Business

Informal sector members get pension

FROM left: NAPSA director general Yollard Kachinda, Ministry of Labour and Social Security Permanent Secretary Chanda Kaziya, International Labour Organisation country director George Okutho, Zambia Industrial Commercial Bank chief executive officer Ignatius Mwanza and Finland’s Deputy Ambassador to Zambia Jan Koivu presenting a K2 million cheque to 10 milk collection centres in Magoye, Mazabuka, yesterday. PICTURE: ANGELA NTENTABUNGA

KALONDE NYATI, Mazabuka
A PAYMENT solution for the informal sector has been launched to ensure easy payment of contributions as the country looks to bridge the existing gap in social security coverage.
The mobile payment solution, which will allow small-scale farmers to make social security contributions to the National Pension Scheme Authority (NAPSA), is part of the programme dubbed Social Protection for Informal and Rural Economy Workers (SPIREWORK).
SPIREWORK seeks to develop tailor-made insurance, pension and financial products for the informal sector such as small-scale farmers, domestic workers, bus and taxi drivers, market traders and sawmillers to secure their socio-economic well-being.
The development will also result in the first disbursement of micro-loans to eligible members with Zambia Industrial Commercial Bank (ZICB) setting up an initial fund of K2 million to support farmers in 10 milk collection centres.
The centres under the pilot project are in Southern and CLICK TO READ MORE



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