Three years after it was first proposed, the Bank of South Sudan (BoSS) has launched its first National Instant Payment System (NIPS) in collaboration with the AfricaNenda Foundation, an advocacy group for instant payments. It is a critical step for South Sudan’s financial system to address payment efficiency and access gaps.
NIPS will enable instant transactions to cut delays, lower costs, and improve financial inclusion for over 6 million adult citizens with limited access to formal banking services. MTN and Zain dominate payments in South Sudan due to the lack of a domestic or regional instant system.
NIPS integrates with systems like the Automated Clearing House (ACH), Real-Time Gross Settlement (RTGS), and instant fund transfers (IFT), a step toward addressing these issues, central bank governor Johnny Ohisa Damian told journalists at the launch on Wednesday.
“The start of the NIPS journey marks a monumental step forward for financial and socio-economic inclusion in South Sudan,” he said.
NIPS aligns with regional financial modernisation, mirroring the East African Community’s (EAC) push for instant retail payments, guided by a 2024 master plan. Burundi and the Democratic Republic of the Congo are the only countries in the EAC without an instant payment platform.
Backed by the AfDB, World Bank, and Gates Foundation, EAC nations have pursued payment integration for over a decade, with Kenya, Tanzania, Uganda, and Rwanda already linking their RTGS systems via the East African Payments System.
This initiative is significant for South Sudan, which gained independence in 2011. The country has struggled with persistent economic instability, underdeveloped financial systems, and reliance on cash-based transactions. The move is not just about technology—it’s about creating a foundation for economic stability and growth in a nation still rebuilding from decades of conflict.
Modernising its financial infrastructure will help the government better support businesses and improve government revenue collection, although the success of this system will depend on effective implementation, public trust, and ongoing support to ensure it meets the needs of all South Sudanese.
