Ghana’s recently liberalised pensions industry is one of the fastest growing in the world, and the country’s retirement industry is set to swell by 400% in the four years leading up to 2018. LeapFrog’s investment in Petra Trust is a recognition of this market potential as much as it is a vote of confidence in Petra’s dynamic leadership team.
The Petra team has a long shared history: Cofounders Kofi Fynn and Chris Hammond, and Head of Operations Helena Poku were school friends before studying in the US, at Harvard and MIT. Later they returned home to Ghana to start Petra, inspired by the social need for pensions, and the market opportunity this represented.
Launched in 2011, Petra was the first trustee approved and licensed by Ghana’s National Pensions Regulatory Authority in 2012. Today Petra is the largest independent pensions trustee in Ghana, and one of the two largest by assets under management.
Managing Director Kofi Fynn says “We are delighted to have LeapFrog as an investor. Their team offers strong pensions experience, decades of knowledge of our market and others in Africa, and a global perspective.”
Petra benefits from LeapFrog’s support in consumer research, marketing, governance and strategy and IT infrastructure.
“LeapFrog …offers strong pensions experience, decades of knowledge… and a global perspective.”
Kofi Fynn, Managing Director Petra Trust