It is with deep shock and great sadness that we hear of the passing of a great African hero, pioneer for humanity and visionary, Chancellor Samuel Waterberg. Samuel was the CEO and founder of People’s Pension Trust (PPT), the Ghanaian subsidiary of People’s Pension Holding (PPH). PPT provides pension products to informal workers (from 16 to 60 years of age) as well as low-income formal workers. Since it started operations in 2016, PPT has grown under his leadership to reach over 42,000 members at the point of his untimely passing.
Samuel Waterberg had a vision, to provide savings solutions for informal workers so that they would have an income source in their old age. Quoting one of his clients: “I joined [PPH] because pension is important for everyone. We all need something to rely on when we retire. I also joined because of my children. They are my beneficiaries. So, if I am not there, they will have someone to depend on.”
FSD Africa Investments funded PPH because we believed in the transformative potential of PPT in providing a financial safety net and dignity to poor households in Ghana as they reached retirement age. We backed a committed team, led by Samuel, to demonstrate the business feasibility of financial innovation that makes a real difference to poor people’s lives.
His passing is a great loss for those that loved and worked with him, and for the financial sector community in Ghana and beyond. The whole of the FSD Africa family extends its deepest condolences to his family, his friends and all his colleagues at PPT, PPH and beyond. He left his mark on humanity and touched many lives with humility and devotion. May Samuel rest in peace and his legacy live on.