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Insurance in the Age of COVID-19: The Pandemic Highlights the Need for a New Approach
With much of the world on lockdown due to COVID-19, many businesses are closing down – either temporarily or permanently – with devastating effects on individual welfare and entire economies. This has amplified the importance of insurance, says Kate Rinehart-Smit at Cenfri. She explores how the sector can make a greater impact – not only on the resilience of businesses and individuals, but on broader economic development.
- Categories
- Coronavirus, Finance
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Data in Real Time: How Digitalisation is Transforming Financial Policies in Africa
For the past year, Cenfri and Finmark Trust have been partnering with NextBillion to share insights from their Insight2Impact (i2i) initiative, a five-year program that has sought to improve financial inclusion and related public policies through the smarter use of data. As the Openi2i Series concludes, i2i lead Hennie Bester takes a look back at the program and the learnings it has generated. In this interview, he explores how digitalisation and data are transforming the policy landscape in Africa and beyond.
- Categories
- Finance, Technology
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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 as Amrik Heyer at FSD Kenya points out, the utility of data for guiding policy and investment depends on the paradigms and frameworks which influence our thinking. She discusses the power of frameworks in shaping research and informing financial inclusion policy and investment, using the example of the FinAccess survey in Kenya.
- Categories
- Finance, Investing, Technology
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Researching Outside the Box: The Benefits and Challenges of Systems Practice for Engaged Ecosystem Research
In its research on the tech innovation ecosystems in Cape Town, Nairobi and Lagos, Cenfri applied a Systems Practice approach, collaborating with key players to reveal a comprehensive picture of these dynamic systems. Analysts at Cenfri and Lagos Business School explore the model, and the challenges and considerable advantages it presents for researchers and business ecosystems.
- Categories
- Entrepreneurship, Finance, Technology
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Can Africa Really ‘Build Back Better’? How Financial Inclusion Must Evolve To Enable a COVID-19 Recovery
Sub-Saharan Africa has long been one of the financial inclusion sector’s top success stories. But according to David Ferrand, the former director of FSD Kenya, the overall impact of that newfound financial access has been disappointing. In this Q&A, he discusses the current challenges and future outlook of sub-Saharan Africa’s financial sector – and how financial inclusion players can help the region emerge stronger after COVID-19 subsides.
- Categories
- Coronavirus, Finance
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Digital Identity and Financial Inclusion: How Digitizing Customer Due Diligence Can Strengthen Providers During COVID-19 and Beyond
Customer due diligence requirements are a major barrier to financial inclusion, since in some countries up to half the adult population can't open a bank account because they lack the necessary identity documents. With COVID-19 placing this obstacle in the spotlight, analysts at Cenfri explore how digital ID systems can benefit providers and customers, during the pandemic and beyond.
- Categories
- Coronavirus, Finance, Technology
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Overthrowing the King: Could Central Bank Digital Currencies Replace Cash in Post-COVID-19 Africa?
Despite advances in digital technology, cash has remained the undisputed king of payments in sub-Saharan Africa. However, as Michaella Allen and Christine Hougaard at Cenfri explain, COVID-19 has placed a stigma on cash and led governments across the region to actively encourage digital payments. They explore the implications of this shift, and whether it could make central bank digital currencies a viable alternative.
- Categories
- Coronavirus, Finance, Technology
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Why It’s Time for Africa to Adopt a Regional Digital Financial Identity
Over 1 billion people globally lack any form of officially recognized identification. According to Nkosinathi Ncube at FinMark Trust, this is a significant obstacle to financial inclusion and other development efforts – but overcoming it is no easy task. He explores some of the challenges to expanding access to formal identity in Africa, and explains why an effective solution will require regional action.
- Categories
- Finance, Technology
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