Zamara starts mass roll out of its Fahari retirement plan
By Jacktone Lawi, March 18, 2022Financial services provider Zamara Group and the Kenya National Federation of Jua Kali Associations (KNFJKA), have started a countrywide rollout of pension plan targetted at the informal sector. The Fahari Retirement has been rolled out nationally after pilot programmes across Nairobi, Machakos, Kiambu, Nyeri and Kisumu counties.
Speaking to Business Hub Zamara Group chief cxecutive, Sundeep Raichura said the team enrolled around 10 per cent of the registered Jua Kali members in various associations in the past three months.
“Through the pilots, we have learned a lot about the needs of the Jua Kali sector members and are confident that our suite of integrated digital financial solution we are offering, that includes financial literacy, goal-based savings and insurance solutions, shall help transform the sector and inculcate a savings culture among members,” he said.
In November last year, Zamara Group and KNFJKA signed a Memorandum of Understanding to drive financial inclusion to the informal sector to enable saving and protection from old-age poverty and pertinent risks that come along with it.