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This blog is part of a series documenting our program’s journey to accelerate the development of inclusive payments systems for universal access to financial services in Africa. #IAmAfricaNenda
New approaches are needed for instant payment systems to reach their potential in Africa
On October 25, 2022, AfricaNenda launched State of the Instant and Inclusive Payment Systems (SIIPS) 2022 report, in collaboration with the United Nations Economic Commission for Africa and the World Bank.
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State of Instant and Inclusive Payment Systems in Africa 2022 report coming soon : A sneak-peak at end-users' experience.
With the emergence of instant payment systems (IPSs) in Africa, digital payments are becoming just as available and immediate as cash transactions, but whether people actually adopt and often use digital payments is another question. This might be for several reasons and often depends on the country.
Instant payment systems
Feeling the pulse: flagship report on Africa’s instant and inclusive payment systems expected soon.
Fast, accessible, and more inclusive digital payments are booming across Africa. Efficient digital payments are more convenient for both the payer and the payee. They also have the potential to strengthen capital markets through a larger store of value in transaction accounts. Governments are increasingly focusing on supporting the roll-out of digital payments as a tool for financial inclusion.
#IAmAfricaNenda
Cross-sector collaboration can unlock financial inclusion for all
As we look forward to the official launch of AfricaNenda in October 2021, we have been putting our heads together to identify project opportunities and build partnerships to facilitate the deployment and adoption of instant payment systems across the continent.
#IAmAfricaNenda
Let’s change the game, hand in hand with the unbanked
Across Africa, over 400-million financially excluded adults are missing out on opportunities to secure and grow their savings, to access loans to support their households and businesses, and to use insurance services to protect their households and livelihoods.
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