Angola's Central Bank launches new programme to improve access to banking

May 08, 2012

Angola's Central Bank governor Abraão Gourgel has told Les Afriques newspaper that nine out of ten Angolans do not have access to banking services.

Angola's Central Bank (BNA) governor Abraão Gourgel has told Les Afriques newspaper that nine out of ten Angolans do not have access to banking services.

This is why the BNA wants to encourage people to join the banking system through awareness campaigns, workshops, seminars and other promotional activities.

On Wednesday (May 2nd) in Kuito, in the Bié region, it launched an innovative financial programme called Bankita, which offers participants a financial reward.

The programme gives people living in Kuito the possibility to open a bank account with only 100 kwanza (80 euro cents) and allows the owner to earn 60 kwanza for each 100 kwanza placed in the account, 30 days after the deposit was made.

BNA's regional director Jerónimo João Lara told Angop news agency that "opening bank accounts in commercial banks, aside from guaranteeing money security, will also create an empathy between banking branches and clients, thus strengthening the trust in the financial market".

Access to credit, while remaining low, has widened 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 website. In 2009, banking credits increased by 79 percent, driven by commercial loans and mortgages.

Figures released by the Empresa Interbancaria de Servicos showed the value of transactions has now reached around 10 million kwanza every month, Angop reports.ADNFCR-2976-ID-801357792-ADNFCR