Pan-African mobile network operator Africell has launched its mobile money service “Afrimoney” in Angola, in partnership with the National Bank of Angola (BNA).
The platform will offer mobile recharge, deposits, person-to-person transfers, bill payments, and merchant payments, and it plans to include financial services such as credit, savings, and insurance.
Towards digitalisation: Africel believes that the new platform will digitise the country’s informal economy and “unlock” the unbanked population, thus contributing to the country’s economic growth.
Additionally, the platform aims to provide essential financial tools to many of approximately 50% of Angolans who don’t have bank accounts, enabling people to transact digitally with others on the network.
According to recent data by GSMA, 144 mobile money providers operate in sub-Saharan Africa, accounting for 70% of the $1 trillion global mobile money market.
