Somalia Plans Regional Payment Integration Through Instant Payments System.
Somalia's Central Bank is expanding its Instant Payment System (SIPS) to integrate commercial banks and mobile money operators. The initiative aims to improve financial inclusion and connect with the Pan-African Payment and Settlement System by late 2026.
Why it matters
Modernizing payment infrastructure is a critical step for Somalia's economic integration into the East African Community and broader regional markets.
MOGADISHU (Dawan) – July 25, 2026 – Somalia’s Central Bank plans to expand its Instant Payment System (SIPS) by integrating commercial banks, mobile money operators and regional payment networks, according to an opinion article by Central Bank Governor Abdirahman M. Abdullahi published in Business Daily Africa . The governor said Somalia’s payments landscape had long been fragmented, with banks and mobile money providers operating separate systems that limited interoperability and contributed to financial exclusion. He noted that while the National Payment System, introduced in 2021, modernised large-value interbank transactions, it did not provide the continuous infrastructure required for everyday retail payments. Abdullahi said SIPS, launched in January 2025 and built on the ISO 20022 messaging standard, enables instant payments across participating institutions.
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