People’s Pension Trust
Reduces old-age poverty by offering flexible and high-quality pension products for both formal and informal sector workers in Ghana.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor | €0.0 | round | |
£220k Valuation: £2.5m | Seed | ||
| Total Funding | 000k | ||
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People’s Pension Trust (PPT), founded in 2016 by Samuel Waterberg, is a corporate trustee licensed by Ghana's National Pensions Regulatory Authority. The company operates as a subsidiary of the Netherlands-based People's Pension Holdings and focuses on mitigating old-age poverty by providing pension schemes primarily for Ghana's informal sector, which constitutes over 85% of the workforce. The current CEO, Saqib Nazir, is a FinTech entrepreneur with extensive experience in developing technology solutions for financial inclusion in emerging markets. His background includes founding Interpay, a payment processor, and developing a mobile money platform, reflecting the company's digital-first approach.
The firm’s business model centers on offering accessible, digitally-driven pension products. It specifically targets underserved workers like smallholder farmers, drivers, and market women who have historically lacked access to retirement savings. Revenue is generated through the administration of these pension schemes. The company provides a flexible personal pension plan (Tier 3) that allows for daily, weekly, or monthly contributions via mobile devices or community organizations, addressing the irregular income streams common in the informal economy. In addition to individual plans, PPT also offers occupational (Tier 2) and group personal pension schemes, alongside retirement advisory services.
A key feature of its product is the flexibility in contributions and the ability for members to access a portion of their savings for immediate needs. This structure is designed to build financial resilience among low-income workers. To enhance its offerings and reach, PPT secured £500,000 in funding from FSD Africa Investments in late 2020 to develop new products using behavioural science, data analytics, and artificial intelligence. The company has also partnered with the Swiss Capacity Building Facility (SCBF) to launch the 'Scaling Gender-Focused Financial Resilience' (SGFR) program, which aims to enroll 100,000 new customers, with a focus on female entrepreneurs. With ambitions to expand its model regionally, PPT aims to provide income security for one million customers in the coming years.
Keywords: micro-pension, financial inclusion, Ghana, informal sector, retirement savings, pension administration, FinTech, mobile payments, asset management, social security, West Africa, digital finance, pension fund, financial services, retirement planning, savings, old-age poverty, trustee services, emerging markets, gender-focused finance