Visa system launched in Angola within two months

14 February 2007

Menongue, Angola, 14 Feb – Visa credit cards will become valid in Angola within the next two months, the chairman of Banco Internacional de Crédito (BIC) said Tuesday IN Menongue, Angola on the sidelines of the opening of the bank’s first branch in Cuando-Cubango province.

Fernando Teles, head of Angopla’s fourth largest bank said that five Angolan banks had been authorised to use the world’s main credit card system, and that BIC was currently training its staff to do so.

As well as BIC, the Baco de Poupança e Crédito groups (BPC), Banco Africano de Investimento (BAI) and two Portuguese-owned banks, Banco Fometo de Angola, owned by BPI group, and Banco Espírito Santo Angola (BESA), of the Espírito Santo group, were approved by the Angolan banking authority to use the Visa system in the country.

Visa in Angola will be managed by Egyptian company MSCC, while withdrawals at ATM machines, known as Multicaixa, using Visa Electron debit cards, is being run by Portugal’s SIBS, which manages the Portuguese ATM system.

BIC opened a branch in Menongue, the capital fo Cuando-Cubango province in Soutehrn Angola, which is its 53rd branch and by the end of 2007 expects to have between 90 and 100 branches.

The bank plans to have a presence in all 18 of Angola’s provinces, as branches in Soyo (Zaire province), Luena (Moxico) and Ondjiva (Cunene) are already being built. (macauhub)