Dylan Lennox

Dylan Lennox is a digital financial services strategy and commercialization consultant who works with financial services organisations to create opportunity, equality and build a sustainable future for all.

After commercializing several high growth mobile and fixed telecoms services during his time as an innovation lead at Vodacom,  he was given the opportunity to lead the launch of M-Pesa in Tanzania in 2008 and then again in Mozambique in 2012, with both services achieving many millions of monthly active customers. As a Founding Partner at MFX, Mr. Lennox coaches and mentors client teams to launch their own digital financial services and advises digital and payments start-ups at the founder and board level.

At CGAP, Dylan works on payments systems, interoperability in digital financial services and connected market-level infrastructure to assist providers to serve financially excluded populations at scale. He is a member of the South African Institute of Chartered Accountants, a Senior Associate of the Financial Services Institute of Australasia, and a Member of the Australian Institute of Company Directors.

By Dylan Lennox

Research

Unlocking Private Investment in Last-Mile Access via Shared Agent Networks: A Funder's Guide

Cash transfers in fragile contexts fail when recipients can't access their money. Shared agent networks are the critical link, but the economics don't work without funder support. This deck makes the case for shared agent networks as essential infrastructure, outlines how patient, collaborative investment can build last-mile financial access that sustains itself, and provides a financial modeling tool to help understand the trade-offs in funder support levels.
Research

Stablecoins in Humanitarian Cash Transfers

Humanitarian cash transfers are vital to resilience, yet reaching those most in need remains a persistent challenge. This deck assesses how stablecoins can help development funders improve cross-border transfers and last-mile delivery, offering practical guidance for humanitarian organizations and social protection actors navigating the realities of humanitarian payment systems.
Research

Six Big Ideas: How Financial Services Can Improve Social Protection Delivery

Cash transfers are among the most effective tools for social protection but delivering them in fragile contexts remains a major challenge due to interruptions in financial sector development efforts, limited government capacity, and difficulties reaching remote communities. This paper presents ways that social protection funders can invest to achieve outcomes for both programs and recipients.
Research

Trust in Transition: Afghanistan’s Hawala System in Crisis and Recovery

Afghanistan’s hawala system plays a critical and evolving role in the country’s financial ecosystem. Since August 2021 its role has only expanded as trust in the banking system faltered. Although hawala faces local competition and international skepticism due to transparency concerns, it remains a vital financial tool. The paper suggests that stakeholders should deepen engagement with hawala networks, support their regulation and formalization, and explore innovative partnerships to advance financial inclusion.
Research

From Crisis to Resilience: The Role of Inclusive Finance in Fragile Countries

Inclusive finance can bolster resilience and unlock opportunities for low-income people in fragile countries. CGAP identifies three levers of change for funders: leveraging humanitarian cash transfers, understanding informal financial services, and improving local market facilitation.