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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
The Next Frontier of Africa’s Financial Integration
Africa stands at a turning point. The launch of the Instant Payment System (PI - SPI) by the Central Bank of West African States (BCEAO) is not just a technological milestone, it signals a new era in how value moves across the continent. A transaction can now cross borders in seconds, connecting communities and businesses once held back by the cost and slowness of money transfers. This acceleration could redefine Africa’s economic future.
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SIIPS
SIIPS report 2023: a perspective on the role of agents and merchants
In the ever-evolving landscape of digital payments, Africa is making significant strides; however, the latest World Bank Findex report reveals that 45 percent of Africans are still not engaging in digital transactions. In this second piece, we explore another dimension of this challenge: the vital roles of agents and merchants in propelling the adoption of inclusive instant payment systems (IIPS) on the continent.
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Six key insights from AfricaNenda's pre-project support journey
The past two years have been an exciting and rewarding period for AfricaNenda as we help to advance the development of instant and inclusive payment systems that can make a difference for the 350 million financially excluded adults in Africa. An effort on this daunting scale, encompassing a diversity of needs across many countries and regions has many aspects and many stakeholders.
SIIPS