In 2015, The New York State Common Retirement Fund, one of the largest US Pension Funds began investing in Africa-- with plans to invest as much as 3% of its assets on projects on the continent in the next five years to diversify its portfolio and boost returns. The New York City Employees Retirement System (NYCERS) may be following suit, according to Gregory Floyd, president of the International Brotherhood of Teamsters Local 237 union and a NYCERS trustee.

In this episode, Floyd discusses NYCERS’ investment possibilities in Africa and why he is committed to making it happen.

• Two years ago, the National Association of Securities Professionals (NASP) and USAID signed an investment partnership for “Mobilizing Institutional Investors to Develop Africa’s Infrastructure” or “MiDA.” The initiative seeks to facilitate and expand opportunities for infrastructure investments in Sub-Saharan Africa for investors seeking higher returns while making an impact on development and advancing U.S. interests in the region (https://nasphq.org/africa-initiative/)
• Floyd was among the U.S. delegation that participated in one of the first USAID/NASP-sponsored trips to Africa to discuss investment opportunities with Asset Managers, financial and banking professionals, and high-ranking government ministers in several African countries.
• The US delegation included fund trustees from Maryland, California, Virginia, New York, and Philadelphia, as well as a cross-section of business leaders and investors.
• NASP is the premier organization that helps Blacks, ethnic minorities, and women achieve inclusion in the financial services industry.
• Floyd stated: "Hopefully we can find a fund in Africa in one or two countries that we can invest in that will bring both good returns to our funds and also help Africa, whether it's in South Africa, Kenya Senegal, one of these regions, maybe even Nigeria.”