Africa’s instant payments ecosystem surged to new heights last year, with transactions reaching US$2 trillion across 64 billion payments, according to the newly released State of Inclusive Instant Payment Systems (SIIPS) 2025 report. The study, produced by the AfricaNenda Foundation in partnership with the World Bank and UNECA, shows a continent moving rapidly toward a more interconnected, digital-first financial landscape.
The report, now in its fourth edition, reveals that 36 instant payment systems are live across 31 countries, with five launched in the past year. Collectively, they processed volumes that underline Africa’s shift from cash-dominant economies to faster, inclusive, real-time digital payments.
Launching the report in Eswatini, AfricaNenda CEO Dr Robert Ochola said instant payments are reshaping participation in Africa’s economies. “More countries are adopting instant payment systems, and more people are gaining access to digital financial services that support livelihoods, trade, and growth,” he said.
The World Bank’s Acting Global Director for Finance, Competitiveness and Investment, Niraj Verma, welcomed the progress but warned that the momentum must translate into broader inclusion. She urged countries without real-time payment systems to begin implementing them, while calling on existing operators to focus on affordability and innovation. She stressed that fast payments support wider goals such as job creation, financial inclusion and trade.
One of the report’s standout findings is the rise in interoperability. Half of Africa’s instant payment systems now connect banks, mobile money operators and fintechs on shared platforms. Only one system, Nigeria’s NIBSS Instant Payment (NIP), reached the highest mark, mature inclusivity, on the AfricaNenda Inclusivity Spectrum. Ten others advanced to progressed levels. Ghana’s GIP and Mobile Money Interoperability remain at the progressed stage, where they have stayed since 2022.
The report also highlights expanding use cases, with more systems enabling person-to-business payments, government-to-person transfers and the early stages of cross-border real-time payments.
Research in Angola, Côte d’Ivoire, Madagascar and Tunisia suggests that individuals are adopting digital payments faster than merchants, particularly in developing markets. Adults over 30 and those with steady income dominate usage. But younger adults and women still face hurdles including fraud fears, lack of identification and limited access to agents. Between 50% and 75% of cash-first users cited fraud concerns as a primary barrier.
UNECA’s Chief of Innovation and Technology, Dr Mactar Seck, said the findings show that inclusion must be deliberate. “The data gives policymakers the confirmation they need to design ecosystems that serve marginalized communities, women, youth, informal workers and rural populations,” he said.
Looking ahead, the report identifies digital public infrastructure integration, stronger digital identity systems, government-to-person payment scaling and regulatory harmonisation as central to the next phase of Africa’s digital economy. With 36 countries operating instant payment systems alongside digital ID frameworks and data protection laws, coordinated reform could unlock a highly connected continental market.
The SIIPS 2025 launch, hosted by the Central Bank of Eswatini from 11–14 November, gathered central banks, payment operators, development partners and policymakers to discuss how instant payments can power Africa’s economic future.
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