People’s Pension Trust has received funding of USD300,000 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 for underserved citizens such as taxi drivers, market women, and small-scale farmers among others.
Persons in the informal sector, especially women will be sensitized through campaigns and programs on the need for funding towards a financially sound retirement.
These groundbreaking products and channels will be built using behavioral science, human-centered design, data analytics, and artificial intelligence, to serve the target group.
In line with DRK Foundation’s endeavors to impact the world positively through early funding, People’s Pension’s efforts over the years have been geared towards
eradicating old-age poverty, especially among women.
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 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.”
Chief Executive Officer 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.”