ABC Money: Instant payments in Africa – showcasing how to create opportunities and advance financial inclusion with brand new benchmark report
by ABC Money - 3 November 2022
Transforming Africa’s Payment Landscape: A Partnership for Inclusion"Digital Transformation is among two seismic shifts in the 21st Century keen to attain Sustainable Development Goals. The partnership between UNECA and AfricaNenda aims to transform African Payment systems by improving their effectiveness to increase financial inclusion leading to economic prosperity while achieving the SDGs and Agenda 2063: The African We Want." Dr. Mactar Seck, Chief of Technology and Innovation Section, UNECA,
Ghana showcases its Instant and Interoperable Payment System to African Central Banks and Payment SwitchesGhIPSS Instant Pay (GIP), Ghana’s Instant Payment solution, is considered one of the most advanced on the Africa continent, based on AfricaNenda's State of Instant and Inclusive Payment Systems (SIIPS) in Africa report 2022. According to the inclusivity criteria outlined in the SIIPS report, GhIPSS instant Pay is ranked under “progressed inclusivity as it not only meets the fundamental IIPS criteria but also provides inclusive functionality that supports the most widely used channels and essential use-cases, including P2P and P2B transactions.
News Anyway: First of its kind report benchmarks instant payments in Africa and highlights how they can create opportunities and advance financial inclusionAfricaNenda, the United Nations Economic Commission for Africa (UN ECA) and the World Bank have released the State of Instant and Inclusive Payment Systems in Africa report (SIIPS – Africa).