Data from the regulator (BNA) on the payment system indicates that instant transfers are coming to life and that the Credit Transfer System recorded more than 22 million operations in 2023
The Multicaixa system registered 973.3 million payment processes by the end of November 2023, as shown by data relating to the payment systems of the National Bank of Angola (BNA). The data shows that, in terms of payments, the Multicaixa network recorded more than 18.4 billion kwanzas, a little more than 2 billion more than the 16.2 billion recorded in 2022.
In terms of participants in the Multicaixa system, that is, institutions that provide the machines, which in practice are banks, the data shows that since 2022 there have been 20 participants. But there were already 25, in 2018, which was the best year in this regard.
If we look at the real-time payment system, we realize that, in the year 2023, more than 338 million processes or payments if you prefer, were carried out, with 91.7 million kwanzas being moved. A high number of processes and even the amounts involved was only possible because there were more and more participants, or operators, reaching 30, as shown by the data to which OPAÍS had access.
But even so, in terms of value handled and number of processes, the year 2023 is very far from the year 2014, in which 349,790 processes were carried out and 116.3 million kwanzas moved through this route. The data also shows that the Credit Transfer System also gave a little air of grace, registering more than 22.7 million operations in the year 2023, allowing the movement of more than 12 billion kwanzas. This value, like almost all referring to the year 2023, apart from the few exceptions mentioned, is the highest since 2012. A good sign that the Angolan financial and payments system is still moving towards the balance point.
Instant transfers come to life
Despite having only been launched in 2023 by the regulator Banco Nacional de Angola, instant transfers reached 10,016, therefore, in its first year of effectiveness in the country, having allowed the movement of 441 million kwanzas, as shown by the data that the OPAÍS had access. A volume that is still low compared to other payment systems, however notable, given that the performance in this first year suggests that membership is likely to grow. User of the payment system through an application, Eliseu Domingos, explains that he likes it and even points to the system as “number one” in his preferences. Anyone who doesn’t like instant transfers, for example, may not know they exist.
BY: Laudislau Francisco
