Cenfri has broad experience in fit-for-purpose payment systems in emerging markets, particularly in Africa. We work towards making retail payments a public good, assisting central banks, payments operators and payment system participants navigate domestic and cross-border payments modernisation in a manner that contributes to economic inclusion. We have worked extensively in instant/faster retail payment systems and in improving access to remittances for low-income households. Other projects range from diagnostic and landscaping studies, developing a national payments vision, to analysing payments legislation and regulation, and feasibility studies on central bank digital currency (CBDC). The convergence of payments and identity, as well as the focus on digitising the entire value chain rather than limited use cases, is central to our theory of change in digital payments. We have worked with IFAD’s Financing Facility for Remittances, the World Bank, the Millennium Challenge Corporation, AfricaNenda, FSD Africa, FSD Kenya, GIZ, UNCDF, BankservAfrica, Finmark Trust, the African Union and the Alliance for Financial Inclusion. |
There’s no disputing the contribution of migrant remittances to the economic well-being of friends and family back home. For many African countries, the value of remittance flows exceeds that of foreign direct investment. However accessing the money via formal channels can be challenging for recipients who are faced with Know
Real-time retail payments that enable consumers to send and receive cross-border and domestic transactions digitally are on the rise globally. The increasing proliferation of QR codes, apps, tap-and-go card technology, and small-value payments using proxy identifiers (aliases) such as phone numbers and email addresses have made payments one of
As economic hub of the region, South Africa attracts a large number of migrant workers from neighbouring countries, many of them without the necessary documentation and work permits. Regardless of their status, migrants send money home to families that are often dependent on these remittances for survival. Though the majority
In 2009, the South African government amended the Regulation of Interception of Communications Act (RICA) by introducing identification and verification measures for mobile phone users. The country’s experience of introducing similar requirements under the Financial Intelligence Centre Act (FICA) showed that identity verification could be a problematic requirement for low-income
This Cenfri research project conducted for the Finmark Trust Zambia provides an overview of the remittances landscape in Zambia considering the trends, opportunities and challenges. The purpose of this document is to provide a basis for debate amongst industry, regulators and other interested parties and identify areas for future research.
Zimbabwe is heavily reliant on remittance flows from South Africa and particularly Johannesburg. As many Zimbabweans are undocumented, they cannot access formal channels for money transfers. This 2009 study was commissioned to sketch a picture of the remittances landscape in the Johannesburg-Zimbabwe corridor. The aim was to build an understanding
