New SIIPS Report Shows Rapid Growth In Instant Payments

Africa’s digital payments ecosystem is accelerating faster than ever, with new data reaffirming the continent’s shift toward more inclusive and interoperable financial systems. The State of Inclusive Instant Payment Systems (SIIPS) 2025 Report, published by the AfricaNenda Foundation in partnership with the World Bank and UNECA, paints a picture of a rapidly expanding infrastructure, one that is beginning to reshape economic participation across the region.

Now in its fourth edition, SIIPS has become the main benchmark for measuring the maturity of inclusive instant payment systems (IIPS) on the continent. The 2025 findings show 36 instant payment systems live across 31 African countries, including five launched in the past year. Together, these systems processed 64 billion transactions valued at nearly USD 2 trillion in 2024, illustrating how quickly Africa is moving from cash-heavy to digitally enabled financial interactions.

Dr. Robert Ochola, CEO of the AfricaNenda Foundation, frames the shift as both transformational and foundational.

“Inclusive instant payments are transforming how Africans connect economically. The findings of SIIPS 2025 show clear progress, more countries are adopting instant payment systems, and more people are gaining access to digital financial services that support livelihoods, trade, and growth across the continent,” said Dr. Robert Ochola, CEO, AfricaNenda Foundation.

Yet, while progress is clear, the report stress that Africa’s digital payments architecture is still a work in progress. The World Bank’s Acting Global Director, Niraj Verma, highlights both the momentum and the unfinished agenda: more countries must begin implementing fast payment systems, and those already operational must deepen inclusivity, innovation, and affordability.

He points to regional fast payment system (FPS) models, which have shown potential to deliver cost-efficient, speedy cross-border transactions, an area many see as the next frontier for Africa’s financial integration. Through Project FASTT, the World Bank is continuing to offer financing, technical support, and capacity building to countries strengthening these ecosystems.

Interoperability is emerging as a defining marker of progress. Half of Africa’s instant payment systems now enable cross-domain transactions across banks, mobile money operators, and fintechs. In a notable milestone, Nigeria’s NIP system has become the first to reach mature inclusivity on the AfricaNenda Inclusivity Spectrum. Ten other systems have progressed to advanced levels.

Functionally, these systems are moving beyond basic person-to-person (P2P) transfers. An increasing number now support person-to-business (P2B), government-to-person (G2P), and cross-border payments, broadening their relevance across consumer, enterprise, and public-sector use cases.

Despite the infrastructure gains, SIIPS 2025 shows that people are adopting digital payments faster than merchants, particularly in emerging and nascent markets such as Angola, Côte d’Ivoire, Madagascar, and Tunisia. The most active users remain adults over 30 and individuals with regular income.

Meanwhile, young adults and women continue to face structural barriers, including fraud concerns, identification challenges, and inconsistent access to agents. Fraud stands out sharply: 50–75% of cash-first users cite fraud risks as their main barrier to adopting digital payments.

UNECA’s Dr. Mactar Seck emphasizes that inclusion cannot be incidental. The data, he notes, should push policymakers to intentionally design ecosystems that serve groups typically left behind: women, youth, the informal sector, and rural communities.

Digital Public Infrastructure Could Unlock the Next Phase

The report identifies alignment across digital public infrastructure (DPI) including instant payments, digital IDs, and data protection laws—as a major opportunity. Thirty-six countries now have live IPS, digital ID systems, and data protection frameworks, suggesting a foundation that could support a more secure, interoperable, and inclusive digital economy.

Still, scaling G2P and cross-border use cases will require closing gaps in digital identity coverage, harmonizing regulation, and strengthening collaboration between public and private actors. These steps, the report argues, are fundamental to Africa’s long-term ambition of a single, digitally connected market.

The findings were launched during a high-level event hosted by the Central Bank of Eswatini (CBE) from November 11–14, 2025, which brought together central banks, payment operators, policymakers, development partners, and media.

Across all the discussions and data points, SIIPS 2025 makes one thing clear: Africa’s instant payments infrastructure is advancing quickly, but true inclusivity, especially for women, youth, and rural users, will require sustained focus, policy coordination, and ecosystem-wide collaboration.