Ver Angola


Africell launches digital money service and expects 500,000 customers in the first year

Telecommunications operator Africell launches this Friday in Angola the digital money service Afrimoney, hoping to reach 500,000 customers and execute at least one million transactions per month this year.


According to the director of Afrimoney, Kátia da Conceição, for this it will be decisive to create access channels for customers, so three thousand agents will be distributed across Luanda and Benguela who will help explain the functionalities of the service, aimed essentially at people without a bank account. .

The initial 1,070 agents, which should reach 3,000 in the first month of operation, will act in strategic points such as the markets, where transactions are still carried out essentially in cash, the person in charge told Lusa.

In Angola, where the informal economy predominates, around 50 percent of the population does not have access to a bank account and will be able, with this service, to withdraw money, make deposits and transfers, payments or top-ups using this service.

Digital money ('mobile money') in Africa is a fast-growing sector, with more than 150 services processing transactions worth USD 800 billion in 2023.

Kátia da Conceição stresses that Africell, a North American company financed by the US Government that operates in the Democratic Republic of Congo, Sierra Leone, Gabon and entered Angola a year ago, invested around US$10 million in Afrimoney, mainly in shares of education and financial literacy.

In Angola, Africell currently operates in the provinces of Luanda and Benguela and wants to expand services to Huambo, Cabinda, Huíla and Zaire this year, with already seven million users.


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