Summary
Overview
Work history
Education
Skills
Languages
Certification
References
Co(Managed) Grants and Projects
Selected Publications
Timeline
Generic

Carlos Sakyi-Nyarko

Leicester,Leicestershire

Summary

Carlos is a detail-oriented Chartered Development Finance Analyst (CDFA) and Economist with strong background and expertise in digital public infrastructure, financial inclusion, clean energy and digital agriculture. His technical expertise include Python, STATA, and LaTeX, complemented by strong skills in ArcGIS and Microsoft Office Suite, including Excel, Word, Access, and PowerPoint. He is proficient in data analysis and visualisation using Tableau and SurveyCTO, with a solid foundation in both quantitative and qualitative research methodologies. He also has excellent communication skills and ability to convey complex information effectively.

Overview

14
14
years of professional experience
1
1
Certification

Work history

Policy and Strategy Consultant

African Development Bank
12.2023 - 06.2025
  • Providing support in the formulation of policies, strategies and action plans, ensure their alignment with the strategic planning orientations, the Bank’s Strategy 2024-2033 and the High 5 priority areas.
  • Co-drafted the background paper that underpins the Bank’s new Ten-Year Strategy (TYS) 2024–2033.
  • Contributed to the preparation of the Bank’s new Ten-Year Strategy (TYS) 2024–2033.
  • Providing technical and analytical support for the review of policies, strategies and action plans.
  • Leading the department’s work programme on digital transformation and disruptive technologies such as Artificial Intelligence (AI).
  • Serving on the department’s Evaluation Committee on recruiting high-level consultants.
  • Team member for the preparation and drafting of the Bank’s 2024 Annual Report.
  • Reviewing documents to be considered by the Operations Committee (OpsCom), the Credit Risk Committee (CRC) and the Senior Management Coordination Committee (SMCC) and other management committees.
  • Providing analytical support on the Bank’s engagement with multilateral development banks (MDBs), including issues related to MDB reform, changing operational models, scaling up financing, country platforms, new financing models, etc.

Technical Expert, Responsible Digital Payments and Digital Financial Inclusion (on call)

United Nations Capital Development Fund (UNCDF) – Better than Cash Alliance
07.2023 - 06.2025
  • Conduct deep-dive research on the responsible digitisation of payments, drawing insights and lessons for other countries or members of the Alliance following a similar path/responsible practices.
  • Provide advisory and technical advice to support the implementation of the Alliance strategy with a focus on gender; manage activities and institutional relations for in-country projects/programmes.

Senior Evaluation Advisor (Part-time)

International Centre for Tax and Development (ICTD), Institute of Development Studies
02.2023 - 02.2024
  • Provided expert guidance on the sampling and design of survey questionnaires pertaining to the taxation of digital financial services in Africa.
  • Actively contributed to the analysis of survey data and played a key role in the preparation and publication of research findings.
  • Co-drafted and published an academic paper and policy brief to inform the Ministry of Finance and Economic Planning, Ghana and the Ghana Revenue Authority on the design of future digital tax programmes and policies.


Senior Evaluation Consultant

African Development Bank
11.2020 - 11.2023
  • Annually Peer reviewing Country Policies and Institutional Assessments (CPIAs) on Financial Development, Private Property Rights and Rule-based governance for the 54 AfDB member countries.
  • Identified flagship policy and institutional reforms in relation to financial development, property rights and rule-based governance implemented between 2018 and 2023.
  • Based on my evaluations, provided comments and observations—through the dedicated forms in the online CPIA platform—aimed at enhancing the quality and the relevance of the proposed analysis.
  • Produced a three-page report summarising the status of policy and institutional reforms in Africa in relation to financial development, property rights and rule-based governance.

Research Economist (International Consultant)

International Finance Corporation (IFC)
05.2022 - 06.2023
  • Led the analysis of a study looking to understand how the uptake of mobile money and merchant payments have improved the value proposition of mobile wallets and affected access and usage of financial services in the context of an IFC advisory project in Eastern and Southern Africa.
  • Co-authored the discussion paper, 'Evolution of the Mobile Money Payment Market in Tanzania'. Available at: https://www.ifc.org/en/insights-reports/2024/evolution-of-the-mobile-money-payment-market-in-tanzania.

