myStash

Nigeria | Over 90% of all employment in Nigeria is informal. These informal workers are not enrolled in the National Pension scheme, hence, they have no pension benefits and are unable to build financial safety nets for times of emergency and towards retirement. myStash is a digital tool that enables informal economy workers to autosave a percentage of whatever they earn. The platform enables these otherwise excluded informal workers to plug into a micro-pension scheme and be able to build financial safety nets whilst also earning interest on their savings. In addition, their saving habits are used to credit score them, giving them accelerated access to loan services. This is a great additional benefit given that 41% of these informal workers are women, many of whom are unable to access loans because they do not have collateral such as land or other valuable assets.

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