Rashmi Pillai

Senior Financial Sector Specialist

Rashmi Pillai contributes to CGAP’s work on resilient rural women at the intersection of agriculture and climate change. 

Rashmi is a global executive with 19+ years of experience in impact investing, digital financial services, inclusive and competitive financial markets development, and financial markets policy and regulation across Africa and South Asia. Previously, she was the Anglophone Head of Public Policy for Wave Mobile Money and contributed to Wave’s operations in its six African markets. Prior to that, she was the CEO at Financial Sector Deepening Uganda (FSDU). Before FSDU, she served as a digital financial services technical expert to two organizations – CGAP, at the World Bank and the Better Than Cash Alliance at the UNCDF across multiple African countries. Rashmi is also the founder of the "Sankalp Forum" – the first major impact investment deal flow platform in India for for-profit social enterprises and took it to scale. The forum has now expanded across Southeast Asia and East Africa. 

Rashmi has a master’s in public policy from Harvard Kennedy School of Government, Harvard University on a Fulbright Scholarship. She also holds another Masters in Spectroscopic Physics from M.S. University Baroda, India.

By Rashmi Pillai

Blog

How Providers Can Serve Micro-Merchants Sustainably

This blog discusses why digital merchant payments for micro- and rural merchants in sub-Saharan Africa struggle to be financially sustainable—and what providers, regulators, and development partners can do to fix that.
Research

Building Rural Women’s Climate Resilience: Seven Business Drivers Delivering Commercial Value

As climate pressures rise, strengthening rural women’s resilience is critical for their livelihoods and for the long-term viability of the rural businesses that serve them. Through ABERA (Accelerating Business to Empower Rural Women in Agriculture), a CGAP and IDH collaboration, this paper identifies seven practical business drivers that simultaneously strengthen rural women’s climate resilience and business performance.
Blog

Why Merchants Still Choose Cash in Sub-Saharan Africa

Digital merchant payments remain limited in Sub-Saharan Africa because current systems impose costs, frictions, and risks that don’t align with the realities of informal, low-margin MSMEs, making cash the more rational choice.
Blog

Breaking the Cash Habit: The Urgent Need to Accelerate Digital Merchant Payments

In the latest blog in our Findex series, we look at the importance of accelerating digital merchant payments and what is needed to move Sub-Saharan Africa from potential to momentum.
Blog

4 Next-Gen Fintech Models Bridging the Small Business Credit Gap

There is a staggering $4.9 trillion financing gap for micro and small businesses in emerging markets. These fintech models stand out for their ability to solve small businesses' credit needs at scale.