The Bank of South Sudan (BoSS) has announced the upcoming launch of the country’s first-ever National Instant Payment System (NIPS), developed in partnership with the AfricaNenda Foundation.
This landmark initiative aims to revolutionize South Sudan’s financial sector by providing secure, real-time payment solutions.
The launch of NIPS marks a significant stride in the country’s efforts to foster financial inclusion and strengthen its digital payment infrastructure, a crucial step in the country’s post-independence development.
NIPS is designed to enable a wide variety of transactions, including person-to-person (P2P), person-to-business (P2B), and government-to-person (G2P) payments, ensuring interoperability between banks, mobile money providers, and other financial institutions. By streamlining payments, the system is expected to enhance the accessibility of financial services for all South Sudanese, bridging the gap between rural and urban areas and empowering both individuals and businesses in the process. As the central piece of South Sudan’s digital payment ecosystem, it will play a key role in improving the efficiency of government operations and facilitating economic growth.
Johnny Damian, Governor of the Bank of South Sudan, emphasized the monumental impact of NIPS on both financial and socio-economic inclusion, stating that the system will create a more resilient digital economy for the nation. Robert Ochola, CEO of the AfricaNenda Foundation, praised the initiative for its potential to unlock the benefits of digital financial services for previously excluded populations across South Sudan. The collaboration between BoSS and AfricaNenda is part of a broader effort to accelerate the scale-up of inclusive payment systems across Africa, with South Sudan set to benefit from this innovative approach to modern financial services.