Luanda - The Ministry of Social Action, Family and Women Promotion (Masfamu) and the National Bank of Angola (BNA) initialled a protocol on Friday in Luanda to boost exchanges between the two institutions.
The protocol aims to promote literacy, education and financial inclusion of vulnerable families and women in particular, with the aim of including most of the population of the informal sector in the Angolan financial system.
After signing the agreement by the Minister for Social Action, Family and Women's Promotion, Faustina Alves, and the governor of BNA, José Massano, the next step will be to register vulnerable families with entrepreneurial initiatives, as part of Masfamu's projects.
Speaking to the press at the end of the ceremony, Teresa Pascoal, director of the BNA's Financial Inclusion Department, said that the partnership's intention was to include the population that was still outside the financial system, in order to integrate monetary transactions from the informal economy into the banking sector.
"It is important that currency transactions between economic agents in the informal sector are carried out within the financial system, with a view to improving the management and control of currency circulation in the market," she said.
According to Teresa Pascoal, the financial system needs to offer products and services that meet the needs of the general population.
Also as part of the programme for financial inclusion of the population, the director noted that since 2011 the Angolan banking sector had controlled over a million bank accounts.
