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Africa must cash in on digital payments systems to boost financial inclusion and economic growth

Africa must cash in on digital payments systems to boost financial inclusion and economic growth
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Africa must cash in on digital payments systems to boost financial inclusion and economic growth | United Nations Economic Commission for Africa

Addis Ababa, 8 November 2023 (ECA) - Africa should accelerate adoption of Instant and Inclusive payment systems (IIPS) to ensure financial inclusion and boost economic empowerment of its people. The statement was made during the launch of the second edition of the State of Instant and Inclusive Payment Systems (SIIPS) Report 2023, jointly produced by AfricaNenda, the Economic

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Africa: Over 350 Million Africans Financially Excluded - Report

Africa: Over 350 Million Africans Financially Excluded - Report
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Over 350 million Africans financially excluded

The report says despite the high number of mobile phone users in Africa, a chunk of its people remain outside the financial ecosystem.

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Digital Payments Systems

Estimates show that more than 350 million adults in Africa are not part of the formal financial system.

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