The Pension & Development Network is looking for succesfull candidates to assist the Kenyan MFI Pamoja Women Development Programme (PAWDEP) with developing and implementing a micro-pension scheme in Kenya.

PAWDEP, a Kenyan MFI with 48.000 clients (all women) in five Kenyan provinces, is mainly active in the field of micro-credit. As a partner of Oikocredit, PAWDEP has recently received a loan of €801.000 in order to further finance its micro-credit activities. Together with the Zimele Asset Management Company Limited (a licensed Kenyan fund manager), PAWDEP is currently exploring the possibilities for developing and implementing a micro-pension scheme.

Julius Chenge, director of PAWDEP, describes his plan for a micro-pension scheme as followed: “Pension schemes in Kenya are required to have three distinct service providers, a fund manager, a custodian and a trustee. The Zimele Pension Plan is managed by Zimele Asset Management Company Limited as fund managers (they are licensed to offer this service), the custodian is a leading commercial bank in the country, Kenya Commercial Bank and the trustee is another commercial bank, National Bank of Kenya. Zimele Asset Management also provides pension administration services to the pension scheme. The Zimele Pension Scheme accepts payments beginning from Kshs250/-, making it affordable.”