People’s Pension Holdings (PPH)



People’s Pension Trust Ghana (PPT), a subsidiary of People’s Pension Holdings (PPH), is a pension administrator licensed by the Ghanaian National Pension Regulatory Authority (NPRA) to distribute pension products to informal workers and low-income formal workers. It is an innovative, flexible, and digitally driven pension product that ensures retirement income security for these workers.

Investment Details


People’s Pension Holdings (PPH)


Driving pension finance for lowincome households


Digital payments and micro-pensions



In portfolio since


Our role

Committed capital: £0.86 M Instrument:
  • Equity – £0.28 M
  • Convertible loan £0.5 M
  • Grant of £0.075 M

Our investment

  • FSDAi invested in the early-stage investment rounds of PPT providing patient capital to an innovative, technology-driven and customer-focused pension solution for informal workers in Ghana – a solution with the potential to be replicated in other markets.
  • We provided a grant to support product innovation, facilitate the adoption and usage of the PPT product, and introduce an insurance product that will enhance scale in prioritised markets.

Purpose and target market

  • The investment seeks to support the development of micro-pension financial services aimed at informal workers, providing them with a source of income in their old age. With a sizable market opportunity for this product, PPT intends to prove the commercial viability of the micro-pension business model. With patient capital, PPT is making steady progress in growing AUM on the back of its IT platform which is designed for low-value, high-volume transactions, as well as strategic market partnerships.
  • Micro-pensions have the potential, as an untapped market for long-term finance, to contribute to broader capital markets development through pension fund investments.
The People’s Pension Holdings business model is based on addressing the main causes of financial exclusion of workers in both the formal and informal sectors. We do this by developing innovative, flexible, and digitally driven products to improve accessibility and economic empowerment. Our ambition is to utilise technology and capital as forces for good to build a better world; providing our members with financial security for a better today and tomorrow. Saqib Nazir, Chief Executive Officer PPT Ghana

Impact to date

23,460 Number of active clients

82% Proportion of clients in the informal sector

1 Policy to support micro-pensions refined developed or enacted in Ghana following advocacy by PPH and others

£1.3M Assets Under Management (3.7x growth (in LCY terms) since investment)

Investee contacts

No.5 Sam Nujoma Close,
North Ridge Adjacent the Visa Section of the German Embassy,
Accra, Ghana

+233 302 738242

FSD Africa contact

Riverside Green Suites (Palm Suite),
Riverside Drive,
Nairobi, Kenya

Updated: September, 2023