EZULWNI – Eswatini has been formally recognised as one of Africa’s newest entrants into the continent’s fast-growing instant payments ecosystem.
This follows the launch of the Eswatini Payment Switch (EPS) Fast Payment Module in December 2024.
This is according to the State of Inclusive Instant Payment Systems (SIIPS) in Africa 2025 Report, a flagship publication by the AfricaNenda Foundation, which maps the progress, inclusivity and readiness of instant payment systems across the continent.
The report was officially launched on Thursday at the Central Bank of Eswatini (CBE) Complex in Ezulwini, in an event that brought together policymakers, regulators, financial service providers and regional payments experts, marking Eswatini’s first time hosting the continental launch of AfricaNenda’s flagship publication.
The report places Eswatini among only five African countries that gained domestic instant payment system functionality over the past year, alongside Algeria, Libya, Sierra Leone and Somalia.
This milestone represents a significant leap in the kingdom’s digital financial development trajectory—moving it from a market reliant on fragmented payment channels to one with a unified, real-time, interoperable payment backbone, a milestone that the Central Bank of Eswatini (CBE) says is only the beginning.
The launch of the EPS Fast Payment Module, according to SIIPS 2025, has positioned Eswatini as a cross-domain IPS market.
This means the system enables all-to-all interoperability between banks, mobile money operators, microfinance institutions and other licensed payment players.
Practically, this allows transactions to flow seamlessly across different account types – bank-to-wallet, wallet-to-bank or wallet-to-wallet – in real time.
Previously, such interoperability was limited or required indirect channels, often resulting in delays, inefficiencies or higher user costs.
