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.
In the realm of artificial intelligence, excessive caution may prove more dangerous than agility and speed. For financial sector regulators, a watch-and-learn approach has long been a prudent way to manage risk. With the rise of AI, however, this time-tested strategy may no longer be the optimal approach. As former
For those in development, 2025 has been a bit of a wild ride and many organisations have been doing some introspection. The team at Cenfri has been thinking about how we can continue to pursue evidence-driven impact, financial independence and sustainability with an inspired, capable and purpose-driven team (our enduring
To enable improved data-driven decision-making through access to shared government data, the Government of Rwanda (GoR) has approved a National Data Sharing Policy (“the policy”) Proposed by the Rwandan Ministry of ICT and Innovation (MINICT), and drafted through the Rwanda Economy Digitalisation programme, the policy could be a gamechanger in
Following our earlier post on the complexity of liability in the digital financial system, this article looks more closely at the challenges of existing arrangements and the new approaches emerging in some markets. As fraud and scam activity continues to rise, particularly in Africa’s fast-growing digital economies, regulators face the
This piece was published in partnership with GIZ. The global financial sector has undergone rapid changes in recent years and regulators are faced with the dual challenges of regulating a financial sector that is continually innovating, and ensuring the regulators themselves are leveraging technology to enhance their performance. Much has
Policymakers, especially in Africa, are facing unprecedented trade-offs between economic opportunity, national security, and climate sustainability. This article has been in the making for a while and the rapidly evolving global context makes it challenging to account for all the nuances, but some fundamental considerations persist. This is the first
2025 is a pivotal year in global development, as we are only five years away from the current deadline for the Sustainable Development Goals (SDGs). With slowing economic growth and other macroeconomic challenges putting pressure on already declining development aid, exacerbated by the recent steps by the US government to
At the end of November 2024, Cenfri had the opportunity to participate in the BIS Workshop on fostering financial inclusion through open finance in Basel. The event was jointly organised by the Financial Stability Institute (FSI) of the Bank for International Settlements (BIS), CGAP, and the World Bank. It brought
For the past three decades, Rwanda has had remarkable growth. Between 1999 and 2023, real GDP per capita grew on average 5% per annum. But the aim is even higher: Rwanda’s vision is to become a high-income country by 2050 and to reach this goal it would need to surpass
Rwanda’s journey toward becoming a high-income nation by 2050 is driven by clear strategic frameworks, one of which is the 2nd National Strategy for Transformation (NST2) for 2024–2029. This strategy focuses on five key priorities: creating productive jobs, boosting exports, improving education, reducing malnutrition, and enhancing public service delivery. However,
In the realm of artificial intelligence, excessive caution may prove more dangerous than agility and speed. For financial sector regulators, a watch-and-learn approach has long been a prudent way to manage risk. With the rise of AI, however, this time-tested strategy may no longer be the optimal approach. As former
For those in development, 2025 has been a bit of a wild ride and many organisations have been doing some introspection. The team at Cenfri has been thinking about how we can continue to pursue evidence-driven impact, financial independence and sustainability with an inspired, capable and purpose-driven team (our enduring
To enable improved data-driven decision-making through access to shared government data, the Government of Rwanda (GoR) has approved a National Data Sharing Policy (“the policy”) Proposed by the Rwandan Ministry of ICT and Innovation (MINICT), and drafted through the Rwanda Economy Digitalisation programme, the policy could be a gamechanger in
Following our earlier post on the complexity of liability in the digital financial system, this article looks more closely at the challenges of existing arrangements and the new approaches emerging in some markets. As fraud and scam activity continues to rise, particularly in Africa’s fast-growing digital economies, regulators face the
This piece was published in partnership with GIZ. The global financial sector has undergone rapid changes in recent years and regulators are faced with the dual challenges of regulating a financial sector that is continually innovating, and ensuring the regulators themselves are leveraging technology to enhance their performance. Much has
Policymakers, especially in Africa, are facing unprecedented trade-offs between economic opportunity, national security, and climate sustainability. This article has been in the making for a while and the rapidly evolving global context makes it challenging to account for all the nuances, but some fundamental considerations persist. This is the first
2025 is a pivotal year in global development, as we are only five years away from the current deadline for the Sustainable Development Goals (SDGs). With slowing economic growth and other macroeconomic challenges putting pressure on already declining development aid, exacerbated by the recent steps by the US government to
At the end of November 2024, Cenfri had the opportunity to participate in the BIS Workshop on fostering financial inclusion through open finance in Basel. The event was jointly organised by the Financial Stability Institute (FSI) of the Bank for International Settlements (BIS), CGAP, and the World Bank. It brought
For the past three decades, Rwanda has had remarkable growth. Between 1999 and 2023, real GDP per capita grew on average 5% per annum. But the aim is even higher: Rwanda’s vision is to become a high-income country by 2050 and to reach this goal it would need to surpass
Rwanda’s journey toward becoming a high-income nation by 2050 is driven by clear strategic frameworks, one of which is the 2nd National Strategy for Transformation (NST2) for 2024–2029. This strategy focuses on five key priorities: creating productive jobs, boosting exports, improving education, reducing malnutrition, and enhancing public service delivery. However,
