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.
Alliance for Financial Inclusion (AFI) in conjunction with Cenfri and supported by FSD Africa are pleased to officially launch the Inclusive Financial Integrity Toolkit. Countries in the sub-Saharan Africa (SSA) region have been on a development curve in setting up effective Anti-Money Laundering (AML) and Combating the Financing of Terrorism
COVID-19 containment and mitigation measures in sub-Saharan Africa (SSA) have restricted the movement of people, goods and services. This has affected insurers’ operations, which, to a large extent, have traditionally required physical engagement. It is also affecting insurers’ ability to launch new products, conclude new sales, collect premiums, service existing
Modern financial crime has evolved significantly over the last few decades. Detecting these global networks of sophisticated crime has become more complicated than solving a thousand-piece puzzle in minutes and with half the pieces missing; humanly impossible. This is the kind of complexity that faces the authorities and institutions at
In an age where we can send mail electronically in seconds at no cost rather than going to the post, it seems odd that people still walk around with pieces of metal and paper in their pockets to pay for things. Yet cash has remained the undisputed king of payments
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
