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
Digitalisation per se has marginal impact; the crux is the way it is leveraged and implemented. We need a better understanding of how digital transformation could create welfare-enhancing societal outcomes. Where does the impact break down and why? What are the risks of negative impacts and how to manage societies’
Fintechs have the potential to significantly improve the options available to financially underserved individuals. Many fintech start-ups in Africa, however, struggle to reach the scale and level of maturity that would make them viable alternatives to the offerings from traditional financial service providers. This is particularly true for fintechs launched
Digital financial services are transforming global financial service provision and access. Rapid developments in fintech are disrupting and transforming financial landscapes worldwide, leading to new partnerships, including those with traditional financial service providers, to better serve existing customers and reach previously underserved consumer segments. However, the benefits of DFS are
A diagnostic study on women cross-border traders between South Africa and Lesotho, Malawi and Mozambique Informal cross-border trade plays a significant economic role in the Southern African Development Community (SADC), making up an estimated 30-40% of total intra-regional trade. It is valued at an estimated USD (United States Dollar) 17.6
Education is of fundamental importance to Rwanda’s economy; and the country has high policy priorities in providing access across the country. Primary and secondary education are free but there are other costs such as contributions to the school feeding programmes, books, etc. The education sector faces various challenges including low
Agriculture is the largest sector in the Rwandan economy, with 75% of the adult population generating their livelihoods from the sector. Its contribution to GDP and export earnings is substantial, accounting for 26% of Rwanda’s GDP value added in 2020. As part of the Rwanda Economy Digitalisation Programme, we conducted
In the past decade, the government of Rwanda has made significant investments in the tourism sector, positioning it as a vital driver of economic development and decentralization, catering to both domestic and international visitors. As part of the Rwanda Economy Digitalisation Programme, we conducted a landscaping study of the tourism
In today’s tech-driven world, data has become the compass guiding industries toward innovation and growth. Rwanda’s tourism sector stands poised for this transformation and is harnessing data to unlock its fullest potential. In an exclusive interview, we sit down with Hennie Bester, Director of programmes. Drawing from his vast experience,
Almost half of Sub-Saharan Africa’s trade every year – USD 362 billion of merchandise trade – settles in US dollars, despite the US accounting for less than 10 percent of Africa’s total trade in 2019. We believe that informal trade is even more dollar-based. This begs the question: what drives
