Now reading: The potential of remittance-linked insurance products in sub-Saharan Africa

Payments & Remittances

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.
Payments & Remittances

The potential of remittance-linked insurance products in sub-Saharan Africa

Exploring the potential of remittance-linked insurance products to improve the resilience of households in sub-Saharan Africa (SSA)  Remittances are particularly important on the continent and serve as a lifeline to many households. Yet insurance products that enable the sustained flow of remittances or the resilience of senders and receivers remain unexplored in SSA.  Both remittance

31 March, 2021
Africa: New toolkit may unlock access to financial services
Financial Integrity & Identity

Africa: New toolkit may unlock access to financial services

Hundreds of millions of people globally remain excluded from formal financial services to meet their needs in an affordable way. According to Findex (2017), 17% of adults in sub-Saharan Africa report not having a financial account because they cannot produce identity documents that banks are requesting as part of their

26 February, 2021
African insurance market
Payments & Remittances

Building African insurance market resilience

The need to build greater resilience in Africa and globally has been clearly demonstrated by the devastating impact of the COVID-19 pandemic on our society. The insurance industry has not been unaffected; work Cenfri did with OESAI and FSD Africa in June indicated that over 60% of insurers experienced a

15 December, 2020
Africa’s insurance fails to deliver on COVID-19
COVID-19 impact and recovery

Africa’s insurance fails to deliver on COVID-19

The COVID-19 pandemic has shone a light on the need for the African insurance sector to demonstrate its critical role in supporting people and businesses. The pandemic has been the most severe risk event in Africa in years, but many insurers have not delivered on their promise. If the sector

7 December, 2020
FSD Africa impact report
Microinsurance and Health Financing

FSD Africa’s Impact report

Between 2012 and early 2020, FSD Africa, supported by Foreign, Commonwealth and Development Office, reached over 5.47 million people and contributed to at least 3.2 million MSMEs accessing credit to grow and/or sustain their businesses with financial services and products across Africa. In FSD Africa’s inaugural Impact Report they unpack how they achieved this impact

20 November, 2020
Inclusive compliance models
Financial Integrity & Identity

Inclusive AML-CFT models in Africa: Lessons from six financial service providers

This study set out to develop and apply inclusive compliance models in anti-money laundering and combatting the financing of terrorism (AML-CFT) to assist country and institutional stakeholders in achieving inclusive integrity outcomes. An inclusive compliance model is a compliance approach that minimises the cost of compliance while still adequately managing

20 November, 2020
Insurance and COVID-19
Insurance for development

Impact of COVID-19 on the insurance sector – Ghana, Malawi and Zimbabwe

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.  At Cenfri, through our RRI programme funded by FSD Africa, we are identifying and tracking the major challenges faced by both

30 October, 2020
From Financial Inclusion To Inclusive Finance
Digital Governance, Digital Financial Services and the SDGs

From financial inclusion to inclusive finance

The power of frameworks to catalyse change In this age of information, we increasingly rely on data to inform our decisions. But it is not just the data itself which is important for decision making. The utility of data for policy and investment very much depends on the paradigms and

19 October, 2020
Payments & Remittances

The potential of remittance-linked insurance products in sub-Saharan Africa

Exploring the potential of remittance-linked insurance products to improve the resilience of households in sub-Saharan Africa (SSA)  Remittances are particularly important on the continent and serve as a lifeline to many households. Yet insurance products that enable the sustained flow of remittances or the resilience of senders and receivers remain unexplored in SSA.  Both remittance

31 March, 2021
Africa: New toolkit may unlock access to financial services
Financial Integrity & Identity

Africa: New toolkit may unlock access to financial services

Hundreds of millions of people globally remain excluded from formal financial services to meet their needs in an affordable way. According to Findex (2017), 17% of adults in sub-Saharan Africa report not having a financial account because they cannot produce identity documents that banks are requesting as part of their

26 February, 2021
African insurance market
Payments & Remittances

Building African insurance market resilience

The need to build greater resilience in Africa and globally has been clearly demonstrated by the devastating impact of the COVID-19 pandemic on our society. The insurance industry has not been unaffected; work Cenfri did with OESAI and FSD Africa in June indicated that over 60% of insurers experienced a

15 December, 2020
Africa’s insurance fails to deliver on COVID-19
COVID-19 impact and recovery

Africa’s insurance fails to deliver on COVID-19

The COVID-19 pandemic has shone a light on the need for the African insurance sector to demonstrate its critical role in supporting people and businesses. The pandemic has been the most severe risk event in Africa in years, but many insurers have not delivered on their promise. If the sector

7 December, 2020
FSD Africa impact report
Microinsurance and Health Financing

FSD Africa’s Impact report

Between 2012 and early 2020, FSD Africa, supported by Foreign, Commonwealth and Development Office, reached over 5.47 million people and contributed to at least 3.2 million MSMEs accessing credit to grow and/or sustain their businesses with financial services and products across Africa. In FSD Africa’s inaugural Impact Report they unpack how they achieved this impact

20 November, 2020
Inclusive compliance models
Financial Integrity & Identity

Inclusive AML-CFT models in Africa: Lessons from six financial service providers

This study set out to develop and apply inclusive compliance models in anti-money laundering and combatting the financing of terrorism (AML-CFT) to assist country and institutional stakeholders in achieving inclusive integrity outcomes. An inclusive compliance model is a compliance approach that minimises the cost of compliance while still adequately managing

20 November, 2020
Insurance and COVID-19
Insurance for development

Impact of COVID-19 on the insurance sector – Ghana, Malawi and Zimbabwe

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.  At Cenfri, through our RRI programme funded by FSD Africa, we are identifying and tracking the major challenges faced by both

30 October, 2020
From Financial Inclusion To Inclusive Finance
Digital Governance, Digital Financial Services and the SDGs

From financial inclusion to inclusive finance

The power of frameworks to catalyse change In this age of information, we increasingly rely on data to inform our decisions. But it is not just the data itself which is important for decision making. The utility of data for policy and investment very much depends on the paradigms and

19 October, 2020
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