Africa’s financial services sector is undergoing a significant transformation, in part through the rapid expansion of instant payment systems (IPS). These open-loop retail payment systems enable irrevocable, low‑value, digital credit push transactions in near real-time for use 24 hours a day, 365 days a year. Making them inclusive and widely available across Africa has the potential to drive financial inclusion, given the power of payments to motivate people to sign up for accounts and use them.

To fully leverage this potential, however, stakeholders in the financial services ecosystem—including policymakers and payment services providers—need a clear understanding of how well these systems tackle barriers and where the opportunities are. There is a need, in particular, for insights into the access and utilization of high-quality formal financial services by underserved and financially excluded adults.

Data is essential in this effort. Making data available, transparent, and analyzable on the volumes, values, instruments, and methods of digital payments and who is taking advantage of them is key for ensuring IPS foster a more inclusive financial landscape across Africa.

Sharing of IPS data in Africa helps in showcasing progress, with room for growth

The State of Inclusive Instant Payment Systems (SIIPS) in Africa report by AfricaNenda Foundation and our partners, the World Bank and the United Nations Commission for Africa (UNECA), delivers an annual assessment of the progress, challenges and opportunities for IPS stakeholders in enabling inclusivity in Africa, and as a result, the increased adoption of digital payments. The SIIPS interactive map and data dashboard offer an accessible way for IPS stakeholders to engage with comparable IPS data from across Africa at the regional and country levels. Insights from SIIPS help decision-makers formulate effective policies and regulations and implement inclusive IPS solutions.

AfricaNenda appreciates the overwhelming support from the 22 central banks and IPS operators that have shared data as part of our data availability, transparency, and impact campaigns (see the table below). Considering the scarcity of publicly available data and information, providing us with data and information helps close data gaps.

The African financial services sector needs more of this data. The AfricaNenda Foundation calls on central banks, IPS scheme operators, and other payment services stakeholders to share more of their payment market data to unlock the full picture of the growth and gaps in IPS inclusivity. Growing the African payments industry requires data that reflects the evolving ecosystem, the distribution of IPS, the extent of the inclusivity of these systems, and patterns shaping the evolution of end-user adoption. Data disaggregated by gender, age group, income level, rural residency, and other potential factors give voice to consumer experiences, preferences, and perceptions, enabling stakeholders to propose actions to ensure scale and sustainability.

Transparent data sharing furthermore allows for evidence-based policymaking and targeted infrastructure interventions. By understanding the challenges, opportunities, and successes of different IPS implementations across Africa, policymakers and IPS operators can adapt their strategies to improve financial inclusion.

A call to action: Share your data and be part of this story

For the upcoming 2025 report, we urgently request continued participation from central banks and IPS operators in sharing data to be part of the story of IPS in Africa. Your data is crucial for understanding the evolving landscape of IPS on the continent and for identifying opportunities to improve inclusivity.

AfricaNenda will be reaching out using a combination of public announcements, media outreach, targeted emails, and personalized communication methods to request data. By working together, sharing data transparently, and analyzing it rigorously, we can ensure that IPS catalyze inclusive financial growth across Africa. Let’s work together to unlock the transformative potential of digital finance for all!