Browsing: pension funds in Nigeria

The informal sector in Zimbabwe must show will and readiness to formalize. Vendors selling in Harare, Zimbabwe.

Zimbabwe’s dual economy, the formal and informal sectors, have become two distinct economies in Zimbabwe. With the former vulnerable to complex tax regimes and inconsistent monetary policies, the latter has no regard for both.

In some circles, the informal sector has been referred to as the grey economy, shadow economy, underground economy, parallel sector, and the cash economy.

  • Econet Life, an EcoCash Holdings Zimbabwe insurance unit, has launched a unique micro-pension fund product that allows people in the informal sector to save for retirement
  • The new product, called Dura/Isiphala Pension Fund, was launched in Kariba at the weekend and is expected to drive the uptake of pensions by workers in the informal sector
  • Meanwhile, on March 27, 2019, President of Nigeria Muhammadu Buhari launched the Micro Pension Plan (MPP) as part of his administration’s efforts to ensure that Nigerians who worked hard during their active years in service of their