Nigeria, Nov. 16 -- Over $1.9 trillion worth of instant payment transactions took place in Africa in 2024, according to the State of Inclusive Instant Payment Systems (SIIPS) Report released on Thursday.

The annual report, produced by the AfricaNenda Foundation in partnership with the Central Bank of Eswatini (CBE), the World Bank, and the United Nations Economic Commission for Africa (UNECA), shows significant growth and expansion of instant payment systems across the continent.

The 2025 report was launched in the Kingdom of Eswatini.

Instant payment systems (IPS) are open-loop retail payment platforms, enabling irrevocable, low-value, digital credit-push transactions in near real time, available 24 hours a day, 365 days a year.

"The...