Fintech startup, Awabah, has set a target to onboard one million new personal pension subscribers by the end of 2026 by taking pension services directly to Nigeria’s informal sector through Point of Sale agents.
The Chief Executive Officer and co-founder of the company, Tunji Andrews, disclosed this during the unveiling and demonstration of its ‘Pension Direct’ initiative in Lagos on Thursday.
Developed in partnership with TeamApt and powered through the Moniepoint POS network, the initiative enables traders, artisans, transport operators, gig workers, and other informal-sector players to register for pensions and automate contributions without relying on smartphones or banking halls.
Andrews stated that the core strategy was to bring pensions to everyday neighbourhoods and transaction points where millions of Nigerians already conduct daily financial activities.
nder the arrangement, prospective contributors can visit any participating POS location, select a Pension Fund Administrator, submit basic details, and choose a preferred contribution schedule.
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