Looking back on a year of interesting projects
It was a year of growth and expansion for the Financial Services Strategy (FSS) practice at Genesis. We enjoyed new freedoms by embracing a hybrid working set-up that allowed our team to have a healthier and more flexible work-life balance.
Before COVID-19, our team of 24 consultants was mostly based in Johannesburg. Now its members are spread across nine countries: South Africa, Kenya, Ethiopia, Nigeria,?C?te d'Ivoire, Zimbabwe, Uganda, Zimbabwe and the UK. This has given the team the opportunity to re-invent its client coverage model across the continent.
We have streamlined our services with an expert leading each subject:
?Strategy?–?Bavani Naidoo
Payments?–?Richard Ketley
Commercial Due Diligence?–?Aashiq Patel
FS Policy & Regulation?–?Shezaad Sunderji
Applied Behavioural Economics?–?Wayne Bateman
Market Research?–?Marx Rukundo
Financial Inclusion?–?Tascha Terblanche
Risk Management?–?James Bernstein
Interested in behaviour and behaviour change?
Applied Behavioural Economics (ABE) division relaunched early last year. Our team of behaviour change experts focus on delivering client outcomes by applying behavioural science and behavioural economics. Within its first few months, the ABE team secured one of the largest contracts of the year which entailed delivering behavioural economics training and support to a pan-African bank.?You can learn more about the team’s cutting-edge work?here.
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If you would like to keep up to date with how behavioural science and behavioural economics can transform your business, or just want to understand your behaviour better (and maybe keep to those New Year’s resolutions), click?here?to sign up to the team’s newsletter.?
In total, the FSS team won 41 projects that range from strategy to commercial due diligence and market research. Here is some of our most successful and interesting work:
Social, political and economic trends for African Development Bank (ADB)
The ADB commissioned Genesis to conduct background research for its 10-year strategy as the context in which the strategy is implemented is evolving rapidly. The research looked at the state of – and likely future trends in – social and economic development in Africa. This was followed by an analysis of global and regional trends that are likely to play out on the continent over the next decade as well as the positioning of Africa and the bank to respond to these.?
Commercial due diligence of a Nigerian fintech lender
Genesis was commissioned by a large multilateral development finance organisation in the UK to conduct a commercial due diligence for a digital lender operating in Nigeria. The aim of the due diligence was to determine the viability of the target's changing business model. It also required assessment of management’s projections for future growth as the target transitions to a fully fledged digital bank. The analysis provided a comprehensive understanding of the risks and opportunities associated with the investment. Based on the findings of the commercial due diligence, the development finance organisation will decide whether or not to proceed with the investment.
National digitisation strategy for Savings and Credit Groups
Savings and Credits Groups (SCGs) – commonly known as Village Savings and Loan Associates – refer to a small group of people who save together and borrow from their pooled savings. They play a critical role in bringing financial services to rural areas of developing countries where access to formal financial services is typically limited. On the back of this, Genesis was commissioned by a central bank to assess the SCG market in the country to develop a national strategy for digitising all SCGs by 2027.
Situational analysis of Women Financial Inclusion in Nigeria
Genesis was commissioned by a central bank and a donor organisation to conduct a comprehensive situational analysis on Women’s Financial Inclusion (WFI) in Nigeria. The study also takes stock of progress made in the implementation of the country’s Framework for Advancing WFI.