Three years after its initial proposal, the Bank of South Sudan (BoSS) has officially launched the country’s first National Instant Payment System (NIPS) in partnership with the AfricaNenda Foundation, an organization advocating for instant payments. This marks a major milestone in enhancing payment efficiency and expanding financial access in South Sudan.
NIPS will facilitate instant transactions, reducing delays, lowering costs, and improving financial inclusion for over 6 million adults with limited access to formal banking. Currently, MTN and Zain dominate the country’s payment landscape due to the absence of a domestic or regional instant payment system.
The new system integrates with the Automated Clearing House (ACH), Real-Time Gross Settlement (RTGS), and instant fund transfers (IFT), helping to bridge these financial gaps, central bank governor Johnny Ohisa Damian announced during the launch on Wednesday.
“The introduction of NIPS is a transformative step toward financial and socio-economic inclusion in South Sudan,” he said.
NIPS aligns with broader regional financial modernization efforts, following the East African Community’s (EAC) push for instant retail payments as outlined in its 2024 master plan. Among EAC nations, only Burundi and the Democratic Republic of the Congo have yet to adopt an instant payment platform.
Supported by the AfDB, World Bank, and Gates Foundation, EAC nations have been working on payment integration for over a decade. Kenya, Tanzania, Uganda, and Rwanda have already linked their RTGS systems through the East African Payments System.
This initiative is particularly significant for South Sudan, which gained independence in 2011 but has faced ongoing economic instability, a weak financial infrastructure, and a heavy reliance on cash transactions. Beyond technological advancement, the new system lays the groundwork for economic stability and growth in a nation still recovering from years of conflict.
By modernizing its financial framework, the government aims to better support businesses and enhance revenue collection. However, the system’s success will depend on effective implementation, public trust, and sustained support to ensure it meets the financial needs of all South Sudanese.