Firm targets casual workers with Sh1 pension product

Pension coverage currently stands at 20 percent. FILE PHOTO | NMG

Financial services provider Octagon Pension has launched a mobile-based savings plan as it eyes one million informal sector workers by August next year.

Octagon chief executive Godwin Simba said the product, dubbed Mobikeza, will allow individuals to save as little as Sh1 through their mobile phones. The product also allows individuals to make withdrawals after 14 days.

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