With an emphasis on inclusive financial integrity, Cenfri provides technical assistance, tools and skills building to policymakers, regulators, supervisors and compliance heads looking to apply risk-based and outcomes accountable approaches to money laundering, terrorism financing and proliferation-financing risk strategies. Combining our understanding of relevant risks, familiarity with the FATF guidelines, knowledge of identity and identity-proofing capabilities and leveraging our competency in risk data analytics, we support financial service value chains undertake assessments from national level to the financial product level, thereby enabling the adoption of appropriate customer due diligence practices. Cenfri is committed to assisting countries to move off the grey list responsibly, shaping national risk assessment processes with empirical data and working with remittance services’ compliance managers to ensure that low-income households are not disproportionately affected in receiving low-value remittances. We are interested in mitigating the longer-term impact of illicit financial flows using digital technology (regtech, suptech and AI) to evaluate and monitor illicit flows and enhance inclusive financial integrity. We have worked with BankServ Africa, FSD Africa, GIZ, IFAD’s Financing Facility for Remittances, UNCDF and AFI on a range of financial integrity and identity projects. |
Financial inclusion has evolved from a grass-root microfinance movement in the 1980s to a mainstream item on the development agenda. Its increasing prominence is attested, amongst others, by the formation of the G20 Global Partnership for Financial Inclusion (GPFI), the recognition of financial inclusion in the Sustainable Development Goals and
Will CBDC solve your financial inclusion woes or further exclude the vulnerable? Central bank-backed digital currency (CBDC) may alleviate financial exclusion barriers, but it comes with risks. Given some of the shortcomings of digital financial services in reaching financially excluded populations, central banks in developing and emerging markets have increasingly
New Frontiers in Microinsurance Distribution The International Labour Organization’s (ILO) Microinsurance Innovation Facility (MIF) commissioned Cenfri to compare innovative distribution models from India, South Africa, Colombia and Brazil. The study was based on several case studies conducted and commissioned by Cenfri. The aim was to create a typology for innovative
This series of documents brings together research and analysis on the country context, demand, supply and regulatory framework for insurance in Tanzania. It includes a series of eight documents, consisting of one headline findings document and seven input documents, each focusing on a specific thematic area that build ups the
Zimbabwe is unique in that there is a significant proportion of the population who were formerly customers of formal financial institutions who have since left the system, often due to mistrust in market stability. This 2012 study analysed the country context, demand, supply and regulatory framework for payment services in
41.14% of the adult population Mozambique has either never heard of a bank (22.5%) or does not know what it is (18.9%). There still remains a long way to go before electronic payments become part of daily life for most Mozambicans. This 2012 study analysed the country context, demand, supply
In Malawi, 81% of people do not have access to formal payment services or mobile phones. Few financial institutions (public or private) actively pursue the unbanked market through technology and new distribution channels. This 2012 study analysed the country context, demand, supply and regulatory framework for payment services in Malawi
In 2012, there were estimated to be between 1 and 1.5 million hospital cash plan (HCP) policies in effect in South Africa, with total lives covered estimated to be 2.4 million people. The market is relatively large and rapidly growing with an estimated 50,000 new policies sold every month This
In 2011, insurance reach in Nigeria was extremely low and the market was plagued by a number of challenges, many of them relating to distribution. The reach of the insurance market was limited to the higher-income, formally-employed male market and even those who were supposed to have compulsory insurance (e.g.
In 2012, it was estimated that 3.3m SADC migrant workers in South Africa sent around R11.2 billion home each year; R7.6 billion of which is estimated to flow through informal channels such as sending cash with a bus or taxi driver. The sheer volume of cross-border remittance flows and the
In 2010, conservative estimates of the voluntary microinsurance market was 150,000-200,000 policyholders, but if formal credit life insurance policies are added to this number, the estimate increases to 650,000-700,000 users (3% of the Kenyan adult population). If only 1 million M-PESA users and 1 million Kenyans with bank accounts who
