BCEAO Launches Region-Wide Instant Payments Platform to Transform Financial Transactions in West Africa.
Quidah is an online platform that connects investors with curated opportunities and expert insights on Africa’s emerging markets, while offering businesses promotional services, partnership facilitation, and market intelligence to attract capital and grow their operations.
Industries
The Central Bank of West African States (BCEAO) officially launched its interoperable Instant Payments Platform (PI-SPI) on 30 September 2025, marking a significant advancement in digital payments across the eight member countries of the West African Economic and Monetary Union (UEMOA). The launch event was held in Dakar under the presidency of Governor Jean-Claude Kassi-Brou and was simultaneously broadcast to Lomé, signalling a milestone in modernising financial infrastructures in the region.
The new platform enables instant, irrevocable fund transfers around the clock, linking banks, microfinance institutions, electronic money issuers, and payment service providers. This system significantly reduces transaction times and costs, while boosting financial inclusion by encouraging a shift from cash to electronic payments.
In Togo, three banks—Coris Bank, Ecobank, and Orabank—have begun operating on the platform, with several other institutions including BOA, BIAT, Cofina, and Sunu Bank set to join in the near future. Speaking on the occasion, Guy Martial Awona, CEO of Orabank Togo and president of the UEMOA banking federation, hailed the initiative as a pivotal step toward an integrated ecosystem where banks, microfinance institutions, and fintech firms can operate seamlessly on a single platform tailored to the region’s digital economy.
The platform’s introduction is supported financially by the Bill & Melinda Gates Foundation and the African Development Bank, underlining the critical role of partnerships in fostering innovative financial solutions in West Africa. Since early June 2025, extensive pilot testing involving 86 banks, 70 decentralised financial institutions, 10 electronic money issuers, and six fintech companies has confirmed the platform’s security, interoperability, and user-friendliness ahead of full deployment.
This innovative infrastructure draws inspiration from Brazil’s highly successful PIX system, which revolutionised payments by offering instant, free-to-use transfers accessible to the majority of the population. However, unlike Brazil, the BCEAO has opted for a phased integration approach without immediately mandating participation by all banking institutions.
The launch of the PI-SPI platform opens multiple business and investment opportunities in the UEMOA region. There is potential for fintech companies to develop value-added services built on the interoperability layer, including payment solutions tailored for MSMEs and underserved populations. Banks and microfinance institutions may capitalise on increased transaction volumes and enhanced customer engagement through digital channels. Investments in cybersecurity, digital identity verification, and compliance infrastructure will be critical to support the platform’s expansion and regulatory alignment. Moreover, service providers can explore partnerships to integrate mobile money wallets, digital banking, and cross-border remittances. Regional governments and development partners have opportunities to support digital literacy programmes and infrastructure expansion, fostering financial inclusion and economic growth across West Africa.
