The number of Chinese nationals living in Angola fell from 353,000 to 73,000 in July, according to figures from the Angola-China Chamber of Commerce (CCAC) cited by Angolan newspaper Valor Económico.
The newspaper reported that the reason for a drop of this size is the economic/financial crisis in Angola as well as acts of violence committed against Chinese nationals.
This drop means that the Chinese international payment card UnionPay, launched five months ago in the Angolan market, has not met the expectations of the Empresa Interbancária de Serviços (Emis).
Duano Silva, an adviser to the Emis board of directors, told the newspaper that the results were far below expectations, with the card registering a monthly average of only 30 transactions.
“The financial crisis is one of the reasons for the small number of transactions, since fewer Chinese citizens are using UnionPay cards,” he said.
The Chinese international payment card was launched in Angola with Chinese citizens in mind, who may remain short time in the country and therefore do not have a card issued by local banks.
The UnionPay card arrived in Angola through an agreement between Emis and Union Pay International (UPI), and can be used at all ATM machines registered with the Angolan company, currently about 3,000. (macauhub)