In a significant milestone for South Sudan’s financial sector, the Bank of South Sudan (BoSS) has launched the country’s first National Instant Payment System (NIPS) in collaboration with the AfricaNenda Foundation.

This move aims to address payment efficiency and access gaps, enabling instant transactions that will cut delays, lower costs, and improve financial inclusion for over 6 million adult citizens with limited access to formal banking services.

NIPS integrates with existing systems like the Automated Clearing House (ACH), Real-Time Gross Settlement (RTGS), and instant fund transfers (IFT), marking a crucial step towards modernizing South Sudan’s financial infrastructure.

This development aligns with the East African Community’s (EAC) push for instant retail payments, as outlined in its 2024 master plan.

The launch of NIPS is particularly significant for South Sudan, which has struggled with economic instability, underdeveloped financial systems, and reliance on cash-based transactions since gaining independence in 2011.

By creating a foundation for economic stability and growth, NIPS is expected to help the government better support businesses and improve government revenue collection.

However, the success of NIPS will depend on effective implementation, public trust, and ongoing support to ensure it meets the needs of all South Sudanese.

As the country continues to rebuild from decades of conflict, this initiative marks a monumental step forward for financial and socio-economic inclusion in South Sudan.