for more.
The recent growth in the African pensions industry has created opportunities to fund the long-term investment in infrastructure and other sectors that the continent so desperately needs. For more CNBC Africa is joined by Axis Pensions Chief Executive Officer Eric Quartey.