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
This report reveals the findings from our qualitative and quantitative research with remittance senders who live in the United Kingdom and send remittances to either Cameroon, Kenya, Nigeria or Uganda. Remittances act as key sources of financial support for households: They reduce the likelihood of impoverishment, contribute to improved health
BankservAfrica and Cenfri investigate the role of ID proxy initiatives in transforming payment ecosystems in Africa and beyond. Real-time instant payments have become a hallmark of the digital economy and financial system. As part of our growing work in payment ecosystems, this report clarifies and investigates proxy and addressing
This diagnostic study explores Zambia’s payments landscape and provides insight and key learnings as Zambia’s 2018 – 2022 payment strategy to modernise the payment system and promote a cash-light society This report outlines salient features of the Zambian economic context and political economy with a bearing on the National Payment
The problem of illicit financial flows is recognised in the SDGs yet little progress has been made in combatting them Illicit financial flows (IFFs) are typically understood as “dirty money” crossing borders. The term covers a number of different cross-jurisdictional crimes including money laundering (ML), bribery, corruption, resource smuggling, human
Digitalisation is disrupting markets and economic structures globally, and even advanced economies do not have a clear view of the new economy and the rules that will govern it. While it is clear that we’re going through a period of disruption and change, it’s not yet clear which of the disrupters will
This research explores the role of insurance in sustainable development and inclusive growth. DFID partnered with the World Bank, FSDAfrica and Cenfri to conduct a series of diagnostics in Ghana, Nigeria, Kenya and Rwanda to understand how insurance market development can contribute to sustainable and inclusive growth. The diagnostics explore
This focus note aims to equip regulators with a decision framework that illustrates the available tools required to regulate for innovation. Why is it necessary to regulate for innovation? Digital innovation is changing the nature of financial markets. Innovation can create opportunities, enhance efficiencies, increase competition, drive scale, and improve
This interview with Barry Cooper reflects on the highlights from the ITU digital fiat currency working group.
The rise of insurtechs in emerging markets In light of the insurtech trends, Cenfri wanted to understand to what extent insurtechs in emerging markets are able to better serve the customer and provide more value to both the insurer and the end-user. Our initial work considered insurtech in microinsurance, types
