• Latest
  • Trending
Sierra Leone launches instant payment service to boost cashless economy

Sierra Leone launches instant payment service to boost cashless economy

February 17, 2025
How Africa’s Gen Z founders are building startups before graduation

How Africa’s Gen Z founders are building startups before graduation

September 26, 2025
YouTube now lets viewers turn off video end screens

YouTube now lets viewers turn off video end screens

September 26, 2025
Apple iPhone 18 Pro rumours: Design, performance, and camera upgrades

Apple iPhone 18 Pro rumours: Design, performance, and camera upgrades

September 26, 2025
South African investment giant raises caution on Bitcoin ETF risks

South African investment giant raises caution on Bitcoin ETF risks

September 26, 2025
OpenAI’s ChatGPT Pulse now available for Pro users

OpenAI’s ChatGPT Pulse now available for Pro users

September 26, 2025
MSport 2025

MSport 2025: Nigeria’s #1 Sports Betting Site, Powered by Chelsea & BVB

September 25, 2025
MNT-Halan introduces Egypt’s first secure lending solution via Halan App

MNT-Halan introduces Egypt’s first secure lending solution via Halan App

September 25, 2025
Visa, intella partner to boost MENA’s financial institutions with Arabic conversational AI

Visa, intella partner to boost MENA’s financial institutions with Arabic conversational AI

September 25, 2025
Airtel Africa invests in education with 100 scholarships and new tech hubs

Airtel Africa invests in education with 100 scholarships and new tech hubs

September 25, 2025
SINOTRUK enters Libya with Aseel Auto as exclusive distributor in Benghazi

SINOTRUK enters Libya with Aseel Auto as exclusive distributor in Benghazi

September 25, 2025
Your one-stop tech hub! Get the latest updates on AI, cybersecurity, fintech, and emerging technologies.
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Tech TV
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Tech TV
    • General News
    • How To
    • Reviews
  • Cryptocurrency
  • Fintech
  • Startups
  • Ai
No Result
View All Result
Techpression
No Result
View All Result
Home Business Fintech

Sierra Leone launches instant payment service to boost cashless economy

Oluwatosin Adeyemi by Oluwatosin Adeyemi
February 17, 2025
149 3
0
Sierra Leone launches instant payment service to boost cashless economy

Sierra Leone launches instant payment service to boost cashless economy

470
SHARES
Share on FacebookShare on TwitterWhatsAppTelegram

Sierra Leone on Thursday introduced its instant payment service through the national switch, enabling citizens to send money instantly between banks, mobile carriers, and bank accounts. This is part of the government’s effort to boost cashless economy.

By April 1, all participants in the industry must integrate the system, which is already being used by seven banks and two mobile money service providers.

“Today we have a system that is directly connected to the banks. Through interoperability, we are removing an additional cost, which reduces our operating costs. This allows us to improve the quality of service offered to customers,” explained Martison Obeng-Agyei (pictured, right), Managing Director of Afrimoney Sierra Leone (Africell).

Read also: Sierra Leone’s petroleum directorate joins African Energy Week 2025 as strategic partner

According to David Mansaray, CEO of Orange Money Sierra Leone (Orange), this project will make it easier for people to get loans and, in the end, make banking and business-to-business transactions more efficient.

RelatedPosts

Sierra Leone looks to Ghana’s digital payment success to boost economic growth 

From Bitcoin to Cash: How to do crypto exchanges in Sierra Leone

Buying Bitcoin in Sierra Leone: A beginner’s guide to crypto trading

BSL’s goal to boost cashless economy 

The Bank of Sierra Leone’s (BSL) goal is to create a cashless economy by revolutionising the nation’s payment system.

The central bank has progressively introduced bank card interoperability and then point-of-sale interoperability after the national payment switch was introduced in April 2023. To enable Liberians to use payment cards issued in Sierra Leone abroad, the international gateway would be opened in the next phase.

Recall that the central bank of Sierra Leone reported that as of December 31, 2023, there were 8.2 million mobile money accounts in the country, with only 1.7 million of those accounts being active.

Additionally, the latter found 22.3 million bank accounts, but it did not specify how many individuals owned them. But according to the BSL, 29% of people over the age of 29 had an account with a financial institution or a mobile money service provider as early as 2022.

Tags: Sierra leone
Oluwatosin Adeyemi

Oluwatosin Adeyemi

Oluwatosin Adeyemi is a seasoned writer with 5+ years of experience. He holds a degree in Animal Science from Olabisi Onabanjo University. A hardworking and creative individual with a passion for teamwork and self-improvement.

No Result
View All Result

Quick Links

  • Tech News
  • Cryptocurrency
  • Fintech
  • Startups
  • Business

Follow Us:

  • facebook
  • instagram
  • Twitter(X)
  • Linkedin
  • YouTube
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 Techpression.com -Techpression Media Limited

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in .

No Result
View All Result
  • Home
  • Tech News
    • Africa Tech
    • Global Tech
    • Tech with Pelumy
    • Tech Careers
    • Reviews
    • How To
    • General News
  • Cryptocurrency
  • Business
  • Fintech
  • Startups
  • Featured
  • Ai
  • Tech TV

© 2025 Techpression.com -Techpression Media Limited

techpression.com
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

3rd Party Cookies

This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.

Keeping this cookie enabled helps us to improve our website.