People’s Pension Trust has received funding of US$300,000 from Draper Richards Kaplan Foundation (DRK) in support of its efforts to promote financial inclusion by providing informal workers with innovative pension products and services.
People’s Pension will utilize the funds to design products, specifically, to boost inclusion in economic and social protection schemes.
These groundbreaking products and channels will be built using behavioral science, human-centered design, data analytics and artificial intelligence, to serve the target group mainly made of underserved citizens such as taxi drivers, market women, small scale farmers etc.
In line with DRK Foundation’s endeavors to impact the world positively through early funding and rigorous support of exceptional leaders and organizations tackling some of the world’s complex problems, People’s Pension’s efforts over the years have been geared towards eradicating old age poverty especially among women.
It does this mainly through campaigns and programs that leverage on technology to boost economic growth by helping workers save towards a financially sound retirement.
Speaking on the funding, Kanini Mutooni, managing director of DRK said, “This is the moment DRK was built for. To find, fund and support organizations that will make a difference in the here and now and can scale to make that difference matter. We are therefore thrilled to have People’s Pension Trust as one of the latest additions to our portfolio; they are building a solution that has the potential to impact millions of lives in Africa.”
“At People’s Pension, we remain committed to ensuring that workers, especially women and underserved constituents have a better tomorrow not just in Ghana but across the region. CEO of People’s Pension Trust, Saqib Nazir further explained that, “The support and partnership we have received from DRK will therefore go a long way in building our capacity to carry out our vision as well as maximize our impact.”
People’s Pension Trust is a licensed Corporate Trustee that provides innovative, flexible, and digitally driven pension products to both individuals and companies in Ghana.
It focuses mainly on the over 80% informal workers who have no access to retirement services.