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The report analyzes the FinTech ecosystem in East Africa, identifying key enablers such as high mobile penetration and gaps in traditional financial services. It details the value propositions of FinTechs in lending, payments, insurance, and investment management, while assessing the regional investment landscape. The document highlights a strong concentration of activity in Kenya and a significant reliance on foreign venture capital, particularly from the US and Europe. It also examines the role of partnerships between mobile network operators (MNOs) and banks, and identifies critical gaps in support infrastructure and regulatory clarity.

The report examines seven key credit innovations—scoretechs, invoicetechs, lending aggregators, telco-based lenders, pay-as-you-go (PAYG), peer-to-peer (P2P) lending, and edufintech—across South Africa, Nigeria, Kenya, Tanzania, and Rwanda. It finds that while digital metamorphosis is improving financial inclusion, credit access remains low, with domestic credit in sub-Saharan Africa at 39% of GDP. Telco-based lending is the most successful model in East Africa, while South Africa leads in MSME financing innovations. However, many models face challenges including high non-performing loans (NPLs), high cost of capital, and a lack of patient capital, particularly in education finance. The report recommends transitioning to hybrid customer acquisition models, leveraging blockchain to reduce fraud, and establishing more supportive regulatory sandboxes.

The document provides a statistical overview of remittances from the UK to Africa, detailing the cost as a percentage of the amount sent, the size of the diaspora population in the UK, and the total annual amount of money sent for 16 African nations. Nigeria is the largest recipient by volume, with £2,363 million sent annually, while Tanzania has the highest cost of sending at 14%.

The document details a pilot project by Wezesha Aqua Farms, supported by FSD Africa's Triggering Exponential Climate Action (TECA) initiative, to introduce cage fishing in Mwanza, Tanzania. This aquaculture approach aims to mitigate the effects of climate change, such as fish migration to deeper waters and stock declines, by allowing communities to rear fish year-round. The project utilizes a pay-as-you-use or lease model for cages costing approximately 8.5 million Tanzanian Shillings (USD 3,500), targeting the Victoria Blue Cooperative Society. Initial results show increased community interest in aquaculture investments, particularly among women.

The FSD Africa and FSDAi venture finance portfolio consists of numerous funds and platforms targeting climate action, gender-lens investing, and financial inclusion across the African continent. Key climate-focused initiatives include Africa Climate Ventures, which aims to reduce 100 million tonnes of carbon emissions by 2030, and the Catalyst Fund, which targets 40 pre-seed climate resilience start-ups. Gender-focused funds such as Aruwa Capital and RiTA Fund I specifically address capital imbalances for female-led businesses. The portfolio also includes sector-specific vehicles for fintech (First Circle Capital), insurance (Inclusive Insurance Investment Fund), and renewable energy (Nithio, Spark Energy), utilizing a mix of equity, grants, and debt to catalyze private investment and drive sustainable economic growth.

FSD Africa co-funded the Digital Frontiers Institute (DFI) from 2016 to 2021 to train digital finance professionals in low-middle income countries. The partnership established the Certified Digital Finance Practitioner (CDFP) qualification and reached over 15,000 professionals. Key achievements include the creation of 22 Communities of Practice across 20 countries and the development of 47 DFS regulations, policies, or directives.

The study examines how COVID-19 affected the fiscal positions and debt sustainability of MEFMI member countries, noting a sharp increase in average debt-to-GDP ratios from 63.6% in 2019 to 70.6% in 2020. It highlights the critical role of Local Currency Bond Markets (LCBMs) and international initiatives like the Debt Service Suspension Initiative (DSSI) in maintaining stability. The report identifies significant gaps in operational risk management, specifically the absence of business continuity plans in most member states, and recommends strengthening institutional capacity, technology investment, and the development of transparent debt management strategies to build future resilience.

The Value for Money (VfM) Framework establishes a consistent, evaluative approach for FSD programmes to determine if resources are used effectively to reduce poverty. It moves beyond simple indicators by using 'rubrics'—predefined criteria and performance standards—to make reasoned judgements. The framework is built on the 'Four Es' (Economy, Efficiency, Effectiveness, and Equity) plus Cost-effectiveness, and is aligned with Impact-Oriented Measurement (IOM) and the FSD Compendium of Indicators. It emphasizes a mixed-methods approach, combining quantitative data with qualitative narratives to account for the complexity of market system changes.

The document serves as a technical resource for designing and issuing gender bonds in Africa, aligning with International Capital Market Association (ICMA) standards. It details the issuance process for both use-of-proceeds (UoP) and performance-based bonds, emphasizing the need for gender-disaggregated data, internal working groups, and external reviews. The guide highlights the growth of the gender bond market in Africa, citing recent issuances in Morocco, Rwanda, South Africa, and Tanzania, and provides case studies and frameworks to help issuers direct capital toward women-owned MSMEs, housing, and leadership diversity.

The document serves as a practical resource for the issuance of gender bonds in Africa, detailing the process from preparatory work to post-issuance reporting. It defines gender bonds as mechanisms to channel funding toward projects reducing gender inequalities, categorizing them into use-of-proceeds (UoP) and performance-based structures. The guide emphasizes the importance of gender-disaggregated data, the role of external reviews (such as Second Party Opinions), and the support of Multilateral Development Banks (MDBs) as anchor investors. It highlights emerging markets in Morocco, Rwanda, South Africa, and Tanzania, and provides specific criteria for eligible projects, particularly the financing of women-owned micro, small, and medium enterprises (WMSMEs).

