Lomé, October 3, 2025 – The Central Bank of West African States (BCEAO) has updated the list of financial institutions authorized to offer services of the Instant Payment Interbank Platform (PI-SPI) to the public. This update confirms the growing importance of the digital payment ecosystem in the Union, with 62 institutions spread across the eight member countries.
A progressive and balanced expansion throughout the Union
Senegal leads with 15 participants, followed by Ivory Coast (13) and Mali (8). Burkina Faso has 7 institutions, Togo 6, Benin 5, and finally Guinea-Bissau and Niger with 4 each.
This distribution illustrates BCEAO’s commitment to ensuring balanced regional coverage, promoting interoperability and financial inclusion.
Dominant players in the network
The major banking groups in the region – Bank of Africa (BOA), Coris Bank International, Ecobank, and Orabank – are present in all Union countries, confirming their leading role in the digital transformation of payments. Microfinance institutions and fintechs such as Baobab, Cofina, Mobile Cash SA, Touchpoint Financial Services, and mobile money operators (Orange Money, Moov Money, Orange Finances Mobiles) complement the ecosystem, reinforcing the convergence between traditional finance and digital finance.
A mature regional architecture
Launched by BCEAO to modernize payments in UEMOA, PI-SPI allows instant transactions 24/7 between banks, electronic money institutions, and approved microfinance institutions. The increasing number of actors offering services to the public is a crucial step towards full interoperability of electronic payments in the region, and towards reducing cash usage.
A key step towards financial integration
With this updated list, BCEAO confirms the industrialization phase of the system, marking a turning point for local and regional banks. The growing adoption of PI-SPI consolidates UEMOA’s position as a pioneer zone for instant payments in Francophone Africa, while supporting financial inclusion and economic integration policies.
