Millenium Angola bank welcomes deconcentration fo payment of public worker salaries

17 August 2010

Luanda, Angola, 17 Aug – The Angolan government’s decision to allow public workers’ salaries to be paid via any retail bank has been welcomed by Banco Millenium Angola according to Angolan news agency Angop.

Speaking to the agency, chairman antónio Magalhães said that the decision would improve the services of Banco de Poupança e Crédito, the only bank that is currently allowed to process public workers’ salaries.

Magalhães added that it was a measure adopted by most developed or developing countries with a market economy, because it helped to reduce work at public banks and required private banks to better organise themselves, in order to promote fair competition.

The chairman said that, as a result of that measure, Banco Millennium Angola would expand its banking network and recruit and train technicians.

“For that reason, we plan to open ten new branches by the end of the year in four of the country’s provinces, to increase the number of branches to 40 and provide direct jobs to at least 50 people in order to end the year with 700 staff,” said the bank’s chief executive.

The measure to decentralise salaries was announced in July by the members of the commission for economics and finance of the National Assembly and should go into force in October in order to relieve the burden on Banco de Poupança e Crédito, the bank that currently processes public workers’ salaries. (macauhub)