Cross-border and domestic money transfers play a critical role in the financial strategies of low-income households and present many opportunities to extend financial inclusion.
Our extensive research on themes and imperatives for national and regional payment systems and remittances spans sub-Saharan Africa and forms part of our dedicated programme on risk, remittances and integrity in partnership with FSD Africa.
What can CBDC do for emerging markets: a case for mobile money Central banks have started to actively explore central bank digital currency (CBDC) – a new digital form of legal tender that mimics cash. Our initial note “The benefits and potential risks of digital fiat currencies” highlighted that CBDC
Understanding the state of digital payments in sub-Saharan Africa. The Seamless Southern Africa conference took place in Cape Town, South Africa, from 11 to 13 March 2019. The conference offered a platform for discussions on an array of topics, including the digitisation of payments, cryptocurrencies and financial innovation, and the
Case study: Kenya The majority of mobile-money flows continue to be dominated by cash-in and cash-out (CICO) transactions. This has led to the increasing belief that widely distributed networks of agents are essential access points for consumers, especially in rural and remote regions, to facilitate CICO needs. It is accepted
This two-part note series explores the state of national and regional payment systems in sub-Saharan Africa (SSA). Note 1 explores themes and imperatives for national and regional payment systems that enable remittances. It provides an overview of the regulatory frameworks in SSA and the principles to be considered to mitigate risks
For a moment, cast your mind back over the last week. How many payments did you make with your credit card during the week? The answer is most likely quite a few. This will have much to do with you having access to a bank account, fees being affordable and
Exploring digital fiat currencies (DFC) / central bank digital currency (CBDC) Cryptocurrency has taken the financial world by storm since 2008 through its ability to deliver peer-to-peer payment that is faster, cheaper, more secure, more convenient and more efficient than traditional legacy-based banking systems. As a result, cryptocurrency is increasingly
Migration is on the rise in sub-Saharan Africa (SSA), both in terms of migrants going to live abroad as well as within the region. With an ever-increasing need among these migrants to frequently and securely send money back home to support their networks of dependants, one would expect formal remittance
From 2009 to 2015 the proportion of adults, financially excluded from any financial service, decreased from 63% to 41% in Zambia, which exceeded the Zambian Government‘s national target of 50%. More than 14% of these adults now use mobile money services, whilst the largest growth has been in the use
The five-year RRI programme is a partnership between FSD Africa and Cenfri. Its aim is to improve welfare and boost investment growth in sub-Saharan Africa. To achieve this, it works to strengthen the integrity and risk management role of the financial sector and to facilitate remittance flows within and into
Innovative Solutions to Africa’s Remittances Problem You want to send money home because your sister is desperately ill and your mom can’t afford to get her to the doctor. They need the funds as soon as possible, so you go to the closest remittance outlet, fill out the paperwork, make
What can CBDC do for emerging markets: a case for mobile money Central banks have started to actively explore central bank digital currency (CBDC) – a new digital form of legal tender that mimics cash. Our initial note “The benefits and potential risks of digital fiat currencies” highlighted that CBDC
Understanding the state of digital payments in sub-Saharan Africa. The Seamless Southern Africa conference took place in Cape Town, South Africa, from 11 to 13 March 2019. The conference offered a platform for discussions on an array of topics, including the digitisation of payments, cryptocurrencies and financial innovation, and the
Case study: Kenya The majority of mobile-money flows continue to be dominated by cash-in and cash-out (CICO) transactions. This has led to the increasing belief that widely distributed networks of agents are essential access points for consumers, especially in rural and remote regions, to facilitate CICO needs. It is accepted
This two-part note series explores the state of national and regional payment systems in sub-Saharan Africa (SSA). Note 1 explores themes and imperatives for national and regional payment systems that enable remittances. It provides an overview of the regulatory frameworks in SSA and the principles to be considered to mitigate risks
For a moment, cast your mind back over the last week. How many payments did you make with your credit card during the week? The answer is most likely quite a few. This will have much to do with you having access to a bank account, fees being affordable and
Exploring digital fiat currencies (DFC) / central bank digital currency (CBDC) Cryptocurrency has taken the financial world by storm since 2008 through its ability to deliver peer-to-peer payment that is faster, cheaper, more secure, more convenient and more efficient than traditional legacy-based banking systems. As a result, cryptocurrency is increasingly
Migration is on the rise in sub-Saharan Africa (SSA), both in terms of migrants going to live abroad as well as within the region. With an ever-increasing need among these migrants to frequently and securely send money back home to support their networks of dependants, one would expect formal remittance
From 2009 to 2015 the proportion of adults, financially excluded from any financial service, decreased from 63% to 41% in Zambia, which exceeded the Zambian Government‘s national target of 50%. More than 14% of these adults now use mobile money services, whilst the largest growth has been in the use
The five-year RRI programme is a partnership between FSD Africa and Cenfri. Its aim is to improve welfare and boost investment growth in sub-Saharan Africa. To achieve this, it works to strengthen the integrity and risk management role of the financial sector and to facilitate remittance flows within and into
Innovative Solutions to Africa’s Remittances Problem You want to send money home because your sister is desperately ill and your mom can’t afford to get her to the doctor. They need the funds as soon as possible, so you go to the closest remittance outlet, fill out the paperwork, make
