Luanda - The governor of the National Bank of Angola (BNA) Manuel Tiago Dias on Monday in Luanda advocated the need to intensify financial education in the country as a national priority.
Speaking at a Financial Inclusion and Literacy Conference, the BNA highlighted the need to increase literacy levels among the population, citing data that needs to be improved, having cited a survey on the subject, published in 2023, which revealed that only 24.7 per cent of the Angolan population had adequate levels of financial literacy.
Manuel Dias said data of the third quarter of 2024 show that the financial inclusion rate is of 49.44 percent, while people with bank accounts at the level of 31.53 percent and that and enquire revealed that only 37 per cent of respondents over the age of 15 prepare a family budget, while 76 percent face financial difficulties.
According to the BNA governor, the mission to educate the population financially has been strengthened by the contributions of strategic partners from various ministerial departments, other financial system supervisory bodies and civil society, however it must be increased.
‘Our objective and focus are clear: to increase levels of financial literacy and inclusion by promoting knowledge, access and the effective use of financial products and services provided in a sustainable way that meet the needs of individuals and micro, small and medium-sized enterprises,’ he said.
The US ambassador to Angola, James Story, on his turn spoke about the BNA's project entitled ‘Digital Money is Better’, which aims to increase financial inclusion and make it easier to do business in the country, which as he said, expects will be implemented not only by telephone companies, but in other areas for greater expansion and economic growth.
The diplomat said he is pleased with the progress of the project, which many citizens are joining through AfriMoney and UnitelMoney.
‘Digital Money is Better’ project is an initiative of the Embassy of the United States of America in partnership with the mobile operator Africell.
The conference addressed, among other things, the topic of ‘the state of financial inclusion and the adoption of mobile money in Angola’. LDN/VC/DAN/AMP
