Policymakers, regulators and supervisors in emerging markets are under pressure to develop, implement and enforce policy and regulation that conforms to global best practice but is effective locally despite considerable constraints. Cenfri leverages the legal background, policymaking and regulatory experience of key team members and assists via direct regulatory development or policy guidance but more often through technical assistance and skills building.
Much of our work has been in the financial sector across Africa, Asia and Latin America. This includes an impressive “regulating for innovation” portfolio in support of financial sector regulators who are grappling with innovation or market development mandates in regulatory environments that do not effectively accommodate the range of risks presented by new financial service innovations. We also support improved digital and data governance in Africa. Examples range from creating a set of scenarios on the possible digital futures in Africa, to developing a data-sharing policy for the Government of Rwanda and researching fit-for-context open finance solutions for Africa.
Innovation can enable insurance to become a powerful engine of growth and development across the continent, but achieving this requires that market players and regulators work together to build an ecosystem in which responsible innovation can thrive. For regulators, doing so means not only understanding the current state of innovation
Nothing illustrates the incredible power of data-driven decision-making more than the recent COVID-19 pandemic. Lamenting the disparities in genomic sequencing data from high versus lower-middle income countries, Professor Happi, from the African Centre of Excellence for Genomics of Infectious Diseases in Nigeria, has talked about the pressure they experienced early
Cenfri, with support from GIZ and in collaboration with On Think Tanks, is hosting a series of digital dialogues to explore issues at the intersection of digital governance, digital financial services (DFS) and the Sustainable Development Goals (SDGs) across emerging economies. This note puts the spotlight on the second topic, namely financial sector innovation and cybersecurity risks. Innovation in the development and
Cenfri, with support from GIZ and in collaboration with On Think Tanks, is hosting a series of digital dialogues to explore issues at the intersection of digital governance, digital financial services (DFS) and the Sustainable Development Goals (SDGs) across emerging economies. This note puts the spotlight on the first topic, namely responsible deployment of Artificial Intelligence (AI) in financial services. AI is
The next paradigm shift for financial markets in the development world Last year I had the opportunity to interview an executive at one of Malawi’s biggest banks. The topic of discussion was innovation and what can be done to better enable it in Malawi’s payments sector. He pointed to the
Most Ugandans face insurable risks, yet uptake of insurance remains very low at only 1.4%. Innovations in global insurance markets have illustrated how insurance can be better designed, offer more affordably and thus provide better value for customers. Uganda enacted a new Insurance Act in 2018. This act expanded the
Just a few years ago, there were strict rules about who was allowed to provide which services in what countries, with national governments controlling the products and services offered in their jurisdictions. Things have changed. Take the financial sector. Typically, a global player would either have to work via a
Digital identity is increasingly becoming the key enabler of digital inclusion across the globe. We conducted three country diagnostic studies to understand and assess the use cases and ecosystem requirements for a digital identity (ID) platform in the Pacific Island countries of Fiji, the Solomon Islands and Vanuatu. This research
What is the New Nexus Initiative? Cenfri, with support from GIZ and in collaboration with On Think Tanks, is hosting a series of digital dialogues to explore issues at the intersection of digital governance, digital financial services (DFS) and the Sustainable Development Goals (SDGs) across emerging economies. The digital meetups connect development partners, industry experts, academics,
Kigali, Rwanda, 2 June 2021: Today, the Ministry of ICT and Innovation in Rwanda, Cenfri, and the Mastercard Foundation have signed a tripartite Memorandum of Understanding to kick-off an ambitious three-year digital transformation programme in Rwanda aiming at harnessing Rwanda’s big data to enhance the Government’s digital capabilities and systems. Building
In many African countries, the potential for inclusive insurance markets is significant, however, this potential has yet to be fully realised. High entry barriers for new innovative players and regulation that may not effectively accommodate them are important contributing factors. The cell captive model has emerged as a way for entrepreneurs or organisations with an insurance business
