FINANCIAL INCLUSION GENERATES DEBATE IN ANGOLA

08.11.2016

The banking institution took advantage of the fact that World Savings Day has recently taken place to advance discussions across the country.

In Luanda, BNA addressed social inclusion policies and strategies, allied to financial inclusion under discussion at the fourth International Forum on Financial Inclusion.

"The current context of financial inclusion in Angola is not favorable, in terms of access to what is intended and can not be done only by banking agencies, as the only instruments for opening accounts," said Avelino dos Santos, director for Education of Financial Inclusion of the BNA.~

In fact, the critical points are in the level of banking, which still does not satisfy BNA, which demands that every Angolan has a bank account.

"We can only achieve the goals set by the central bank, within the National Development Program (PND 2013-17), making the maximum of the Angolan working population be within the formal financial system," said Avelino dos Santos. Currently, the rate of banking is above 52 percent of the adult population.

The reason for the weak bank attraction, according to analysts, lies in the interconnection with the current banking structure, which is considered to be still traditional. Angola has only 1,500 bank branches, for an estimated 7.8 million people.

Most banking branches are concentrated in provincial and municipal offices, with priority for Luanda, where 800 branches are accounted for. "For access to the financial services available, it is now important for people to have an account called Banquinho, which becomes a gateway to bank banking and, later, to financial inclusion," said Avelino dos Santos.