Accra, Ghana, 4th February 2021 – 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. 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, 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.”
About Draper Richards Kaplan Foundation
Started in 2002, Draper Richards Kaplan Foundation (DRK) is a global venture philanthropy firm supporting early stage, high impact social enterprises. Borrowed from its venture capital legacy, DRK finds, funds, and supports exceptional leaders building innovative solutions to some of the world’s most challenging problems. Since beginning this work nearly 20 years ago, DRK has invested in more than 180 organizations who have collectively impacted over 150 million lives to date.
To learn more about DRK Foundation, please visit: www.drkfoundation.org