Players in the Instant Payment System (IPS) industry gathered in Accra, Ghana, on Wednesday for the launch of the 2024 edition of the State of Inclusive Instant Payment Systems in Africa Report.
Bankers, regulators, multilateral institutions, policymakers across Africa, and other global partners attended the launch at the Mövenpick Ambassador Hotel, Accra.
The annual report, produced in partnership with AfricaNenda, the World Bank, and the United Nations Economic Commission for Africa (UNECA), highlights the growth of Instant Payment Systems (IPS) across Africa and explores their impact on financial inclusion.
The 116-page report presents a picture of a rapidly evolving financial ecosystem that holds immense promise for Africa’s underserved communities.
“In just five years, the volume and value of transactions processed through IPS in Africa have grown by 37 per cent and 39 per cent respectively. This growth reflects a…