Africa | June 15, 2018

LeapFrog Investments takes stake in Nigerian pension fund manager ARM Pensions

Dennis Price
ImpactAlpha Editor

Dennis Price

ImpactAlpha, June 15 – Nigeria, a country of 200 million, requires companies to provide retirement plans to workers, yet 89% of those employed haven’t registered for one. In the past nine years, pension assets have quadrupled to $22 billion. That makes pensions one of the fastest growing segments in Nigeria’s financial industry.

ARM Pension has $1.8 billion in funds under management and reaches 700,000 people. LeapFrog did not disclose the amount of its investment but typically invests in the range of $10-50 million.

In February, LeapFrog exited another West African pension company, Petra Trust, after helping the firm achieve 76% average compound annual revenue growth over the course of acfour-year investment period to become Ghana’s largest independent pension provider.

Since 2007, LeapFrog has invested more than $1 billion in companies in Asia and Africa that reach more than 125 million emerging consumers with financial services and healthcare.