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Thu, 29 Nov 2018 11:01 - Updated Thu, 29 Nov 2018 11:01

Angola launches mobile payments by 2019

Luanda - Angola has announced the launch of mobile payments through mobile phones by 2019 to diversify the payment systems.

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Manager of BNA, Pedro Castro e Silva

Photo: JOAQUINA BENTO

The manger of National Bank of Angola (BNA) Pedro de Castro e Silva announced this Wednesday while speaking on the sidelines of 8th Meting on Payment Systems of Central Banks of the Portuguese Speaking Countries Community ( CPLP), underway in Luanda.

Mobile phone will enable the citizens who have not even a bank account or connection to a financial institution to do shopping or payments and money transfer in the formal and informal markets, he said.

In order to ensure the operation of the process, the National Bank of Angola (BNA) will submit for approval a new legislation on the payment system next year.

The mobile payments will enable new ways of payments.

The BNA started working in March this year with the World Bank on Introduction of the new legislation that allows the mobile payments, said the manager  Pedro de Castro e Silva, who confirmed the institution’s commitment to the issue.

Angola has not launched the mobile payments system long before, as compared to the countries like Mozambique and Kenya, due to its focus on  the implementation of other electronic systems such as Automated Teller Machines (ATMs) and Automatic Payment Terminals (APTs), said   Pedro de Castro e Silva, stressing that Angola is one of the best positioned countries in SADC".
 

"We have always been concerned about financial inclusion, just as it happens in the other countries, we think it is now with the use of mobile phones that we can promote financial inclusion," said the BNA manager

As for the stage in which Angola is in terms of  payment systems, Pedro Castro e Silva explained that BNA is working with EMIS - interbank service company, on electronic systems, , via the ATM.

The CPLP periodically meets to discuss various issues related to the banking system.

The event is intended to share experiences, mainly in relation to payments systems, recent developments and how they can contribute to the financial inclusion.

The meeting is attended by representatives of  Central Banks of Angola, Cabo Verde, Mozambique, Portugal, São Tomé and Príncipe, East  Timor and Monetary Authority of Macau. 

Tags Banca   Economy   Finances  

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