Governor of Angolan central bank calls on government to invest in infrastructure

22 May 2007

Luanda, Angola, 22 May – The governor of the Angolan central bank Monday called on his country’s authorities to invest more in infrastructure in order to improve the payment system, on speaking at the launch of the Visa credit card by Banco Fomento de Angola (BFA).

Appealing to the “the sensibility of the authorities so that there will be public investment in infrastructure,” Amadeu Maurício noted that in Angola today it was necessary to invest a lot “in order to get small results,” and these could not be “much better or will be too expensive if the State does not do what is expected.”

According to the governor, a State or government is required to invest in infrastructure “that provides support,’ to initiatives such as that of BFA.

The bank, which is 100-percent owned by Portugal’s Banco Portuguese de Investimento (BPI), is the first to provide universal access to the Visa network in Angola to those people who do not have a bank account in the country.

During the ceremony, the chairman of BFA, Emídio Pinheiro, said that from now on all Visa card holders, whether Angolan or foreign, resident or visitors, could take out cash advances of up to US$200 daily.

As well as this, BFA also makes it possible to pay with a Visa card at over 100 outlets where the bank has already installed payment terminals. (macauhub)