The Mbao (Kshs 20-a-day) or National Jua Kali Pension scheme which targets jua kali (or informal sector workers) artisans was developed by the National Federation of Kenya Jua Kali Associations and the Retirement Benefits Authority (RBA).
The individual pension plan is registered by both the Kenya Revenue Authority (KRA) and RBA as Blue MSMEs Jua Kali Individual Retirement Benefit Scheme, which therefore allows it to run retirement plans for individual members.
The Mbao scheme is a voluntary pension savings program aimed to help people save for retirement, with the name ‘Mbao’ derived from the minimum Kshs 20 daily contribution that registered make to offer them a reliable income when they eventually retire from their jobs or businesses.
The common characteristics of the Jua Kali sector are that most are small-scale operations with individual or family ownership; players in the sector have no access to institutional credit facilities or other support and protection mechanisms; experience seasonal incomes and workers are generally not issued with pay slips.
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