‘Entrepreneurship To Flourish’: Africa’s Instant Payments Hit 64 Billion Transactions, New Report Shows
The new report shows transaction volumes have grown at an average annual rate of 35% since 2020.
Africa’s instant payment systems processed 64 billion transactions worth nearly $2 trillion in 2024 as adoption accelerated across the continent, according to the fourth edition of the State of Inclusive Instant Payment Systems (SIIPS) 2025 Report.
The report, published by the AfricaNenda Foundation in partnership with the World Bank and the United Nations Economic Commission for Africa (UNECA), shows 36 systems are now live in 31 countries, with five launched in the past year.
The study found rising interoperability, with half of Africa’s live systems connecting banks, mobile money operators and fintech firms through cross-domain platforms. Nigeria’s Instant Payments (NIP) became the first to reach “mature inclusivity” on AfricaNenda’s Inclusivity Spectrum, while 10 others advanced to progressed levels.
