Digital platforms tapped to bring Africa’s informal workers into pension schemes

Fishermen prepare their boat and gear along the Indian Ocean shore in Dar es Salaam before setting out for a fishing expedition. PHOTO | FILE

Dar es Salaam. Africa is moving to overhaul its pension systems in a historic shift aimed at bringing informal workers, who make up the overwhelming majority of the continent’s labour force, into retirement savings schemes through digital micro-pension platforms.

The decision was reached during the All-Africa Pension Summit held at the Speke Resort Convention Centre in Kampala, where pension fund heads, government representatives and multilateral institutions agreed that pension reform in Africa can no longer focus solely on investment returns.