A financial sector that works for consumers has a suite of products and features that are suitable to consumers’ needs, are safe from cybercrime and that protect consumers’ privacy. Ideally, empowered consumers exercise an informed choice, understand the information disclosed to them, and have their voice heard in their interaction with financial services providers and agents.
The reality is often different. Cenfri’s consumer outcomes work aims to bridge the gap. We have worked with Consumers International, CGAP, GIZ, FSD Kenya, FSCA South Africa and the SADC Secretariat. Our track record includes policy briefs, regional consumer protection guidelines, financial inclusion measurement, measurement of consumer outcomes, and country-level consumer protection technical assistance.
We also have a significant body of work on behavioural science and its application in the financial sector.
Consumer outcomes: the holy grail. If you think about it, consumer protection is the ultimate raison d’être of all financial sector regulation. But what is “success” in consumer protection? The approach to financial consumer protection regulation has evolved over time. In recent years, more regulators have started to shift from a
Consumers face several frustrations with the potential to affect their experience of digital financial services. These include system glitches, inappropriate design, fraud, cybercrime, data breaches, opaque pricing, and more. The Digital finance: The consumer experience, 2023 report, which Cenfri developed for Consumers International, provides an assessment of the scale of
In January 2026, Tools for Humanity was reported to have deleted sensitive personal data it had unlawfully collected from Kenyans. This followed a High Court ruling and multi-agency investigation into Tools for Humanity’s data processing practices, after it gathered Kenyans’ iris scans and other sensitive personal data in exchange for
This blog series was written as part of GIZ’s Governance of Digital Finance project. Women across Sub-Saharan Africa (SSA) are driving economic growth, with women-led businesses contributing approximately 13% to Africa’s total GDP. Digital financial services (DFS) play a key role in supporting their contributions. However, several challenges continue to
This blog was written as part of GIZ’s Governance of Digital Finance project. Blog 2 of 3. In our previous blog, we noted that despite increased access to mobile phones and identity documentation (IDs), women in sub-Saharan Africa remain less likely to hold a formal financial or mobile money account.
This blog was written as part of GIZ’s Governance of Digital Finance project. Blog 3 of 3. Women-owned MSMEs (WMSMEs) create an estimated 18 million jobs across the continent and contribute approximately 13% to Africa’s total GDP. Within the broader WMSME landscape, cross-border trade represents a crucial yet often overlooked
Too often, financial systems overlook the lived realities of women, leading to products, policies, and market structures that do not adequately serve them. In an effort to change this, Cenfri applies a gender lens across its financial inclusion and market diagnostics work. We have developed a portfolio of related work
The rapid growth of digital financial services (DFS) has broadened access to formal financial services across Africa. However, it has also exposed consumers to rising risks in digital environments, including fraud and cybercrime. These developments mean that countries must strengthen traditional financial consumer protection frameworks and incorporate additional safeguards tailored
AI is reshaping every part of public life, from how governments analyse information to how they design public services. Countries across the world are grappling with the implications of these technologies, and Rwanda is investing early in the institutional capability required to govern them responsibly. The Ministry of ICT and
For those in development, 2025 has been a bit of a wild ride and many organisations have been doing some introspection. The team at Cenfri has been thinking about how we can continue to pursue evidence-driven impact, financial independence and sustainability with an inspired, capable and purpose-driven team (our enduring
Following our earlier post on the complexity of liability in the digital financial system, this article looks more closely at the challenges of existing arrangements and the new approaches emerging in some markets. As fraud and scam activity continues to rise, particularly in Africa’s fast-growing digital economies, regulators face the
