By Abu Bakarr Bangura
On January 22, 2025, the streets of Bo and Kenema were alive with vibrant floats and enthusiastic crowds as the Bank of Sierra Leone hosted a float parade to popularize the National Switch SAPS (Salone Payment Switch) Instant Payment System. This event was part of the Bank’s ongoing campaign to educate the public and raise awareness about the seamless transfer of funds across all payment platforms in Sierra Leone.
The parade featured participating banks and Mobile Money Operators (MMOs) from both Bo and Kenema, showcasing the wide array of institutions supporting the SAPS system. As part of the National Switch initiative, SAPS aims to make instant payments accessible to all, enabling users to transfer funds quickly and efficiently between different banks and payment platforms.
Among the distinguished attendees were the Governor of the Bank of Sierra Leone, Dr Ibrahim Stevens, and several members of the Bank’s board. Their presence highlighted the importance of the SAPS Instant Payment phase, which is set to revolutionize the financial landscape of Sierra Leone by simplifying financial transactions and improving access to digital payment solutions across the country.
Benefits of Instant Payments
The instant payment system, central to the National Switch initiative, will allow Sierra Leoneans to transfer money seamlessly between various platforms—whether between banks or Mobile Money Operators. This will foster greater financial inclusion and give the public greater control and flexibility over their money, contributing to the nation’s economic development.
The float parade served as an entertaining spectacle and a platform to engage the public, educate them about the benefits of instant payments, and promote the wider adoption of the SAPS system. As Sierra Leone continues to embrace digital payment solutions, the Bank of Sierra Leone’s efforts in raising awareness are an important step towards building a more inclusive and modern financial system.
The SAPS Instant Payment system is a crucial element of Sierra Leone’s efforts to modernize its financial infrastructure, and events like the float parade are helping to accelerate its adoption nationwide.