AfricaNenda’s 2024 Report Highlights Progress in Inclusive Instant Payment Systems.

Tuesday 29th April 2025

By inAfrika Reporter

AfricaNenda Foundation has released its 2024 Annual Report, marking a significant year in advancing inclusive instant payment systems (IIPS) across Africa. The report underscores the organization’s transition into an independent foundation, enhancing its capacity to drive financial inclusion.

Despite the growth in digital financial services, nearly 400 million Africans remain excluded from formal financial systems. AfricaNenda’s State of Inclusive Instant Payment Systems (SIIPS) in Africa Report reveals that IIPS are crucial for enabling low-cost, real-time transactions, especially for underserved communities.

In 2024, AfricaNenda expanded access to IIPS in countries like Cabo Verde, Mauritania, Rwanda, South Sudan, and the CEMAC region. The foundation provided technical expertise, capacity building, and advocacy to policymakers and financial institutions, strengthening governance frameworks to ensure scalable and inclusive payment systems.

Looking ahead, AfricaNenda aims to enable financial access for 260 million financially excluded Africans by 2030. As an independent foundation, it will focus on scaling technical assistance, strengthening regional integration, mobilizing funding for digital financial infrastructure, and empowering financial service providers.