Awabah, a Micro-financial services aggregator has expanded its operations to Kwara State.
In a series of events taking place between December 3 and 10, the PensionTech startup commissioned more than 100 micro pension agents and registered over 1000 new customers into the micro pension scheme.
During the week-long trip to Kwara, Awabah was present at the Kwara Trade Fair, organized free training for the unemployed through the Awabah Empowerment and Skill Acquisition Programme, and completed an agent activation drive across the state. This saw the Awabah team visiting locations in seven local governments of the state.
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With the micro pension plan recording dismal growth three years after its inception, Awabah is set to capture the market with its agency pension initiative. To reach the financially excluded, Awabah agents are trained and sent into their communities, where they register those interested in the scheme. In addition to onboarding new customers, the commissioned agents also serve as collectors for retirement contributions.
Since its inception in November 2020, Awabah has established partnerships with the leading Pension Fund Administrators (PFAs) in Nigeria and has successfully registered over 12,000 new micro pension enrollees. This expansion drive comes on the heels of the company’s mission to register 150,000 new users into the micro pension scheme next year. Awabah has established operations in Lagos and Oyo states and is set to take on Ekiti in the new year.
