Estelle Lahaye

Senior Financial Sector Specialist

Estelle Lahaye leads CGAP’s work to contribute to enhancing practices of impact investors with measuring and managing impact for inclusive finance. She has more than 15 years’ experience in development finance and financial inclusion having previously led CGAP’s work with donors and investors to co-create knowledge, provide guidance, and advocate for effective financial inclusion, and led CGAP’s experimentation and research activities on digital financial services in the West African Economic and Monetary Union.

Before joining CGAP, Estelle worked as a private banker in Luxembourg at Banco Itaú Europa, the international private banking division of Banco Itaú, Brazil.

Estelle has a Master’s degree in Business from San Francisco State University and an undergraduate degree in banking, finance, and insurance from the University of Nancy 2 in France. She is based in Paris and fluent in French and Portuguese.

By Estelle Lahaye

Blog

Towards Right-Fit IMM: Orienting Around Outcomes

Achieving outcomes orientation in inclusive finance investing starts with understanding what shapes it. CGAP’s emerging framework highlights the factors influencing outcomes orientation in IMM — and where the capital value chain can focus to make it stronger.
Blog

Rethinking Impact Measurement and Management: Fit for Outcomes

Too often, impact measurement focuses on what’s easiest to track, rather than what’s most useful for decision-making. We challenge conventional approaches to impact measurement and management (IMM), offering a practical way forward: use cases that align IMM strategies with investment context, purpose, and outcomes goals.
Research

Investing for Financial Inclusion: Four Enablers for Outcomes Measurement and Management

Impact investors are adopting outcomes-focused impact measurement and management (IMM) to enhance transparency and mitigate risks. This approach emphasizes tracking development and intermediate outcomes and using this data for decision-making. The paper outlines key enablers to advance outcomes-focused IMM in financial inclusion investments.
Research

Global Partnerships Case Study: Measuring and Managing Financial Inclusion Outcomes

This case study explores how Global Partnerships integrates outcomes data into investment decisions, highlighting key enablers for success, including leadership support, impact-driven strategy, and collaborative partnerships with financial service providers.
Blog

Shaping the Future of Impact Investing in Inclusive Finance

Impact investors have an opportunity to bolster inclusive finance by adopting an outcome-oriented strategy for impact measurement and management. This allocates resources towards investments that offer significant and influential results.