The electronic money transfer market in Angola continues to show impressive dynamism.
According to the EMIS report for October, consulted by Cafeína Magazine, the 20 companies operating KWiK transfer services reached a total volume of AOA 66.32 billion (approximately USD 72.73 million) in accepted instant money transactions.
This amount, the source notes, represents a significant increase of 553.4% compared to the same period last year, when transactions totaled only AOA 10.15 billion (around USD 11.13 million).
At the top of the list of operators, the mobile app PayPay took the lead, followed by two major banks — Banco Angolano de Investimentos (BAI) and Banco Internacional de Crédito (BIC) — which ranked second and third respectively in October.
The strong growth highlights the acceleration of digitalization and the preference for electronic payment channels in Angola, as well as the increasingly relevant role of fintechs and mobile platforms in the national financial ecosystem. According to the report, the challenge for operators now lies in maintaining high levels of security, reliability and liquidity, as transaction volumes grow exponentially and digital solutions become consumers’ preferred choice.
Source: Líder Magazine
