With 31 live IPS in 26 countries and another 27 nations preparing to launch their own systems, the report painted a picture of a rapidly evolving financial ecosystem with immense promise for Africa's underserved communities.

In just five years, the volume and value of transactions processed through IPS in Africa have grown by 37% and 39%, respectively, reflecting a broader trend of digital payment adoption, driven by increasing mobile phone penetration, fintech innovation, and regulatory support.

However, while IPS systems are reaching more people, no system has fully achieved mature inclusivity, that enables a broad range of digital payment use cases, accessible to all, affordable and centred around transparent consumer recourse mechanisms.

Women and other vulnerable groups still face barriers in adopting digital payments due to concerns around security, fraud, and network reliability. The report underscores that while significant progress has been made, true financial inclusivity remains a challenge.

Recourse mechanisms to address fraud and privacy concerns remain critical gaps, particularly for vulnerable groups such as women, who continue to report feeling unsafe using digital payment platforms.

The report was commissioned by AfricaNenda Foundation in collaboration with the World Bank and Economic Commission of Africa while the launch was supported by the Bank of Ghana and Ghana Interbank Payment and Settlement System.

The report provides a comprehensive analysis of SIIPSS penetration in Africa and how instant payment was promoting financial inclusion on the continent.

The Chief Executive Officer of AfricaNenda, Dr Robert Ochola said despite the successes Africa needed to double its efforts to address the barriers that hinder instant payment.

"AfricaNenda and its partners are calling for a collective push to expand IPS and deliver solutions that cater to every citizen, particularly those in rural and underserved areas.

The goal is to ensure universal financial inclusion by 2030, a vision that could be realized if the 27 planned IPS initiatives are successfully implemented" stated Dr. Ochola, CEO of AfricaNenda.
He said Africa needed to harness its resources to develop the continent and called for an enabling regulatory environment to promote instant payment in Africa.
He said the vision of AfricaNenda was to promote and deepen instant payment in Africa to accelerate the economy development and prosperity of the continent.

The Governor of the Bank of Ghana, Dr Ernest Addison in a speech read on his behalf by the Director of Fintech and Innovation, Kwame Oppong, described the report as comprehensive.He said it represented the commitment to promote the future of sound financial health of Africans.

"As we launch the SIIPS, we must focus on the transformative power of instant payment," Dr Addison stated, adding that instant payment must be accessible, secure and frictionless.

The Practice Manager FCI of the World Bank, Mehnaz Safavian said Africa could accelerate financial inclusion through instant payment and that digital payment could reduce the cost of payment and remittance by 40 per cent.

Ms Safavian said Africa needed to keep an eye on emerging risk of inclusive payment, stressing that data security must be a priority.

The UNECA Representative, Stephen Karingi for his part said instant payment was crucial to promote African integration.
He said digital payment must be interoperable to deepen adoption and penetration.

Mr Karingi said instant payment would further enrich Africa understanding of the digital public infrastructure ecosystem and help shape Africa digital future.

"ECA is committed to partnering with AfricaNenda and key stakeholders to support Member States in building trusted, interoperable, and instant payment systems. This collaboration addresses the growing demand for seamless transaction systems, fostering continent-wide economic integration and financial inclusion, and significantly advancing frameworks like the African Continental Free Trade Area (AfCFTA) while aligning with the African Union's Agenda 2063 for an integrated Africa.

The SIIPs report is a valuable contribution, offering the latest rigorous insights that guide progress toward these ambitious goals." - Stephen Karingi - Director at the Regional Integration and Trade Division of the Economic Commission for Africa.