PEOPLE'S PENSION HOLDING (FMO-56503)

Countries
  • Ghana
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Sep 17, 2019
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
People’s Pension Holding (PPH)
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 0.17 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 0.15 MLN
Converted using 2019-09-17 exchange rate.
Bank Documents
Primary Source

Original disclosure @ FMO website

Updated in EWS Apr 3, 2020

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Project Description

The project aims to enable PPH to continue developing micro-pension funds for the informal sector in Africa, starting with Ghana's People's Pension Trust. This project is closely aligned with the Massif strategy, in this case specifically around the financial inclusion of informal workers. Their financial health will be improved through access to an appropriate savings and pensions product, improving their ability to plan for their old age.

Investment Description
  • Netherlands Development Finance Company (FMO)
Contact Information

South Africa
+27 11 507 2500
joburg-office@fmo.nl

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism