Africa Angola Currency Economy Finance Financial Inclusion Mobile

Angola: e-Kwanza currency yields over US$6M

Banco Angolano de Investimentos (BAI) yielded Akz 4.13 billion (US$6,28M) via electronic money e-Kwanza in 2020, as part of operations carried out by 112,380 registered customers, according to the institution’s press release that reached Angop.

It said that the rise in operations owed to the increase in users in the last half of 2020, which attract more merchants who subscribe to the contract for accepting payments made via e-Kwanza.

In a document released by Brand’s Communication and Management Office, it predicts the acceptance, payments and withdrawals network exceeding 15,000 merchants by the end of 2021.

Also read: Angola: Foreign currency credit converted into Kwanzas

Of this number, six thousand already in the first half, across the country, making it the ideal solution for payments and transfers without physical contacts.

The financial institution put at 2,200 the number of employees it has in the country’s 18 provinces, who received the Christmas and New Year’s eve incentive in their e-Kwanza account and carried out their financial transactions with the support of this service.

BAI announces, on the other hand, that it started on Monday a national campaign to attract customers, and announced plans to create 54,000 new private accounts.

This value demonstrates that the e-Kwanza service, in addition to benefiting non-bank people, especially in the informal market, also supports the movement of large amounts of money and serves people and bank companies that want to operate safely and quickly.

Source: Angop

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