The document now signed aims to facilitate trade between Angola and Namibia, as well as combat money laundering. Furthermore, according to Angop, the referred memorandum also updates another one that already existed on subjects related to the activity of both central banks.
The document was signed, on the Angolan side, by José de Lima Massano, governor of the National Bank of Angola (BNA), and, on the Namibian side, by Johanes Gawaxab, governor of the Bank of Namibia.
At the time, Lima Massano said that they understood "to take a bigger step", not wanting "just the cash", that is, the exchange of the kwanza for the Namibian dollar, but also having "more modern payment instruments".
"What we want is to take a bigger step, not just cash, the exchange of the kwanza for the Namibian dollar, but having more modern payment instruments, including debit cards from the multicaixa network and also allowing commercial transactions as resources letters of credit can happen in the currency of both countries", said the governor of the BNA, quoted by Angop.
Lima Massano also said that the path being carried out is "a technically more demanding path" because they want "the payment infrastructures to work and dialogue, allowing transactions to take place quickly, safely".
"The decision we took was to have the kwanza as the currency of the payment system in our region. We will start with Namibia, but our intention is to have the kwanza as a payment currency in our region", he added, quoted by Angop.
Regarding the intention of creating a single currency for the Southern African Development Community (SADC) region, the governor considered that it was a process that would take time, "but in the meantime, the region has a payment system which, at the moment, has a currency - rand, and the intention is to have other currencies from the countries that make up the region and the kwanza wants to be one of those currencies. The process has already started, as soon as we have it", writes Angop.
Also speaking on the occasion, Johanes Gawaxab, Governor of the Bank of Namibia, said that the memorandum focuses on facilitating trade and illicit capital flows. "We have the issue of illicit capital flows, working groups are being set up to adjust matters in relation to facilitation and illicit capital flows", added the official, quoted by Angop.
