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Behavioural Science
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Digital Africa
Insurance for development
Integrity – AML/CFT and Combatting Illicit Flows
Measurement in financial inclusion
Microinsurance and health financing
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Policy and regulation
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insight2impact (i2i)
Making Access to Financial Services Possible (MAP)
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Africa’s digital future: Policy scenarios
About us
Overview
Our approach
Our purpose
Where we've worked
Our people
Our team and associates
Our board
Our network
Our work
Research themes
Behavioural Science
Behavioural science seeks to understand the underlying factors that influence judgements and decision-making. These can relate to the individual or to the contextual environment. Someone living with very little income, for example, will find it more difficult to make long-term decisions around savings or accessing credit. Their circumstances will force them to focus on their immediate needs compared to someone who might be under less constrained circumstances. A good example of this is when low-income adults borrow from informal providers at very high-rates for consumption. Integrating behavioural insights into our data collection and analysis strategies can advance our understanding and predictions of financial behaviour and guide us to design financial services that really help adults achieve their goals. With current innovations in survey design and data collection, we can test these insights quicker and learn faster. As part of our global i2i programme, we have looked into the barriers and opportunities for integrating new sources of data (e.g. social media) into financial service decision-making that can change the way we do business.
Data and Analytics
Digital Africa
An increasingly digital and connected Africa is providing new ways to participate in the economy. As the digital revolution gains ground, we’re focused on a number of questions which explores the digital economy, financial services and livelihoods. Forces These are the key uncertainties and forces that will shape the future of Africans for the next 30 years, such as a growing youth demographic, the changing nature of employment, connectivity and the effects of technology, the rise of super platforms and climate change. Scenarios The scenarios for Africa’s digital future aim to stimulate a discussion around the choices that decision-makers in Africa have to make in responding to forces and uncertainties that shape the continent’s digital economy.
Insurance for Development
Integrity – AML/CFT and Combatting Illicit Flows
Anti-money laundering (AML) and combatting the financing of terrorism (CFT) regulation in combatting illicit flows is currently one of the primary international financial sector standards which may, if not carefully implemented, impact on financial inclusion. We seek to support compliance with international standards in a manner that does not impact unnecessarily on financial sector development and inclusion. We have conducted extensive research in the area of financial integrity as part of our [Add link:] risk, remittances and integrity programme and beyond, across Africa, Latin America and Asia.
Measurement in Financial Inclusion
The increasing prominence of financial inclusion as a tool for development and growth has spawned extensive data-gathering initiatives to measure, understand and improve it. The result is a variety of new measurement frameworks leveraging this data. Early indications suggest that the financial inclusion strategies developed and guided by these measurement frameworks may not be leading to the results that policymakers want to achieve. Our work under the global [Add link:] i2i programme produces dedicated research in the area of financial inclusion measurement
Microinsurance and Health Financing
Microinsurance refers to the provision of insurance to lower-income households. If appropriately designed and intermediated, insurance products can play an important role in reducing vulnerability for low-income households as well as presenting profitable markets for commercial insurance providers. In addition, ensuring well-functioning health financing systems is a critical element of development policy and the delivery of health services. We have done extensive work on the regulation and development of microinsurance and health financing markets in Africa, Latin America and Asia.
Micro, Small and Medium Enterprises (MSMEs)
Given the critical role that micro, small and medium-sized businesses (MSMEs) play in emerging markets, interventions designed to support them need to be effective in unlocking innovation, employment and economic growth. Cenfri is exploring several areas of MSME-related work including: Nuanced MSME segmentation Digital transformation of MSMEs Systems mapping (understanding key value-chains as well as the drivers and constraints in the ecosystem) Designing interventions and rethinking insurance to meet MSME needs and better manage the risks they face Technical assistance to the private sector
Payments and Remittances
Cross-border and domestic money transfers play a critical role in the financial strategies of low-income households and present many opportunities to extend financial inclusion. Our extensive research on remittances spans sub-Saharan Africa and forms part of our dedicated programme on risk, remittances and integrity.
