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3i Africa Summit: Push for More Attractive Pension Offers

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Angela Mensah Poku In A Panel Discussion
Angela Mensah Poku In A Panel Discussion

Angela Mensah Poku, Chief Enterprise Business Officer of MTN Ghana, has urged insurance and pension providers to enhance the appeal and viability of pension plans. Speaking at the Mobile Technology for Development session during the 3i Africa Summit in Accra, Mensah Poku highlighted Ghanaians’ reluctance to enroll in insurance policies and pension schemes, often due to a reliance on divine provision during retirement.

 

She also pointed out that the way these schemes are presented can be a barrier, with sales pitches often containing deceptive promises aimed at meeting sales targets rather than genuinely addressing individuals’ needs. Mensah Poku emphasized the importance of proper education for sales personnel and honesty in their approach to building public trust in these schemes.

To make pension and insurance enrollment more accessible, Mensah Poku suggested integrating these products into existing services that people already use, such as airtime and data. She referenced MTN’s subsidiary, aYo Insurance, which allows customers to purchase life, hospitalization, and motor insurance policies using airtime or mobile money.

This initiative offers affordable options starting from as low as GHS6 per month, providing significant coverage for life and hospitalization expenses. Additionally, small groups of up to seven individuals can purchase policies, offering substantial benefits in case of a group member’s demise.

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