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A case study on how Kacha Digital Financial Services, Ethiopia's first private mobile money operator, is increasing insurance accessibility through digital premium financing and mobile technology in partnership with Lucy Insurance S.C. and Global Bank of Ethiopia.

This case study describes the launch of Morocco's first Gender Bond by BCP and its subsidiary Attawfiq Micro-Finance, which raised USD 25 million to provide microloans and non-financial services to women to overcome systemic socio-economic barriers.

This document is a briefing from FSD Africa providing responses to queries from potential suppliers regarding the prequalification and registration process for goods, services, and consultancies for the strategic period 2025-2030 (Tender Number: FSDAFRICA/PQ/2025).

FSD Africa has issued a prequalification and registration document for suppliers, service providers, and consultants for the strategic period 2025-2030. The agency seeks to establish a pool of qualified entities across three main categories: supply of goods, provision of services, and technical consultancy services, to support its mission of mobilising "green plus" finance for Africa's economic and social development.

The FSD Network Conference, held on February 19–20, 2025, in Nairobi, Kenya, focused on learnings from the Gender Collaborative Programme. The event brought together financial leaders and policymakers to discuss gender-responsive financial systems, the use of alternative data for credit scoring, the impact of societal norms on women's financial autonomy, and the role of digital public infrastructure and AI in advancing financial inclusion for women across Africa.

This discussion paper proposes a two-pillar financial resilience framework for Africa: the African Financial Stability Mechanism (AFSM), a concessional liquidity facility for rapid response to macro-economic and climate shocks, and the African Stability and Growth Pact (ASGP), a flexible, peer-reviewed fiscal governance framework. The AFSM is intended to be capitalised via a blend of SDRs, member contributions, and DFI support, while the ASGP encourages nationally tailored fiscal rules. The two are integrated such that AFSM access is linked to ASGP participation, aiming to reduce moral hazard and increase investor confidence through a phased roll-out starting with a 2025-2027 pilot.

The report proposes a two-pillar financial safety net for Africa to enhance macroeconomic stability and resilience against external shocks, including climate events. This architecture consists of the African Financial Stability Mechanism (AFSM), a liquidity facility for emergency funding, and the African Stability and Growth Pact (ASGP), a flexible budgetary governance framework. Together, they aim to reduce dependence on external donors and the IMF by providing a rule-based, African-led system for crisis response and fiscal discipline.

This progress report by FSD Africa details the organization's efforts to deepen African capital markets to mobilize long-term, local currency finance for sustainable development. The report outlines a four-pronged strategy focusing on policy and regulatory development, market infrastructure, capital market product innovation, and convening and advocacy. FSD Africa highlights its role as a neutral facilitator, leveraging technical assistance and grants to address systemic barriers such as risk-averse institutional investors and underdeveloped regulatory frameworks, with a specific emphasis on green, social, and gender-themed financing.

This case study describes FSD Africa's initiative to integrate the Taskforce on Nature-related Financial Disclosures (TNFD) framework into the African financial sector. The program focuses on building institutional capacity, advocating for an 'African voice' in global disclosure standards, and piloting the framework with FirstRand to ensure it is fit for the local context.

This report by FSD Africa provides a pan-African forecast of direct green job creation by 2030 across 12 material value chains. It identifies a significant near-term opportunity for 1.5 to 3.3 million new direct jobs, primarily driven by the energy and power sector. The analysis emphasizes that while long-term potential is vast, immediate investment in human capital and skilling is required to realize these gains.

This report by FSD Africa and McKinsey Sustainability presents a nature stress test for the banking systems of Ghana, Mauritius, Morocco, Rwanda, and Zambia. It evaluates how nature-related physical and transition risks impact real economy profits and subsequent credit losses for financial institutions across three scenarios: current policies, a disorderly transition, and an orderly transition aligned with the Global Biodiversity Framework (GBF). The findings highlight that while portfolio-level risks may appear moderate, they are heavily concentrated in priority sectors like agriculture and mining, where unweighted losses can be severe. The report argues that a coordinated, orderly transition can significantly mitigate these financial risks and provide macroeconomic benefits.

A case study by FSD Africa detailing a four-year partnership with Equity BCDC to increase financial inclusion in the Democratic Republic of Congo (DRC) through an agency banking model called Equity BCDC Express, which expanded services to 18 of the country's 26 provinces.

The REGULATING AND ENABLING INNOVATION R3LAB TOOLKIT is a practical guide published by FSD Africa in June 2024 to help insurance regulators in Africa balance the promotion of innovation with consumer protection. It provides a structured framework for conducting innovation gap and ecosystem assessments, introduces a diverse set of regulatory, supervisory, engagement, and monitoring tools, and offers guidance on converting these into actionable workplans with measurable KPIs.

The Anti Money Laundering & Counter Terrorism Policy, effective June 2024, establishes the framework for FSD Africa to prevent and combat money laundering (ML) and terrorism financing (TF). The policy mandates strict screening of third parties, risk assessments prior to programme implementation, and a formal reporting structure led by a designated Money Laundering Reporting Officer (MLRO) to ensure compliance with international standards and national laws in Kenya and donor countries.

The Lagos State Climate Adaptation and Resilience Plan (LCARP), published in June 2024 by FSD Africa and the Lagos State Ministry of Environment and Water Resources, is a strategic roadmap to protect Lagos from climate-driven risks. The plan identifies sea-level rise, extreme rainfall, and extreme heat as the primary climate impact drivers, with a projected cost of inaction reaching nearly $40 billion by 2050. To mitigate these risks, LCARP proposes a $9 billion project portfolio consisting of 33 adaptation projects, aiming to mobilize between $700 million and $1.3 billion in annual climate finance by 2035. The plan emphasizes a shift from an overreliance on concessional debt toward a balanced mix of blended finance, grants, and nature-based solutions, supported by new governance structures and sector-specific policy reforms.

The Modern Slavery Policy of FSD Africa, effective June 2024, establishes a zero-tolerance stance against modern slavery within its business operations and supply chains. The policy defines modern slavery as the deprivation of freedom for commercial gain and outlines mitigation measures, reporting mechanisms, and the responsibilities of staff, management, and the Board to ensure ethical business dealings.

The FSD Africa Official Travel & Expense Policy (Version 4.0), effective March 6, 2024, establishes the principles and rules for travel and reimbursement for all personnel, including staff, Board and Committee members, contractors, and consultants. The policy aims to balance staff welfare and security with a commitment to reducing CO2 emissions and the responsible use of public funds, specifically targeting that travel and expense costs remain within 2% of overall operational budgeted expenses.

Evans Osano of FSD Africa argues that the debt crisis in sub-Saharan Africa requires a comprehensive solvency solution similar to the 1996 HIPC initiative, rather than current liquidity-focused measures, to prevent further erosion of poverty gains and economic decline.

This report by FSD Africa evaluates the Africa Regulatory Support Programme (ARSP), which provided technical assistance to capital markets regulators across Africa from September 2018 to March 2023. The document outlines key lessons from interventions in eight countries and three regional blocs, emphasizing the need to balance international best practices with local context, the challenges of regulatory and market capacity, and the importance of sequencing and clustering interventions for maximum impact.

This feasibility study by FSD Africa explores a mechanism to transfer non-sovereign asset portfolios from Multilateral Development Banks (MDBs) to domestic institutional investors in Africa using a local currency solution. The goal is to free up MDB capital for new investments while deepening local capital markets and reducing foreign exchange risks for borrowers. The study focuses on seven markets in East and West Africa and proposes the creation of a permanent investment vehicle (SPV) managed by a professional Fund Manager to facilitate these transfers.