The West African Economic and Monetary Union (UEMOA) marked a significant milestone on September 30, 2025, with the launch of its Interoperable Instant Payment Platform (PI-SPI). The initiative, spearheaded by the Central Bank of West African States (BCEAO), was unveiled in Dakar at a high-level ceremony attended by ministers, financial leaders, and regional stakeholders. Designed to modernize financial infrastructure across UEMOA’s eight member states, PI-SPI is expected to strengthen inclusion, security, and innovation within the region’s payment ecosystem.
A Strategic Vision for Digital Payments
The ceremony was presided over by Cheikh Diba, Senegal’s Minister of Finance and Budget, representing the UEMOA Council of Ministers. Also in attendance was Alioune Sall, Senegal’s Minister of Communication, Telecommunications, and Digital Economy, along with technical and financial partners from across the Union. In his address, BCEAO Governor Jean-Claude Kassi Brou emphasized that the launch of PI-SPI represents the culmination of a shared vision to build a more inclusive and efficient financial system across West Africa.
Features of the PI-SPI System
The PI-SPI platform enables 24/7 instant, interoperable payments across all financial service providers in UEMOA. By allowing seamless transactions between banks, fintechs, mobile money operators, and microfinance institutions, the system is expected to reduce reliance on cash while fostering trust in digital financial services. The platform has been fully developed internally by BCEAO, with the contribution of young engineers from leading universities across the region, under the guidance of Abdoulaye Seck, former Secretary General of the Central Bank.
Driving Financial Inclusion and Economic Integration
Over the past decade, UEMOA has made substantial progress in financial digitalization. Electronic payments surged from 260 million in 2014 to over 11 billion in 2024, while financial inclusion jumped from less than 15 percent two decades ago to an estimated 74 percent today. By providing faster, cheaper, and universally accessible payment options, PI-SPI aims to consolidate these gains, reduce inequality in access to financial services, and accelerate regional economic integration.
Benefits for Stakeholders
The platform is designed to serve the entire financial ecosystem. For individuals, it ensures instant and cost-free access to their funds across all channels. Merchants benefit from standardized QR codes that simplify payment acceptance, while businesses gain improved cash flow management and automated payment processing. Governments are expected to optimize salary payments, social transfers, and tax collection, while banks and fintechs will be able to expand their service offerings, reduce integration costs, and unlock new opportunities for growth.
Strengthening Digital Public Infrastructure
In Senegal, the PI-SPI launch aligns with the government’s #NewDealTechnology strategy, which seeks to digitize public services and modernize the economy. The Ministry of Communication and Digital Economy confirmed that the platform will serve as the technical backbone for digital payments, supporting initiatives like the integration of Sen Trésor, the Treasury’s payment system. By linking public and private financial infrastructure, the platform is positioned as a cornerstone of the region’s transition toward a cashless economy.
Mobilization and Next Steps
Governor Brou applauded the early participation of banks, e-money institutions, and microfinance providers already connected to the platform, calling on all financial institutions in the Union to join the initiative. He highlighted BCEAO’s decision to develop the platform internally as a strategic move that demonstrates the region’s technical capabilities and long-term self-reliance. To ensure widespread adoption, a regional communication campaign will be rolled out across the eight UEMOA countries, alongside targeted support to national treasuries for rapid integration.
The launch of PI-SPI signals a new era for financial services in West Africa, one characterized by speed, security, and inclusivity. By offering instant, interoperable payments across UEMOA, the system is set to enhance trust in digital financial services, strengthen regional integration, and promote innovation in both public and private sectors. As regional leaders affirmed during the launch, PI-SPI is more than a payment system; it is a transformative step toward a modernized and inclusive financial future for the Union.