This publication is an excerpt from the State of Inclusive Instant Payment Systems (SIIPS) in Africa 2024 report, by AfricaNenda Foundation, the World Bank Group and the United Nations Economic Commission for Africa. It showcases approaches to enabling the increased participation by fintech entities, leading to IPS inclusivity.

Throughout the SIIPS 2024 report, we highlight ways in which the broader financial ecosystem for a given country or region affects IPS inclusivity. The regulatory environment is one of the most powerful ecosystem forces.

For example in the landscape chapter, we see how central bank engagement and interoperability mandates contribute to the progression of IPS inclusivity, in accordance with the AfricaNenda inclusivity spectrum framework.

Another regulatory area that has significant impact on IPS inclusivity and growth is licensing practices for non‑bank PSPs.

This publication specifically explores the current state of fintech licensing in the countries with an IPS, and what changes could enable more participation by fintech actors, resulting in inclusivity benefits.