In a statement published on its website, the BNA explains that this initiative aims to foster the "financial inclusion policy," with the aim of "expanding and improving access of the population to financial products and services, especially for low-income people and micro entrepreneurs.
The agreement establishes that the BNA will be responsible for "subsidizing the acquisition of 2,500 TPA, with an overall charge of three hundred million kwanzas, for micro companies or individual entrepreneurs holding simplified bank accounts for commercial purposes.
In April last year, the central bank decided to establish a simplified accounts regime. Intended for individuals, these accounts aim to help people who do not have all the necessary conditions to open an account according to the regulations in force, Angop reports.
This new measure allows people to open an account, both personal and commercial, by presenting any kind of identification document without being obligatory the identity card or the registration with the General Tax Administration.
According to the Fiscal Identification Number Legal Regime, micro-entrepreneurs can use a TPA if they operate in the informal market through a fixed point of sale. In order to have access to the TPA, micro entrepreneurs must have an identity card and be holders of an authorization from the local administration body to carry out their activity in the referred point of sale, writes Angop.
The use of a POS has advantages for both buyers and sellers: security becomes greater for both parties, since the risks associated with the use of cash (theft, losses, fraud schemes, among others) decrease.
"The commercial banks that have joined the Program, namely Banco Sol, Banco Valor, Banco Prestígio, Banco Caixa Geral Angola, Banco Comercial Angolano, Banco Yetu, Finibanco, Banco Keve and Standard Bank Angola, have committed to create all the internal control procedures, train their human resources and set up the technical support infrastructure, with a view to ensuring the operationalization of the Massification of TPAs Program, providing the product in appropriate conditions of quality and efficiency, adjusted to the market segment that is intended to be reached," the note can be read.
The BNA also recalls that this initiative is part of the "effective materialization of the financial inclusion strategy adopted by the Angolan authorities under the National Development Plan 2018-2022."
