A memorandum of understanding aimed at promoting the creation of business incubators based on the digitization of payment services was signed on Monday in Luanda between the Ministry of Higher Education, Science, Technology and Innovation and the National Bank of Angola (BNA), which is intended to contribute to the emergence of innovative companies in the country.

Under this memorandum, the central bank will support and encourage the training of entrepreneurs, researchers, companies and other entities in the development process, based on high-potential technological business ideas, according to the Angop news agency.

The memorandum stipulates that the assessment and selection of applications will be based on criteria set by an evaluation committee made up of representatives of the two institutions.

BNA director Pedro Castro e Silva said that the central bank has been following the development of technology worldwide, especially in the financial system, noting that, “our aim is to continue to contribute to the development of Angola’s payment systems, drawing on young people at universities who already have business ideas that can also enhance Angola’s payment system.”

Castro e Silva explained that the central bank will not provide financial resources directly, but will contribute to the incubators being properly equipped to support the development of ideas.

Minister Maria Sambo said that this initiative will be implemented in the current pilot phase at the Faculty of Engineering of Agostinho Neto University, and it is also expected to be extended to other higher education institutions. (Macauhub)