The COVID-19 pandemic caused a sharp economic downturn in the MEFMI region, characterized by contracting GDP growth, widening fiscal deficits, and deteriorating external positions. To mitigate these effects, member states implemented a range of fiscal measures, such as VAT exemptions and social protection transfers, and monetary interventions, including cutting policy rates and reducing statutory reserve requirements. However, these responses, combined with lower revenues and higher borrowing costs, accelerated public debt accumulation and eroded debt-carrying capacity across the region. The document emphasizes the need for sustainable debt management, fiscal buffers, and economic diversification to build resilience against future shocks.

The report analyzes how MEFMI countries utilized external financing, including emergency facilities from the IMF and World Bank, to cope with the COVID-19 pandemic. It details the shift in creditor composition toward bilateral and private lenders, the deterioration of debt risk ratings, and the specific policy responses adopted by member states. The document concludes with ten key lessons for public debt management during crises, emphasizing the importance of official external finance, operational risk management, and transparency.

The report examines how the COVID-19 pandemic affected local currency bond markets (LCBMs) across MEFMI member countries. It finds that while the crisis increased government borrowing needs and operational risks, most countries maintained stability through fiscal, monetary, and financial policy interventions. Key findings include a general increase in the average time to maturity of domestic debt, a shift in investor behavior toward safe assets, and the use of liability management operations like rollovers and switches. The document concludes that deepening LCBMs, strengthening debt management strategies, and improving market transparency are essential for resilience against future crises.

The project targets Kwale, Kilifi, Tana River, and Lamu counties to combat impacts from drought, storms, and coastal erosion. It proposes a 'Source-to-Sea' framework that links upstream agricultural management with downstream coastal ecosystem restoration. Key interventions include restoring mangroves, coral reefs, and seagrasses, implementing climate-resilient farming to reduce riverbank erosion and sedimentation, and establishing sustainable finance mechanisms like Payment for Ecosystem Services (PES) and blue carbon markets. The project aims to benefit approximately 323,100 direct beneficiaries, focusing on vulnerable fisherfolk and small-scale farmers, while addressing social issues such as gender-based violence and sex trafficking linked to economic desperation.

The ocean and coastal ecosystems are critical for global biodiversity, food security, and carbon sequestration, but they face severe threats from climate change and pollution. Despite an estimated annual funding need of USD 175 billion to USD 459 billion to safeguard the ocean, only USD 11 billion has been invested via philanthropy and Official Development Assistance over the last decade. The Green Climate Fund (GCF) aims to close this gap by creating enabling environments, catalysing innovation, de-risking projects to mobilise private finance, and strengthening national financial institutions through tools like blue bonds and debt swaps. Current GCF initiatives include the Global Fund for Coral Reefs, targeting 17 countries with a USD 500 million project value, and the Blue Action Fund, focusing on coastal resilience in the Western Indian Ocean region.

The Economics for Nature (E4N) partnership (2016-2022) worked to integrate natural capital into economic and business decision-making to protect and restore biodiversity. The report identifies that while the concept of natural capital helps make nature 'material' for policymakers and businesses, systemic change is hindered by a lack of a globally agreed definition of a successful economy and a divergence in capacity between the Global North and South. Key achievements include the development of the Green Economy Tracker, the '3-returns' investment framework, and the mainstreaming of natural capital into the EU Green Deal and African Development Bank programmes. The report concludes that future progress requires putting people and Indigenous Peoples at the heart of economic design, institutionalising natural capital accounting, pursuing systemic economic reform, and scaling nature-based solutions.

The Green Economy Coalition and partner organisations highlight the link between inequality and environmental degradation, noting that green policies are not inherently fair. They call for a collaborative effort to integrate inclusion and sustainability, citing examples from Brazil, Tanzania, Kenya, and the UK to demonstrate how economic development can be both green and fair.

This report by the Green Economy Coalition reviews the first ten years of the SEED Awards (2005-2015), an initiative founded by UNEP, UNDP, and IUCN to support social and environmental enterprises. It analyzes the survival and impact of 202 SEED Winners across 37 countries, highlighting the role of multi-stakeholder partnerships and tailored support in fostering green and inclusive growth at the grassroots level.

The report examines the escalation of extremist activity in southern Africa, highlighting the dual threats of far-right militancy and Islamist insurgency. It details the specific security challenges in South Africa, including the activities of the National Christian Resistance Movement and IS-linked cells, and provides an in-depth analysis of the insurgency in northern Mozambique. The author argues that the Mozambican conflict is fueled by transnational criminal networks, including human smuggling and the heroin trade, and criticizes the slow, bureaucratic responses of the Southern African Development Community (SADC) and the African Union (AU). The document concludes with recommendations for integrated national strategies, improved inter-agency collaboration, and a shift toward preventative governance to address the root causes of extremism.

The report examines the insurgency in Cabo Delgado, Mozambique, led by Alu Sunna Wa-Jama (ASWJ). It argues that the group's growth is driven by a combination of radical Wahhabist ideology, deep-seated ethnic tensions between the Mwani and Makonde groups, and systemic economic marginalisation linked to the extractive industries. The document further details how ASWJ leverages and profits from a thriving illicit economy involving drug, wildlife, and gemstone trafficking, often facilitated by corruption within the Mozambican political establishment. It concludes that heavy-handed military responses have alienated the population and recommends a holistic strategy focusing on inclusive governance, wealth distribution, and community dialogue.