(LVDE) – On September 30, 2025, the Central Bank of West African States (BCEAO) officially launched its Interoperable Instant Payment Platform (PI-SPI) in Ouagadougou. This initiative is set to transform the payment system within the West African Economic and Monetary Union (WAEMU), with major implications for financial inclusion and transaction efficiency.
In a packed hall adorned with the flags of WAEMU’s eight member states, the BCEAO inaugurated its Interoperable Instant Payment Platform (PI-SPI) in a festive yet solemn atmosphere. The launch, held on September 30, 2025, marks a milestone in the modernization of financial services in the sub-region. According to BCEAO officials, the platform is designed to enable instant money transfers between financial entities, including banks, microfinance institutions, and electronic money issuers.
Fatou Dieng Guèye, Deputy Project Director, emphasized that the PI-SPI is built on strict security standards aimed at reducing fraud risks and safeguarding transactions. “This platform makes life easier for users by making payments instant, simple, and secure,” she noted, stressing the importance of greater accessibility for all WAEMU citizens.
Guy Martial Awona, President of the Federation of Professional Banking Associations of the WAEMU area, also praised this development. According to him, the PI-SPI creates an integrated financial ecosystem linking banks and financial institutions, which is critical for economic growth. He added that awareness efforts are essential to ensure optimal adoption of this new technology.
BCEAO Governor Jean-Claude Kassi Brou highlighted the platform’s significance, describing it as “a new step toward a more inclusive financial union.” He added: “The PI-SPI removes barriers between different financial actors, allowing everyone to make transactions at any time, without complications.” This infrastructure aims to make payments not only faster but also more affordable, thereby improving users’ quality of life.
The figures speak volumes: electronic money transactions in WAEMU skyrocketed from 260 million to 11.224 billion CFA francs between 2014 and 2024. The number of electronic money accounts surged from 18 million to 248 million, reflecting the growing adoption of digital payment services.
Cheikh Diba, Senegal’s Minister of Finance and Budget, underscored the historic importance of the PI-SPI launch for WAEMU. “It is the culmination of a shared vision that will make our financial system more efficient and inclusive,” he said, highlighting the benefits of a modernized payment infrastructure.
The PI-SPI allows citizens to make payments within seconds, 24/7. Open to all, the platform enables instant, interoperable transactions at no cost to individuals. With a single QR code, all types of payments can be processed, and access is secured through prior authentication.
This BCEAO initiative represents a significant step toward an integrated digital economy in the region. Financial players, including banks and microfinance institutions, will be able to streamline operations and explore new business opportunities. By promoting financial inclusion, the PI-SPI has the potential to reshape the way transactions are conducted, making financial services more accessible to a broader population.
In a context where financial innovation is vital for economic development, the BCEAO demonstrates its commitment to modernizing the financial landscape of WAEMU, setting the region on a path toward sustainable and inclusive growth.
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