As part of the modernization of cash management, the National Bank of Angola stated earlier this year that it would invest 32.7 billion kwanzas (US$57.3 million) to create a New BNA cash Centre in Angola in the Luanda Bengo Special Economic Zone (ZEE).
Following the announcement of a public procurement with a restricted call for tenders via the previous qualifying in February of this year, the contract was awarded to construction company Omatapalo.
Since August, the Luanda-Bengo Special Economic Zone has been home to the new cash center to store and handle over 800 million banknotes.
According to Sebastio Banganga, National Bank of Angola’s director of Currency Circulation, the work on the New BNA cash Center in Angola is progressing well and is being carried out by the Omatapalo construction business.
Future Plans New BNA cash Center in Angola
Sebastião Banganga told ANGOP on the sidelines of a symposium on “The Management of the Circulating Currency” that the BNA is also working on regional infrastructure restoration in the provinces of Lunda Norte, Hula, Benguela, and Uige.
He further stated that in places where the BNA is not physically present, custody houses are being established in collaboration with private banks.
According to the source, with these expenditures, regional delegates will be able to scan 33 bills per second, pack 10,000 dollars in one minute, and pick those that are in bad condition.
According to the source, the BNA’s obstacles include opening new value chains and establishing an intermediate company between the BNA and commercial banks known as “ETV’s.”
He stated that they now choose seven commercial institutions and four custodians to oversee the currency in addition to the regional delegates.
On the other hand, he reminded that the banknotes of the 2012 series would lose their validity from January 1st to July 31st, 2022, and will no longer be accepted as a payment instrument.
According to the official, the BNA is working on a calendar to remove these banknotes from circulation from the 2012 series as a result of Notice/2020 issued on July 10th.