Postdoctoral researcher

Loughborough University
01.2019 - 03.2022
  • Between 2019 and 2022, I was a Postdoctoral Researcher at Loughborough University, where I was involved in various donor-funded projects including the £2.1 FCDO funded project on Digital Financial Systems in Africa and the £38 million FCDO funded project on Modern Energy Cooking Services (MECS).
  • Between January 2019 and April 2021, I conducted an evaluation on the impact of digital financial inclusion on well-being in Ghana, where I specifically:
  • Designed and oversaw the implementation of nationwide surveys in Ghana to collect data on digital financial inclusion and its effects on well-being.
  • Analysed the survey data using STATA to derive meaningful insights and draw conclusions.
  • Co-wrote up research papers and reports detailing the findings of the evaluation, including the methodology used, data analysis, and key results.
  • Prepared and shared a research brief and other relevant insights with the Ministry of Finance and Economic Planning in Ghana to inform policymakers about the role of mobile money during the COVID-19 pandemic and its impact on financial inclusion and well-being.
  • Developed training materials and curating resources on research protocols, survey instruments, and data collection procedures.
  • Organised and coordinated training sessions for enumerators, ensuring their readiness for fieldwork.
  • In February 2021, I joined the Sustainable Transitions: Energy, Environment, Resilience (STEER) Centre at Loughborough University to work on a project funded by FCDO, where I performed the following:
  • Contributed to the preparation of a report on 'Clean Cooking: Review of Funding Landscape.
  • Conducted in-depth research on various innovative financing mechanisms available for clean energy projects, with a particular focus on entrepreneurial activities in the sector.
  • Conducted data analysis and impact assessment to measure the effectiveness of RBF in promoting clean cooking solutions.
  • Contributed to the drafting of the evaluation report, including synthesising findings and providing policy recommendations to attract investment into the sector.
  • Engaged with stakeholders and partners involved in the RBF project to gather relevant data and feedback.
  • Collaborated with GIZ/EnDev to conduct market assessments in selected African countries.
  • Engaged with relevant stakeholders, including government agencies, NGOs, private sector entities, and local communities, to gather insights and foster collaborations in the clean energy sector.
  • Presented research findings and market assessment results to stakeholders in workshops, conferences, and meetings to disseminate knowledge and promote dialogue.

Lecturer

Loughborough University
Loughborough
02.2020 - 09.2020
  • Prepared and gave lectures on Financial Economics and Communication Skills for Economists to undergraduate students.
  • Evaluated students' assignments, assigned grades and communicated with the director of teaching and learning to keep them informed of how students are performing.

Research Analyst

African Development Bank
Abidjan
07.2018 - 12.2018
  • Conducted extensive background research on various aspects of private sector development in regional member countries
  • Gathered data and information on key economic indicators, business environments, investment climate, regulatory frameworks, and market trends in the target countries.
  • Summarised the research findings in user-friendly formats, such as reports, presentations, and data visualizations.
  • Supported independent ex-ante evaluations of expected development outcomes of the Bank's non-sovereign and regional operations.
  • Contributed to the assessment of the potential impact and additionality of proposed projects and initiatives in the private sector, considering factors such as job creation, economic growth, and sustainable development.


Research Assistant

Loughborough University
06.2016 - 07.2018


  • I was a Research Assistant on the Research project on Digital Finance, funded under the FCDO-ESRC Growth Research Programme, where I performed the following:
  • Collaborated with the research team in developing a comprehensive and structured baseline survey focused on financial inclusion and well-being in Ghana, ensuring the survey instrument aligns with the research objectives and data requirements.
  • Provided supervision and guidance during the administration and implementation of the baseline survey in Ghana, ensuring data collection adheres to research protocols and ethical standards.
  • Conducted data coding and analysis of the nationally representative survey data, specifically focusing on digital financial inclusion and its impact on household well-being in Ghana.


Research Economist (Consultant)

Ministry of Finance and Economic Planning/USAID/Palladium International
11.2017 - 02.2018
  • Conducted a comprehensive analysis of Ghana's financial system at the inception of the implementation of Ghana’s Financial Sector Strategic Plan (FINSSP) II in 2012, identifying its major components and key characteristics.
  • Tracked and documented the major changes that have occurred in Ghana's financial system since the implementation of FINSSP II, highlighting shifts in policies, regulations, and financial inclusion initiatives.
  • Conducted an impact assessment of FINSSP II to evaluate its effectiveness in achieving its intended goals and objectives.
  • Reviewed and assessed the recommendations proposed in the FINSSP II and identified those that have been successfully implemented, those that are pending implementation, and the reasons for any delays or lack of implementation.
  • Collaborated with stakeholders and experts to propose possible next steps for the development of a successor strategy document for the Ghanaian financial sector, considering emerging trends, challenges, and opportunities.
  • Co-drafted an Assessment Report, Assessment of Financial Sector Strategic Plan II (FINSSP II) Report, to inform FINSPP III.

Lecturer

Loughborough University, London Campus
London
10.2016 - 03.2017
  • Taught Intellectual Property to postgraduate students.
  • Developed learning materials for students use.
  • Graded examination scripts and presentations of students.
  • Provided feedback to students.

