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. |
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
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
Payment facilities underpin scaling of Africa’s digital platforms. Digital platforms, also known as multi-sided marketplaces, are seamlessly matching customers to suppliers of goods and services in e-commerce and other emerging industries, thereby creating new pathways for individuals to participate in the digital economy. At the heart of the rapid rise
Webinar: The impact of COVID-19 on the sustainability of African insurance markets Our research in partnership with FSD Africa shows that many insurers in sub-Saharan Africa (SSA) were already vulnerable before the onset of COVID-19 and that the effects of the pandemic will heighten this vulnerability. What are the medium
Illicit financial flows (IFFs) represent some of the worst crimes and are a major contributor to corruption and development challenges across the developing world – particularly in Africa, where IFFs coincide with an absence of substantive economic inclusion. They have been estimated to be as large as USD80 billion annually
According to the World Bank Group’s Identification for Development, 1.1 billion people globally, including women, children and refugees, lack any form of officially recognised identification. This is a significant obstacle to financial inclusion and other development efforts, and the global community is increasingly focused on addressing the problem. For instance, the
The COVID-19 health crisis has turned into an economic crisis that is affecting a broad range of sectors. On 27 March, the IAIS released a statement saying that, while insurers “are exposed on both sides of their balance sheets”, they “are generally well capitalised with sophisticated risk management capabilities, which should help the sector as a whole to
The impact of COVID-19 on SSA insurance markets The COVID-19 health crisis is already turning into an economic crisis that will see a broad range of sectors affected. The IAIS and IMF deem the insurance sector to be relatively resilient as a result of the steps taken in response to
When we think of the African diaspora, we often imagine large networks across Europe or North America and the indelible contribution they play to national culture and society. But get in a taxi in Cape Town, South Africa, and there is a high chance your driver is from Malawi, Nigeria,
In the midst of the COVID-19 crisis, insurance should be a primary mechanism for many people across the world to cope. Instead, the limited penetration of insurance products in developing countries has pushed insurance to the periphery. However, all is not lost. Insurers still have a key role to play
Challenges and opportunities for insurance providers and regulators across sub-Saharan Africa The COVID-19 pandemic and accompanying restrictions by many governments across sub-Saharan Africa (SSA) have forced insurance providers, insurance regulators and consumers to rethink how they interact and maintain operations through this period. Furthermore, the economic crisis resulting from the
