Ghana’s pensions industry is one of the fastest growing in the world, while the country’s penetration of financial products remains relatively low.

Petra Trust offers employer schemes, master trusts and retail products to serve an emerging market of consumers hungry for growth and prosperity, many of whom are ‘informal’ workers or self employed.

Petra’s answer to this unmet need was its Savings Booster, a long-term “flexible savings plan” that became the flagship product of its consumer distribution business. In 2018, Savings Booster had sales amounting to more than ¢GH30 million in assets under management.

Key to reaching the informal sector was digital technology, meaning Petra could use mobile and online services to reach the self-employed with its products and collect data to continue improving its services.