Ver Angola

Banking and Insurance

Multicaixa broke records in 2024: transactions grew almost 40 percent

The multicaixa network reached historic records last year, with 35 billion kwanzas being transacted through the network, corresponding to a growth of almost 40 percent compared to the same period in 2023.

: Revista Outside
Revista Outside  

In a statement, to which VerAngola had access, the Interbank Services Company (EMIS) highlights some of the milestones achieved, such as the registration of more than 12 million transactions in a single day.

"The multicaixa network during the year 2024 reached several milestones by registering more than 12.1 million transactions in a single day and close to 270 million transactions in a single month, surpassing the mark, for the first time, of 2 billion transactions in one year", says the note.

Transactions through the multicaixa network also grew during the past year: "The multicaixa network transacted throughout 2024, the amount of 35 billion kwanzas, corresponding to a growth of 37.3 percent compared to the same period in 2023. In comparative terms, the amount transacted is equivalent to 1.4 times the amount proposed in the 2024 General State Budget (valued at 24.7 trillion kwanzas)", points out.

According to the company, in the period in question, "cash withdrawals (cash-out) corresponded to only 13 percent of the amount transacted, which reveals the continuous growth of the electronic transaction rate of the Angolan payments system".

Furthermore, during the past year, 2.4 billion financial transactions were processed by the multicaixa network, "with emphasis on the MCX Express interbank channel which processed close to 1.2 billion transactions, demonstrating a growth trend of remote channels and digital" in the country.

"Over the past year, the network's latest innovation, mobile payments using QR codes, has surpassed one million transactions, demonstrating the potential of this new way of making payments," the statement said.

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