{"id":66490,"date":"2023-07-02T21:40:26","date_gmt":"2023-07-02T21:40:26","guid":{"rendered":"https:\/\/startup.info\/?p=66490"},"modified":"2023-08-14T21:07:53","modified_gmt":"2023-08-14T21:07:53","slug":"mazimaretirementplan","status":"publish","type":"post","link":"https:\/\/www.bonjouridee.com\/en\/mazimaretirementplan\/","title":{"rendered":"Mazima Retirement Plan : a Retirement Saving Plan suitable for the informal sector"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\" style=\"color: #000000;\"><b>  <\/b><\/span><\/p>\n<p><span style=\"color: #000000;\">My name is<strong> Livingstone Mukasa<\/strong>, am a seasoned entrepreneur, <\/span>coach<span style=\"color: #000000;\"> and mentor. I was born and grew up in poverty but broke through by running a successful cleaning business. Over the last decade, I have helped more than 20,000 people start small businesses. I was challenged by some of my students to write a book about preparing for retirement in the Ugandan context (similar conditions in other Sub-Saharan African Countries) and ended up authoring a book &#8220;Investing for the Future&#8221; that eventually led to starting <span style=\"color: #ff6600;\"><strong>Mazima Retirement Plan<\/strong><\/span>.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\" style=\"color: #000000;\"><b>Link to online video\u00a0\u00a0<\/b><\/span><\/p>\n<div class=\"boombox-responsive-embed \"><iframe loading=\"lazy\" title=\"The beginning of Mazima Retirement Plan\" width=\"1160\" height=\"870\" src=\"https:\/\/www.youtube.com\/embed\/F22NcZeZqbI?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe><\/div>\n<p class=\"p1\"><span class=\"s1\" style=\"color: #000000;\"><b>Your products and services\u00a0<\/b><\/span><\/p>\n<p class=\"p2\"><span style=\"color: #000000;\">We offer a Retirement Saving Plan suitable for the informal sector that makes 85% of <em>Uganda<\/em>&#8216;s workforce with flexible entry, <\/span>contributions<span style=\"color: #000000;\"> and exits.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\" style=\"color: #000000;\"><b>Your success factors<br \/>\n<\/b><\/span><\/p>\n<ol>\n<li><span style=\"color: #000000;\">Increasing Life Expectancy.<\/span><\/li>\n<li><span style=\"color: #000000;\">More people (85% or more) are self employed or working in the informal sector and are unable to join the formal pension plans.<\/span><\/li>\n<li><span style=\"color: #000000;\">Technology especially Mobile Money is making it possible to mobilize small savings at a large scale.<\/span><\/li>\n<li><span style=\"color: #000000;\">Conducive regulatory environment.<\/span><\/li>\n<\/ol>\n<p class=\"p1\"><span class=\"s1\" style=\"color: #000000;\"><b>Your factors differentiating and disruptive compared to the existing\u00a0<\/b><\/span><\/p>\n<p><span style=\"color: #000000;\">Before we launched in the Ugandan market, it was relatively considered impossible or not economical to serve the informal sector with pension\/long term saving plan. With 17 million people in the workforce, the existing players were happy to serve only 2 million. <em>Mazima Retirement Plan<\/em> has made possible for anyone wanting to save for retirement in Uganda can join and save as per their ability.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\" style=\"color: #000000;\"><b>Your business model\u00a0\u00a0<\/b><\/span><\/p>\n<p class=\"p2\"><span style=\"color: #000000;\">We charge $3 as membership on\u00a0 Entry and 2% on Assets Under Management. We hope to break even on a fund value of $1,000,000.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\" style=\"color: #000000;\"><b>A few words about your competitors<\/b><\/span><\/p>\n<p class=\"p2\"><span style=\"color: #000000;\">The Market is dominated by the Mandatory Pension Fund called the National Social Security Fund with 1.5 million Subscribers and a fund of $2 billion but this fund is encumbered by existing laws that do not give it much wiggle room in mobilizing voluntary retirement contributions. There also several insurance companies offering life insurance and in-house provident schemes.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\" style=\"color: #000000;\"><b>Your website\u00a0<\/b><\/span><\/p>\n<p><span style=\"color: #000000;\">www.mrp.co.ug<span class=\"s1\">\u00a0<\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>My name is Livingstone Mukasa, am a seasoned entrepreneur, coach and mentor. I was born and grew up in poverty but broke through by running a successful cleaning business. Over the last decade, I have helped more than 20,000 people start small businesses. I was challenged by some of my students to write a book&#8230;<\/p>\n","protected":false},"author":4,"featured_media":66483,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1737],"tags":[],"class_list":["post-66490","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/www.bonjouridee.com\/en\/wp-json\/wp\/v2\/posts\/66490","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bonjouridee.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bonjouridee.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bonjouridee.com\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bonjouridee.com\/en\/wp-json\/wp\/v2\/comments?post=66490"}],"version-history":[{"count":2,"href":"https:\/\/www.bonjouridee.com\/en\/wp-json\/wp\/v2\/posts\/66490\/revisions"}],"predecessor-version":[{"id":218159,"href":"https:\/\/www.bonjouridee.com\/en\/wp-json\/wp\/v2\/posts\/66490\/revisions\/218159"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bonjouridee.com\/en\/wp-json\/wp\/v2\/media\/66483"}],"wp:attachment":[{"href":"https:\/\/www.bonjouridee.com\/en\/wp-json\/wp\/v2\/media?parent=66490"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bonjouridee.com\/en\/wp-json\/wp\/v2\/categories?post=66490"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bonjouridee.com\/en\/wp-json\/wp\/v2\/tags?post=66490"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}