Premasis Mukherjee Senior Financial Sector Specialist United Micro-pensions for Overseas Migrant Workers William Joseph Price Chief Executive Officer, D3P Global.Anindita Chakraborty Inclusive finance specialist, Center for.Making Pensions Work for Women Mayada Elzoghbi Managing Director, Center for Financial Inclusion.Edwin Sikaitwa Head of Inclusive Insurance, FSD Zambiaĭesigning targeted micro-pension solutions Zambia Engwase Mwale Chief Executive Officer, FSD Zambia.Joseph Lutwama Director of Programs, FSD Uganda Nsubuga Chief Executive Officer Uganda Retirement South Africa Olano Makhubela Divisional Executive, Retirement Funds Supervisionįinancial Sector Conduct Authority (FSCA), South AfricaĪlvinah Thela Director, Retirement Savings National Treasury,.Regis Hitimana Chief Benefits officer, Rwanda Social Security Board (RSSB) Ministry of Finance and Economic Planning, Government of Rwandaĭr. Herbert Asiimwe Director General, Banking and Non Banking Sector Regis Hitimana Deputy Director General in Charge of Benefits Rwanda Agnes Uwanyiligira Chief Programs Officer, Access to Finance Rwandaĭr.Isaiah Owolabi Chief Executive, EFInA, Nigeria Umar Farouk Aminu, Commissioner, National Pension Commission (PENCOM), Nigeria Richard Muteti President, Jua Kali Federation, and CEO, Confederation of MSMEs for East Africa Kenya Sundeep Raichura Group Chief Executive Officer, Zamara.Ghana Hayford Attah Krufi CEO, National Pension Regulatory Authority (NPRA) Ghanaĭr John Ashcroft, Director, JA Pensions Consulting.We believe that the book and associated dissemination efforts will foster collaborative and cooperative efforts on pension inclusion, and help develop a replicable digital model that will make saving for old age easy and simple for each excluded worker in each African nation.Įxpanding Pension Coverage to Informal Sector Workers: Policy Outlook and Recent Country Experiences The release of the book will coincide with the launch of a roadshow involving workshops and seminars in some countries across Africa. ![]() pinBox will release this volume at a global policy-roundtable in mid-2023. ‘Templatizing microPensions for Africa’ is a collaborative effort by 25 forward looking policymakers, regulators, aid agencies, pension sector experts, and DFS ecosystem stakeholders. ![]() Hence lessons from both success and failure in pension policy and system design, as well as implementation may be highly portable from one country to another within Africa. Importantly, many African nations are remarkably similar to each other in terms of demography, incomes, economic strength, labor markets, history, culture, legal and political structures, and governance. This could in turn fuel economic growth, infrastructure development and employment across the Continent.Ī number of countries across Africa are therefore actively contemplating or implementing new, contributions-led micro-pension programs aimed at achieving broad based social protection, and to reduce vulnerability in old age for their excluded citizens. On the other hand, if even 10% of the presently excluded workers began saving a Dollar a day for their old age, they could collectively generate roughly $500 billion in new, long-term savings within the next decade. At that time, the cumulative fiscal cost of a tax funded lifelong pension of even $1 a day to these future elderly could be a staggering ~$1.7 trillion. With increasing life expectancy, a break-down in joint family support systems, and pension exclusion, each of them faces the grim prospect of living in extreme poverty for over 20 years after they are too old to work.Īs per the UN, Africa will experience the fastest growth in its elderly population - growing from 69m in 2017 to 226m by 2050. Over 600m young informal sector workers across sub-Saharan Africa are not eligible for pension benefits.
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