BNA Set to Launch ‘Mobile Money’

By MWorld Team Apr 29, 20200

The National Reserve Bank of Angola (BNA) has announced to the public of it motive to implement the “Mobile Money”, an instant Money Transfer System (IMTS), with which it intends to broaden financial inclusion in the country.

The information has been made public by the BNA, highlighting also that the system – which has been used with encouraging results in several emerging economies and, above all, in Africa – should be available throughout the national territory, without giving dates.

As regards the statement by BNA opened recently, it stated the “Request for Information (RFI)”, in order to receive proposals that will culminate in the choice of the IMTS technological operator.

According to the document to which ANGOP has had access, the technological operator will be responsible for the management and operation of the clearinghouse and the interoperability platform (Switch). After that process, the selected company must provide a centralized clearing and Switch system platform. The idea of this infrastructure is to ensure interoperability for mobile and instant transfers between IMTS participants, called “Integrating Entity”, which will function as a technological operator.

In addition, the BNA warns that interested companies must respond to the “Request for Information” by 10 June 2020. Increasing financial inclusion is one of the priority actions of the BNA Strategic Plan, called N’zimbu.