St. Louis Park, United States, 18 Nov – US group MoneyGram International announced it would start operating in Angola before the end of the month in order to increase its share of the African market.

The group, whose main activity is wire transfers, will compete with Western Union, which is already in Angola and has 21 agents.

At a press conference, Pia Marangoni, a marketing director for the group, said that MoneyGram International had been authorised to operate by the Angolan National Bank and will offer its services in three currencies – euros, dollars and kwanzas, the Angolan currency.

Marangoni also said that Angola’s economy was in a string growth period and that transfers were continually increasing, mainly from Portugal and Brazil. (macauhub)