African instant payment systems processed nearly $2 trillion in transactions in 2024, reflecting a remarkable growth trajectory in digital finance across the continent. The number of these systems increased to 36 in 25 countries, up from 31 the previous year, with Eswatini, Sierra Leone, and Somalia launching new platforms. This surge follows an average annual growth rate of 26% since 2020, totaling over 64 billion transactions. While these systems are primarily designed to connect mobile money wallets, facilitating low-value transactions, bank-to-bank instant payments are also gaining significant traction. This robust growth highlights a continent-wide shift toward faster, more inclusive digital finance, transforming how businesses and consumers move money every day.
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