The national currency, the kwanza, will be accepted as a payment currency within SADC starting this month, according to information provided by BNA Governor Manuel Tiago Dias during the signing of a memorandum of cooperation with the Central Bank of the DRC.
“This month, the kwanza will be accepted as a SADC payment currency within the wholesale settlement and clearing system, and we believe that the DRC has done everything necessary to ensure this happens,” he said.
Trade between Angola and the DRC will now be further facilitated. To this end, the central banks of the two countries signed a memorandum of understanding this Wednesday here in Luanda that will facilitate trade between Angola and the DRC.
On that occasion, the Governor of the BNA said that the agreement establishes a comprehensive framework for institutional cooperation, based on the exchange of information and experiences, technical assistance, and the integration and interoperability of payment systems.
According to Manuel Tiago Dias, facilitating cross-border payments could help reduce transaction costs and processing times, promote greater formalization of financial flows, facilitate trade, and strengthen economic integration between the two countries.
For his part, André Nkualoloki, Governor of the Central Bank of the DRC, said that the cooperation agreement that was signed underscores the importance of trade between the two countries.
Source: Falabwe
