Africa-Press – Angola. The National Bank of Angola (BNA) requested Friday, at Cuando Cubango, a more proactive participation of traditional authorities, in relation to the circulation of metallic currency, to ensure balanced prices in the market.
The challenge launched to traditional authorities arises due to the widespread rejection of metallic coins in many formal and informal commercial establishments in the province of Cuando Cubango, a fact that has contributed negatively to the rise in prices of some products, causing deterioration of the currency and loss of power. purchase from citizens.
To reverse the situation, the BNA held, in Menongue, capital of the province of Cuando Cubango, a meeting that brought together more than 100 traditional authorities, with the aim of reaffirming the validity of metallic coins, their advantages and encouraging their greater acceptance in formal and informal markets.
At the opening of the event, the regional director of the BNA, Miguel Sumbo, said that the meeting with traditional authorities is aimed at the need for them to provide information about the validity and importance of the currency in communities, as its circulation will never leave the commercial circuit..
He reported that a considerable section of the population and economic agents are indifferent to reality and, in many cases, hostile to the use of currencies in commercial transactions, causing people to reject currencies.
Therefore, he appealed to the wisdom and power of traditional authorities to work with communities, in order to disseminate information that all coins are in circulation and remain valid, from one cent to two hundred Kwanzas.
“Do not accept sweets or tablets as change. Demand change. Convey to our people that rejecting currency is a crime against the economy and is punishable by law,” he urged.
When presenting the lecture on the use of metallic coins, the BNA technician, Arlindo Muanza, highlighted that they are difficult to counterfeit, but that they make change easier, enable traders to charge fairer prices, and have greater durability compared to compared to paper notes, they do not require constant renewal and are ideal for purchasing products at lower prices.
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