Policy and Regulation
We use our expertise in a variety of financial sectors, in advising the development of inclusion-friendly financial sector policy and regulation. The work we do on any component of the financial sector is always placed within the broader financial policy and regulatory framework, and within a clear understanding of market dynamics and trends. Our work leverages all financial sector players, including commercial financial service providers, towards providing financial services to lower-income households. Whilst much of our work focuses on policy and regulatory outcomes, we do this in support of private financial sector development. Our extensive research in the area of financial policy and regulation spans Africa, Latin America and Asia.
Resilience
Resilience relates to the capacity of individuals, communities, institutions and systems to absorb and address an increasingly complex range of shocks. Our resilience work encompasses: Insurance markets. Including microinsurance, insurtechs and insurance for development. Remittances. Understanding barriers to remittances to recommendations for action. Urban resilience. How to respond to climate change and natural disasters by building more sustainable, insurable cities and infrastructure.
Technology and Innovation
Distribution of financial services is a key constraint to extending financial services to low-income markets. Traditional networks are often costly, cumbersome and intimidating for low-income clients to use. As a result, much attention is currently placed on the development of new technologies (e.g. mobile phones) and business models (e.g. branchless banking) and on creating the regulatory space for these models to develop. Embracing technology in this regard will benefit not only the extension of banking networks, but also the distribution of all other non-bank financial services. We, therefore, see this as a key focus area in support of financial inclusion. Our work on new technology and distribution spans Africa and Latin America.
Programmes and initiatives
Making Access to Financial Services Possible (MAP)
insight2impact (i2i)
Launched in 2015, insight2impact is jointly hosted by Cenfri and FinMark Trust and funded by the Bill & Melinda Gates Foundation in partnership with the Mastercard Foundation. This global resource centre supports policymakers, FSPs and development partners to harness and fully capitalise on the power of data to advance financial-sector development and generate better financial inclusion and welfare. Download the brochure.
Risk, Remittances and Integrity (RRI)
Across sub-Saharan Africa, financial sectors face significant constraints to more formally serve consumers and facilitate inclusive growth. This five-year partnership between FSD Africa and Cenfri aims to address these challenges, through the RRI program which works to strengthen the integrity and risk management role of the financial sector and to facilitate remittance flows within and into the continent. Download the brochure.
Innovation Lab (Innolab)
COVID-19 impact and recovery
Alongside organisations from around the world, Cenfri is committed to play our part in preventing the spread of COVID-19. All our staff are working from home and we have suspended all travel for the moment. We are also actively looking for ways in which we can assist in limiting any unnecessary economic impacts on already vulnerable emerging economies and to apply our development efforts to build towards more resilient households and economies. We shall continue to work directly with partners and stakeholders to develop innovative and alternative ways to pursue our shared development objectives. This is an extraordinary time in history as much of the world is focused on responding to a single challenge, and it is therefore an opportunity for us to learn from and support each other where possible. COVID-19’s direct and indirect impact on economic development will undoubtedly be significant. While our normal ways of work are challenged, we also need to double our development efforts. Cenfri will seek to use the tools at our disposal to contribute to managing the impact of the crisis on people, particularly those in developing countries. We are not slowing down, and we look forward to connecting with you during this time of…
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Podcasts
Listen to interviews and recordings about our latest research and activities
Africa’s digital future: Policy scenarios
What could Africa look like in 2048? The digital revolution is gaining ground across Africa. Ambitions around an increasingly digital and [...]
Regulating for innovation: How to encourage responsible market innovation
For regulators, the dual implications of innovation make it a critically important but challenging topic to address. Regulators with a mandate to [...]
Interview with Jessica Colaço, Co-Founder Brave Ventures Labs
Listen to the interview with Jessica Colaço, Co-Founder Brave Ventures Labs on the DataHack4FI Innovation Competition in [...]
Interview with Anthony Mabonga, Credit Risk Analyst at M-Kopa
Listen to the interview with Anthony Mabonga, Credit Risk Analyst at M-Kopa on the DataHack4FI Innovation Competition in [...]
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