Africa-Press – Angola. The administrator of the National Bank of Angola (BNA), Pedro Castro e Silva, advised promoters of alternative payment solutions to traditional banking to consolidate the expansion of this type of service to the unbanked population.
Pedro Castro e Silva, who was appointed deputy governor of the BNA, expressed this position, taking into account that the banked population already uses the instruments provided by local banks that are mobile, such as the Multicaixa card and mobile banking solutions .
As an example of alternative services, he cited startups – transport apps, or even “mobile money” (mobile payment), in the context of financial inclusion and digitization.
He referred that, in addition to alternative payment solutions launched by traditional banks, there are also 16 companies providing payment services – a good part of them offering mobile wallet services, including two telecommunications companies – which increases financial inclusion.
He considered the fundamental solutions so that it can, in fact, fulfill its role and increase financial inclusion in Angola, being the business model and interoperability.
He stressed that companies that use this type of solution, being more agile, quickly attract customers, and one of them, based on the number of customers, is already larger than most commercial banks licensed by the BNA.
He suggested that person-to-person transfers should be prioritized, similarly to what happened in other markets, since a large part of national economic operations is informal and the agents operating there are individuals.
On the other hand, he added that the development of the quick platform, an instant transfer service system, which will guarantee interoperability between the various Mobile Money solutions, is underway.
Regarding interoperability, he said that it proved to be critical for the mobile money service in other African countries and, therefore, efforts will be made to speed up the process of joining this platform for participants.
The manager also stressed that financial inclusion should be for the population and increase equal opportunities to access physical money, as well as savings, deposit, transfers, credit and other services.
He stressed, on the other hand, that the defense of competition is an urgent and transversal need in all areas of the economy, and in the banking and financial system it facilitates the inclusion of economic actors in society, increasing growth .
Administrator Pedro Castro e Silva made these statements during the 3rd Annual Conference on Competition and Economic Regulation, which took place under the motto “The defense of competition as a factor of economic growth”.
The conference was held by the Regulated Competition Authority (ARC).
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