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
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
Fraud and scam activity is increasing in African economies, as more citizens access digital financial services and as incomes rise. The latest Findex results show that more than 30% of adults in Sub-Saharan Africa report having received scam or online extortion messages, well above the global average. At the same
Women-led nano and micro enterprises (WNMEs) are central to local economies and household livelihoods, yet they remain underserved by mainstream financial systems. This new CGAP report, Diverse Paths: Finance for Women’s Nano and Micro Enterprises, draws on research from India, Kenya, and Uganda to explore the structural and financial barriers
Micro, Small and Medium Enterprises (MSMEs) account for 98 percent of all businesses in Rwanda, employing over 2.5 million people according to the Ministry of Trade and Industry. However, despite increased business digitalisation globally, the digital journey of many MSMEs in Rwanda is still fragmented, potentially inhibiting their growth. While
2025 is a pivotal year in global development, as we are only five years away from the current deadline for the Sustainable Development Goals (SDGs). With slowing economic growth and other macroeconomic challenges putting pressure on already declining development aid, exacerbated by the recent steps by the US government to
Our work at Cenfri rarely follows the typical rhythms of the calendar year, yet, as 2024 draws to a close, we thought it would be good to reflect on what we’ve achieved. It’s been a busy few months: we’ve worked on around 50 projects and undertaken work-related travel to 19
From experiencing the informal remittance journey first-hand on the bus to Harare, to unpacking payment system barriers in Côte d’Ivoire and Togo, to developing a cross-border payments strategy in the East African Community – payments is one of our long-standing thematic areas at Cenfri. It’s also the digital financial service
Micro and Small Enterprises (MSEs) are crucial drivers of economic growth in emerging markets, yet there is a persistent financing gap that restricts their access to essential capital. This financing challenge affects their ability to scale, manage cash flow, and build resilience against economic shocks, stifling both growth and sustainability. One
