By HeapNews
Africa’s digital revolution is gathering pace, yet 400 million people across the continent remain financially excluded, a paradox that experts warn could deepen inequality if not urgently addressed.
At a peer learning visit hosted by the AfricaNenda Foundation in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS) in Lagos, stakeholders from over 20 African countries made a strong case for building homegrown, African-owned digital payment systems tailored to the continent’s realities.
“Africa can build its own systems and make them world-class,” said Dr. Robert Ochola, CEO of AfricaNenda Foundation, stressing that imported technologies often lack the flexibility to respond to Africa’s unique economic and social contexts.
The five-day forum highlighted that financial inclusion goes beyond digitization. Solutions, participants argued, must be designed “from the margins inward”, addressing the needs of informal traders, women, rural communities, and the unbanked. This includes USSD access for those without smartphones, agent networks in remote areas, and offline solutions that guarantee reliability even in low-connectivity regions.
NIBSS as a Blueprint for Africa
Nigeria’s NIBSS has become a continental model for inclusive innovation. Processing nearly a billion transactions monthly, it offers real-time clearing, strong security, and integration with banks, fintechs, mobile operators, and agent networks.
The unveiling of the National Payment Stack (NPS) during the event marked a new milestone. Designed as a next-generation homegrown platform, NPS is equipped with instant settlement, cross-border functionality, fraud detection tools, and integration with national identity systems such as the NIN, BVN, and TIN.
“The National Payment Stack is more than just a platform; it’s a foundational investment in Nigeria’s financial future,” said Mr. Premier Oiwoh, Managing Director/CEO of NIBSS.
“When it comes to uptime, 99.9% isn’t good enough. That 0.1% can be life-altering. For us, the only acceptable KPI is 100%,” he added, underscoring the importance of reliability in building user trust.
Toward a Pan-African Digital Finance Future
Speakers also called for stronger regulatory collaboration across borders. Mr. Musa Jimoh, Director of Payment System Policy at the Central Bank of Nigeria, proposed the creation of an Africa Regulators Forum on Instant Payment Systems** to harmonize standards and strengthen trust.
For AfricaNenda, the Lagos forum was not just a technical exchange but a collective commitment to a Pan-African vision of scalable, interoperable, and inclusive payment systems.
“The goal is not simply to digitize; it is to include,” Dr. Ochola emphasized. “We must build systems that reflect our realities, respect our diversity, and respond to our ambitions.”