State of Inclusive Instant Payment Systems in Africa – 2023 report

SIIPS 2023

SIIPS 2023 REPORT

SIIPS 2023 explores the evolution of both the supply and the demand side of instant retail payments. It highlights the challenges and opportunities shaping Africa's payment landscape to equip stakeholders with the insights they need to motivate investments, partnerships, and progress toward inclusivity.

This year’s edition highlights further developments in the IPS landscape and includes a spotlight on cross-border retail payment policy and regulatory harmonization in Africa.

Download the full SIIPS 2023 Report

Download the Executive Summary

Download the Key Takeaways

Access the IPS
Interactive Map

Key data infographics

Explore some of the key findings from SIIPS 2023 through data and figures.

The IPS Inclusivity Spectrum

Map of active regional IPS in Africa as of June 2023

Map of 29 active domestic IPS in Africa as of June 2023

Frequency of digital payments usage

Pathway to habitual usage of digital payments

MORE KEY DATA AVAILABLE IN SIIPS 2023

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SIIPS CONSUMER VIDEOS

Watch the experience of IPS consumers in African countries

SIIPS 2023 CASE STUDIES

Details for each scheme include its origin story, governance and operational framework, and lessons on inclusivity gleaned through in-depth interviews with IPS stakeholders.

Malawi: NATSWITCH

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Rwanda: eKash

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Zambia: National Financial Switch

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CEMAC: GIMACPAY

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CONSUMER RESEARCH INSIGHTS

Learn about current consumer behaviors, preferences, and needs related to retail instant payment systems in five distinct countries: Cameroon, Morocco, Malawi, Rwanda, and Senegal.

Cross-Country Findings

Country Analysis: Cameroon

Country Analysis: Morocco

Country Analysis: Malawi

Country Analysis: Rwanda

Country Analysis: Senegal

GET MORE INSIGHTS ABOUT IPS IN AFRICA

SIIPS 2023 delves deeper into understanding the dynamics influencing African payment system development in Africa through four detailed case studies.

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In the media

In the media
24 April 2024 / techcabal
Africa’s digital future: Why transparent data is key to financial inclusion
While on a speaking tour in 2022 to share findings from a report I co-authored, a central bank official from West Africa shared a key observation. The report aimed to document the relationship between financial inclusion and the infrastructure provided by inclusive, instant payment systems, based on data available publicly.
In the media
24 April 2024 / ecdpm
Gaps in interoperability as barriers to inclusive digital payments in Africa
Ennatu Domingo and AfricaNenda’s Jacqueline Jumah and Sabine Mensah argue that instant payment systems play a crucial role in Africa’s digital public infrastructure, but that there are still many barriers to its interoperability – which Europe can help address.
In the media
25 March 2024 / Central Bank Payments News
AfricaNenda: Digital Payment Access is Steadily Increasing. What Barriers Remain?
The instant payment ecosystem in Africa continues to show increased dynamism, as the number of instant payment systems (IPS) expands and more transactions run through them, as documented in the State of Inclusive Instant Payment Systems in Africa 2023 report (SIIPS 2023).

Other resources

19 April 2024
AfricaNenda Annual Report 2023
2023 has been a pivotal year for AfricaNenda. Since its launch, we have emerged as a crucial force in promoting financial inclusion across Africa, driving the adoption of inclusive, instant payment systems to empower over 400 million unbanked adults on the continent.
19 March 2024
Cross-Border Retail Payment Policy and Regulatory Harmonization
This publication is an excerpt from the State of Inclusive Instant Payment Systems (SIIPS) in Africa 2023 report, by AfricaNenda, the World Bank Group and United Nations Economic Commission for Africa. It shines a spotlight on cross-border payments and the regulatory context in which they operate, as well as the building blocks for policy harmonization.
19 March 2024
Barriers And Opportunities To Addressing Women's Digital Financial Inclusion
This publication is an excerpt from the State of Inclusive Instant Payment Systems (SIIPS) in Africa 2023 report, by AfricaNenda, the World Bank Group, and the United Nations Commission for Africa. It sheds light on how IPS can address barriers to women’s financial inclusion.