The SIIPS 2024 report, produced by AfricaNenda, the World Bank Group, and UNECA, provides a comprehensive assessment of Africa’s instant payment systems (IPS), with a focus on their inclusivity. It analyzes 31 live systems across 26 countries, tracking progress, barriers, and opportunities for expanding digital financial services to underserved populations.
Key Findings:
- Growth in Instant Payments – Africa now has 31 live IPS, with 28 domestic and 3 regional systems. More countries are developing new systems to improve financial access.
- Inclusivity Gaps – While IPS adoption is increasing, no system has yet reached full inclusivity. Many still lack broad use cases, regulatory support, or effective consumer protectio
- Regional Integration – Cross-border payment initiatives, such as GIMACPAY (CEMAC) and PAPSS (West Africa), are advancing, but interoperability remains a challenge.
- Fintech and eKYC Barriers – Licensing restrictions and electronic Know-Your-Customer (eKYC) requirements remain obstacles to broader adoption and financial inclusion.
The report highlights policy recommendations and case studies from Mauritius, South Africa, Tanzania, and Zimbabwe, offering insights into improving digital payment access across Africa.