Angola will have its first digital bank in 2020

23 January 2020

The first digital bank operating in Angola, called DUBank Angola, is scheduled to open in the first quarter of this year, after an initial investment of US$12 million, its chief executive said on Wednesday in Luanda.

Sergio Hirose also said the Angop news agency that all legal requirements demanded by the National Bank of Angola, including capital, structure, balance, transparency, among others, for the opening of a conventional bank, had already been completed, and now the bank is waiting for a green light from the banking sector regulator in the country.

The banker said the investment has been underway since April 2019, with the installation of the platform and of computer systems and added that because this is a digital bank it can reach every place in Angola with Internet access, and transactions can be carried out even through the 2G network.

Hirose also said the bank’s website had already had over 5,000 requests for pre-registration to open accounts.

Although most banking transactions will be processed through mobile phones, customers will have a debit card for operations such as taking out cash from the ATM system, which is run by Empresa Interbancária de Serviços (EMIS). (macauhub)