National Bank of Angola resumes financial education programme

8 October 2013

The National Bank of Angola (BNA) will resume this November its financial education programme. The aim is to achieve a 30-percent banking service penetration rate among the local population in 2013, the central bank’s southern regional office indicated.

Regional delegate Luís Henrique da Silva explained in a statement that BNA has noted problems hindering access to banking services, due to a lack of knowledge about the use and functions of the banking system.

The situation is exacerbated by the lack of personal identity documents, low income versus the amounts needed to open and maintain accounts, and the limited network in the country’s interior, indicates the statement cited by Angola’s Angop news agency.

This being the case, it adds that BNA “understands that financial education is a vital factor for deepening and stabilising the financial system, whereby it places ever more importance on initiatives to promote levels of financial information, striving to determine and carry out national strategies meant to involve the population in the system.”

The central bank document states that this will stimulate saving, besides freeing and enabling funds to be used for investment, on the pathway to the long-sought formalisation of the economy. Hence the need for the awareness campaign that will run from this 5 November to 31 January 2014, with a view to achieving satisfactory results.

The formal activities planned for Benguela and Cuanza Sul provinces dependent on that regional office include 32 conferences in various locations, covering subjects included in the financial education programme. (macauhub)