The National Bank of Angola (BNA) has initiated the process of implementing an interoperable instantaneous money transfer (STMI) system in the country. The financial institution began its project by first looking for the company that will help it operationalize.
The company, which should be known in September 2020, according to the schedule set by the BNA, must have a reputation and recognized experience in the management and operation of compensation and switching systems for mobile and instant transfers. .
The interoperable mobile payment system that the selected company will implement, the BNA wants it to be flexible and open in order to guarantee access and emergence of various participants, in particular banks, mobile operators, financial institutions non-banking, the fintechs, which offer innovative and differentiated services and which meet the needs of end consumers. This technical infrastructure, which must be accessible to the entire population, must promote competition, efficiency and security on the financial market and reduce the cost of services and products. In summary, contribute to financial inclusion.
In December 2019, at the 9th edition of the “Forum on the challenges of governance in the digital era in Africa” in Luanda, the Angolan Minister of Finance, Vera Daves, deplored the low rate of financial inclusion in Angola , compared to the average for other Southern African Development Community (SADC) countries. She pointed out that traditional technological banking solutions (check, payment card, transfer, and ATM withdrawal) do not promote financial inclusion at the levels hoped for in a country where the rate of banking services is below 30% . It also called on the government to review the regulatory framework for the development of mobile solutions.