Moniepoint's TeamApt Partners Awabah to Expand Pension Access for Nigeria's Informal Sector

TeamApt Ltd., a subsidiary of Moniepoint Inc., has entered into a strategic partnership with Awabah to bring pension services to millions of Nigerians working in the informal economy.The collaboration aims to address the significant gap in retirement savings access for Nigeria's large informal workforce, which has traditionally been excluded from formal pension schemes.Through this partnership, Moniepoint's extensive network and technological infrastructure will be leveraged to onboard informal sector workers onto pension platforms, making it easier for market traders, artisans, and other self-employed individuals to save for retirement.Awabah brings expertise in pension administration and micro-pension solutions to the partnership, creating a comprehensive offering tailored to the needs of informal workers who often have irregular income patterns.The initiative represents a significant step toward financial inclusion in Nigeria, where the informal sector employs the majority of the working population but has limited access to social security and retirement planning services.Industry analysts see this move as part of a broader trend among fintech companies to expand beyond basic financial services into wealth management and long-term financial planning products for underserved market segments.