The State Of Inclusive Instant Payment Systems Report Set To Be Launched

Africa Nenda, in conjunction with the World Bank and the United Nations Economic Commission for Africa, is set to launch this year’s State of Inclusive Instant Payment Systems report in Addis Ababa, Ethiopia on Wednesday, November 8, 2023.

The report delves deeper into the understanding of the state of instant and inclusive payment systems. It equips African payment system stakeholders with the critical insights required to unleash the full potential of IIPS for the benefit of our people.

The report comes at a time when there is a renewed push for businesses and individuals in Africa to embrace cashless forms of transactions in their daily dealings with money.

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According to the proponents of the report, cash is instant, does not require electronic devices, and can be perceived to be free or at least lower cost by consumers. However, cash has safety drawbacks, among other disadvantages, and the transition to digital payments has continued to increase.

Africa Nenda, among other stakeholders, has been pushing for instant and inclusive retail payment systems that have a testament to playing a pivotal role in creating universal access to financial services for all Africans.

“The rise of mobile transactions has been a key driver of the substantial gains in the reach of the financial services sector in recent years,” Africa Nenda said in a similar report leased in 2022.

As the 2023 report comes to life, there is no doubt that the world is thriving on the wheels of technology. It is like a bullet train that long left the station, moving at lightning speed, and those, not on board risk being left out, not just today, but forever.

Africa is perhaps the only continent in the world that has massive virgin opportunities in virtually every sector, waiting to be exploited. And technology has laid bare many opportunities that need to be exploited in the continent. Africa has the capability of bringing her African solutions.

Read Also: What Is The State Of Instant And Inclusive Payment Systems In Africa?

When it comes to digital payment systems, Africa has made some amazing steps in the right direction. From the success stories of the use of M-Pesa in Kenya (now landed in Ethiopia) to the expansive and towering nature of MTN, the African story is always being written.

To be part of the release of the report, please register through this link https://www.africanenda.org/en/launch-of-the-siips-report-2023