Pedro Castro e Silva mentioned, in his speech at the end of the presentation of the 2022 Banking in Analysis Study, by Deloitte Angola, that the payment system is headquartered at the South African central bank.
According to the official, it is "almost the democratization of the banking system", - 'Open Banking' and 'Open Finance' -, a new system that Angola will start in the coming months.
"It's already approved and we also have a team in the final phase of work with the SARB, the central bank of South Africa, and the Bank of Namibia, to integrate the Angola, South Africa and Namibia payment systems, and allow our instant transfer systems are interconnected", he said.
"We will also put the kwanza on the SADC [Southern African Development Community] real-time payments system, which is based at the central bank of South Africa. We are going to put the kwanza there, in the perspective of being another way of saving costs, not going through correspondents in dollars and also contributing to increase trade here at SADC level", he added.
In terms of customer-focused innovation, Pedro Castro e Silva said that it is already possible to clear and settle operations seven days a week and towards the end of the third quarter it is expected that a transfer will be made in 24 hours.
