Angola: BNA wants access to banking services to reach 30 percent by the end of 2013

Oct 09, 2013

The National Reserve Bank (BNA) has pledged to work towards increasing access to banking services in Angola.

The National Reserve Bank (BNA) has pledged to work towards increasing access to banking services in Angola.

It identified several problems preventing the spread of financial services in the country, such as a lack of personal identification documents, low incomes, and a limited inland bank network, according to a press release from the central bank published by Angop news agency.

The institution wants to contribute to achieving a 30 percent banking rate by the end of 2013 in Angola, up from 23 percent in 2012.

In order to reach this goal, the BNA intends to resume in November its financial education programme, stating that "education is a key factor in deepening and stabilizing the financial system".

The BNA launched an innovative financial programme in 2012 called Bankita, which offers participants the possibility to open a bank account with only K100 (€0.80) and earn K60 for each K100 placed on the account, 30 days after the deposit was made.

Access to credit, while remaining low, has improved over the past few years in Angola. The percentage of the population owning credit cards increased from two percent in 2005 to 11 percent in 2010, according to African Economic Outlook.ADNFCR-2976-ID-801647290-ADNFCR