South Sudan Moves to Launch Country’s First Instant Payment System

Source: Premium Times

The Bank of South Sudan (BoSS) is set to launch the country’s first National Instant Payment System (NIPS) in collaboration with the AfricaNenda Foundation. This announcement was contained in a joint statement issued by the Bank of South Sudan and AfricaNenda on Monday.

Following South Sudan’s independence in July 2011, the Bank of South Sudan was established under the Bank of South Sudan Act, 2011. Since gaining independence, the country has struggled with internal conflicts. However, this initiative by the central bank aims to expand instant payment systems across Africa.