Economist

Ministry of Finance and Economic Planning, Ghana
Accra
12.2013 - 03.2015
  • Conducted in-depth research and analysis on financial development, financial inclusion, and private sector development initiatives in Ghana, focusing on identifying trends, challenges, and opportunities in the financial sector..
  • Contributed to analysing macroeconomic and financial data to assess the performance and stability of the financial system and provide insights to policymakers for formulating appropriate measures to promote financial development.
  • Collaborated with other divisions and departments within the Ministry of Finance and Economic Planning to integrate financial inclusion and private sector development strategies into broader economic development plans and policies.
  • Engaged with stakeholders in the financial industry, including banks, microfinance institutions, and fintech companies, to gather insights and feedback on the challenges and opportunities in promoting financial inclusion and private sector growth.
  • Provided technical assistance and advisory services to support the design and implementation of financial inclusion and private sector development programmes in collaboration with international development partners and organisations.

Management Trainee (Corporate banking)

Fidelity Bank Ghana Limited
Accra
10.2011 - 09.2012
  • Assisted senior corporate banking officers in conducting market research and analysis to identify potential corporate clients and business opportunities.
  • Supported the preparation of credit proposals and financial analysis for corporate loan applications, ensuring compliance with the bank's lending policies and regulations.
  • Participated in client meetings and assist in building relationships with existing and prospective corporate clients to understand their financial needs and offer appropriate banking solutions.
  • Supported the corporate banking team in the preparation of marketing materials and presentations to promote banking products and services to corporate clients.

Education

PhD - Economics

Loughborough University
Loughborough, Leicestershire
04.2015 - 12.2018

Master of Science - Development Finance

University of Reading
Reading
09.2012 - 09.2013

Bachelor of Business Administration - Banking and Finance

University of Ghana
Legon
09.2007 - 05.2011

Chartered Development Finance Analyst - Development Finance

Chartered Institute of Development Finance
02.2025 -

Skills

  • Python
  • STATA
  • LaTeX
  • ArcGIS
  • MICROSOFT EXCEL
  • WORD
  • ACCESS
  • PowerPoint
  • SurveyCTO
  • TABLEAU
  • Communication
  • Quantitative
  • Qualitative

Languages

English
Proficient (C2)
French
Elementary

Certification

  • Generative Artificial Intelligence (AI), LinkedIn Learning, 2024
  • Blockchain Basics, LinkedIn Learning, 2024
  • Fintech Law and Policy, LinkedIn Learning, 2023
  • Designing and Implementing Monitoring and Evaluating Systems, Allison, 2020
  • Inclusive Digital Economies and Gender Equality Playbook, Asian Development Bank and UNCDF, 2019
  • Unlocking Investment and Finance in Emerging Markets and Developing Economies (EMDEs), World Bank, 2018



References

References available upon request.

Co(Managed) Grants and Projects

01/2025 - Present, Gates Foundation, implemented by Retail Finance Distribution (ReFinD), Institute of Statistical Social and Economic Research (ISSER), University of Ghana

Project Title: Enhancing Connectivity for Agent Banking: A Pilot Study on Satellite Internet for Expanding the Network of Digital Finance Retail Agents in Rural Indonesia 


09/2024 - Present, Gates Foundation, implemented by Retail Finance Distribution (ReFinD), Institute of Statistical Social and Economic Research (ISSER), University of Ghana

Project Title: Growing and Expanding Digital Finance Retail Distribution Networks in Rural and Peri-urban Areas in Ghana through Security Interventions (Installation of CCTV systems) 


08/2024 - Present, Innovations for Poverty Action (IPA) Researcher Diversification Strategy Exploratory Grant Fund

Project Title: Building Capacity and Gender-Responsive Approaches in Agricultural Extension Services in Ghana: A Collaborative Research Initiative with the Directorate of Agricultural Extension Services (DAES) 


04/2023 - Present, The Digital Agricultural Innovations and Services Initiative (DAISI), Centre for Effective Global Action (CEGA)

Project Title: Can personalised digital solutions improve smallholder farmer outcomes in Ghana? 


05/2022 - 12/2023, Digital Identification and Finance Initiative in Africa (DigiFI Africa) 

Project Title: Assessing the socioeconomic impacts of implementing Ghana's digital biometric ID system, known as the Ghana Card. 


04/2024 - Present, Retail Finance Distribution (ReFinD), Institute of Statistical Social and Economic Research (ISSER), University of Ghana, Ghana

Project Title: Assessing the impact of security enhancement on the expansion of mobile money agent network in rural and peri-urban areas in Ghana. 


07/2021 - 06/2022, International Growth Centre, London School of Economics and Political Science, Ghana

Project Title: Assessing the Impact of the Covid-19 Pandemic on Household Well-being and the Shock-Absorbing Role of Mobile Money.

