South Sudan has launched its first National Instant Payment System (NIPS), three years after it was first proposed.
The system, developed in partnership with the AfricaNenda Foundation, aims to improve payment efficiency and financial access in the country.
Why it matters
Over 6 million adult South Sudanese lack access to formal banking, relying instead on telecom-led payment systems from MTN and Zain.
NIPS will enable instant transactions, reduce costs, and expand financial inclusion.
How it works
- NIPS integrates with existing financial infrastructure, including the Automated Clearing House (ACH), Real-Time Gross Settlement (RTGS), and instant fund transfers (IFT).
- It aligns with the East African Community’s (EAC) push for regional instant payments, where only Burundi and the Democratic Republic of the Congo lack similar platforms.
- The initiative is backed by the AfDB, World Bank, and Gates Foundation, which have supported regional payment integration for over a decade.
What they’re saying
“The start of the NIPS journey marks a monumental step forward for financial and socio-economic inclusion in South Sudan,” said central bank governor Johnny Ohisa Damian at the launch on Wednesday.
Zoom out
South Sudan, independent since 2011, has long struggled with economic instability and a cash-based financial system.
Modernizing payments could boost business, improve government revenue collection, and create a foundation for economic stability—if effectively implemented and widely adopted.
Source: TechCabal
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