SIIPS 2024 Report

Overview

SIIPS 2024 delves into the continued evolution of instant payment systems across Africa, examining supply and demand dynamics. It sheds light on the key trends, challenges, and opportunities driving digital payment adoption, providing stakeholders with actionable insights to foster growth and inclusivity.

This year’s edition features new developments in fintech licensing, and eKYC, and explores the role of IPS in advancing digital public infrastructure (DPI) initiatives across the continent.

Key data infographics

Explore some of the key findings from SIIPS 2024 through data and figures. Click on the images below to see more.

SIIPS 2024 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.

The Republic of Mauritius has a strategy to further digitalize its economy. Even though over 90% of adults in the country own a financial account, the economy remains predominantly cash based (Bank of Mauritius, 2024)
Despite high financial account ownership rates, the South African economy still has high levels of cash use. Approximately eight out of 10 retail transactions were conducted in cash before the COVID‑19 pandemic (BankservAfrica, 2024).
Digital financial services (DFS) have significantly transformed the financial services landscape in Tanzania over the past decade and have played a crucial role in accelerating financial inclusion.
The Republic of Zimbabwe experienced widespread cash shortages around 2010, driving the demand for a solution that could facilitate real‑time digital value exchanges as an alternative to cash.

SIIPS Consumer Videos

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.

Get More Insights About IPS In Africa

SIIPS 2024 delves deeper into understanding the dynamics influencing African payment system development in Africa through four detailed case studies.