Somalia Plans Regional Payment Integration Through Instant Payments System.

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. Once fully integrated, the platform will connect all 14 commercial banks and eight mobile money and e-wallet providers through a single network, supporting person-to-person, merchant, government and business payments.

He said the system is operated by the Somalia Payment Switch, a partnership between the Central Bank and 13 commercial banks, describing the collaborative model as more resilient than infrastructure managed solely by the central bank. Integration with the national QR payment standard, SOMQR, is also expected to simplify digital payments for merchants, including small informal businesses.