Selected Publications

  • Sakyi-Nyarko, C., Ahmad, A. H., Murinde, V., & Arun, T. (forthcoming). Digital public infrastructure: Foundations and futures. In Routledge Handbook of Infrastructure Finance: A Global Perspective. Routledge.
  • Abounabhan, M.; Diouf, A.; Santoro, F.; Sakyi-Nyarko, C. and Scarpini, C. (2024). Mobile Money Taxes: Knowledge, Perceptions and Politics. The Case of Ghana, ICTD Working Paper 183, Brighton: Institute of Development Studies, DOI: 10.19088/ICTD.2024.008.
  • Sakyi-Nyarko, C., Ahmad Hassan Ahmad & Christopher J. Green (2022) The Gender Differential Effect of Financial Inclusion on Household Financial Resilience, The Journal of Development Studies, 58:4, 692-712, DOI: 10.1080/00220388.2021.2013467.
  • Sakyi-Nyarko, C., Ahmad, A. H., & Green, C. J. (2022). Investigating the well‐being implications of mobile money access and usage from a multidimensional perspective. Review of Development Economics, 26(2), 985-1009.
  • Sakyi-Nyarko, C., Ahmad, A. H., & Green, C. J. (2022). The role of financial inclusion in improving household well‐being. Journal of International Development. https://doi.org/10.1002/jid.3661. link.
  • Sakyi-Nyarko, C., Susann Stritzke, Iwona Bisaga, Malcolm Bricknell, Jon Leary, Ed Brown. Results-Based Financing for Modern Energy Cooking Solutions: An effective driver for innovative and scale? Energies. 2021.
  • Jiang, F, Sakyi-Nyarko, C, Ahmad, AH, Green, C. Mobile money, financial inclusion and poverty: key results from two new surveys in Ghana. In Ahmad, A, H Llewellyn, D Murinde, V, (ed) Inclusive Financial Development, Edward Elgar Publishing.
  • Carlos Sakyi-Nyarko and Ebenezer Ato Barnes. Impact Assessment of Ghana’s Financial Strategic Plan (FINSSP) II. Ministry of Finance and Economic Planning, Accra, Ghana. 2018.
  • Carlos Sakyi-Nyarko and Ahmad Hassan Ahmad. “Save for a Rainy Day”: The mediating effect of trust on savings behaviour of mobile money users. Loughborough University Working Paper. 2021
  • Carlos Sakyi-Nyarko and Ahmad Hassan Ahmad. The Relative and Joint Effects of Mobile Money and Formal Finance on Household Wellbeing. Loughborough University Working Paper. 2021
  • Malcolm Bricknell, Sakyi-Nyarko, C., Susann Stritzke, Iwona Bisaga, Jon Leary, Ed Brown. Modern Energy Cooking Services. Review of the Funding Landscape. Report 5 of the Financing Clean Cooking Series. Loughborough University. 2022
  • The potential of financial services and private sector in accelerating export diversification in Africa. Economic Development in Africa Report 2022. Background Paper. UNCTAD. 2022.
  • Sakyi-Nyarko, C., Ahmad, A. H., & Green, C. J. (2022). The Impact of the Covid-19 Pandemic on Household Well-being and the Role of Mobile Money: Panel Evidence from Ghana. Working Paper. 2025.

Timeline

Chartered Development Finance Analyst - Development Finance

Chartered Institute of Development Finance
02.2025 -

Policy and Strategy Consultant

African Development Bank
12.2023 - 06.2025

Technical Expert, Responsible Digital Payments and Digital Financial Inclusion (on call)

United Nations Capital Development Fund (UNCDF) – Better than Cash Alliance
07.2023 - 06.2025

Senior Evaluation Advisor (Part-time)

International Centre for Tax and Development (ICTD), Institute of Development Studies
02.2023 - 02.2024

Research Economist (International Consultant)

International Finance Corporation (IFC)
05.2022 - 06.2023

Senior Evaluation Consultant

African Development Bank
11.2020 - 11.2023

Lecturer

Loughborough University
02.2020 - 09.2020

Postdoctoral researcher

Loughborough University
01.2019 - 03.2022

Research Analyst

African Development Bank
07.2018 - 12.2018

Research Economist (Consultant)

Ministry of Finance and Economic Planning/USAID/Palladium International
11.2017 - 02.2018

Lecturer

Loughborough University, London Campus
10.2016 - 03.2017

Research Assistant

Loughborough University
06.2016 - 07.2018

PhD - Economics

Loughborough University
04.2015 - 12.2018

Economist

Ministry of Finance and Economic Planning, Ghana
12.2013 - 03.2015

Master of Science - Development Finance

University of Reading
09.2012 - 09.2013

Management Trainee (Corporate banking)

Fidelity Bank Ghana Limited
10.2011 - 09.2012

Bachelor of Business Administration - Banking and Finance

University of Ghana
09.2007 - 05.2011

Similar Profiles

Create profile
Carlos Sakyi-Nyarko