First WhatsApp Pension Scheme For Kenya Launched

Zamara Group has launched the first WhatsApp pension scheme for Kenyans as it aims on capitalizing on the large WhatsApp users in Kenya. The first of its kind, the product known as Fahari, enables Kenyans to opt-in and transact via WhatsApp.

The latest innovation will allow customers to open, access, and transact with Zamara’s Fahari Retirement Plan account via WhatsApp.

“With a reach of more than 12m users in Kenya — more than any other app in the country — using WhatsApp we are uniquely positioned to bring more people into the pensions and insurance ecosystem,” said Zamara Group Chief Executive Officer Sundeep Raichura Raichura.

WhatsApp is a hub for businesses and its usage is so integral to hundreds of millions of lives around the world. Kenya is the country with the highest usage of WhatsApp in terms of percentage.

Kenyans use WhatsApp to communicate with friends and family, get updates from community organizations, and — increasingly — connect with brands and businesses. As simple as it is, Zamara says it is making pensions easy, accessible, and simple for Kenyans.

WhatsApp, currently, is the world`s most popular messaging app, having over two billion active users.

“Using this platform, we will be able to reach the untapped market segments, particularly the youth and the informal sector, and enable them to access sachet-sized pension and insurance solutions through a simple, reliable, private and secure experience”.

The Fahari Retirement Plan is a fully digitized pension/savings solution that is accessible to any Kenyan through multiple channels including USSD code, Website, and Agents. And now through WhatsApp.

Fahari is registered with the Retirement Benefits Authority and the Kenya Revenue Authority. Any Fahari Retirement Plan transaction via WhatsApp is secured through end-to-end encryption for calls and messages.

Critical information such as your One-Time login Password (OTP), payment instruction, account balance, etc. will always be shared as an SMS to the member’s mobile number registered with the Fahari pension plan.