BCRG Launches Instant Payment System to Revolutionize Guinea’s Digital Economy

In a landmark move for Guinea’s financial sector, the Central Bank of the Republic of Guinea (BCRG)  officially launched the workshop for the implementation of the Instant Payment System (SPI) on Thursday, December 18, 2025. Presided over by the First Deputy Governor, El Hadj Mohamed Lamine CONTE, the project is supported by the AfricaNenda Foundation and represents a major leap toward modernizing the nation’s digital public infrastructure.

The SPI is designed as a sovereign, interoperable digital platform built on Mojaloop open-source technology. This system will enable Guineans to send and receive funds in real-time, 24/7, bridging the gap between different financial providers including banks, microfinance institutions, and mobile money operators. By allowing instant transfers across these various “wallets,” the BCRG aims to dramatically reduce the country’s heavy reliance on physical cash—where currently nearly 94% of issued banknotes remain outside the formal banking system.

Beyond simple convenience, the SPI serves as a strategic tool for financial inclusion, specifically targeting rural populations and the unbanked. The system is modeled after successful global benchmarks like India’s UPI and Brazil’s PIX, with the intent to lower transaction costs and foster a more competitive environment for local fintech startups. It also prepares Guinea for deeper regional economic integration by aligning with the Pan-African Payment and Settlement System (PAPSS) and ECOWAS standards.

The First Vice Governor emphasized that the success of the SPI depends on a “collective engagement,” calling on all stakeholders—from traditional banks to emerging fintechs—to embrace this transformation. By digitizing government-to-person (G2P) and merchant payments, the BCRG expects to enhance economic transparency, boost tax revenue, and provide a more resilient financial ecosystem for all citizens.