Mbanza-kongo: About 75% of the Angolan population avoids saving their income, while others save outside the banking system.
According to Angola Press News Agency, the Angola Central Bank (BNA) highlighted this trend during a recent lecture on the "Socioeconomic Relevance of Savings" held in Mbanza-Kongo, in Zaire province. Carlos Pedro, a technician from the BNA's Monitoring, Supervision and Statistics department, shared that studies indicate only 25% of Angolans save money, and most do so outside formal financial institutions.
Pedro emphasized the risks associated with keeping money outside banks, including potential misappropriation or loss. The event also saw Mbanza-Kongo's municipal administrator, Zolana Avelino, advocating the introduction of financial education at the primary school level. Avelino believes early financial education can lead to a more organized and financially savvy adulthood.
Local authorities are committed to fostering partnerships that enhance knowledge and provide development opportunities in the municipality. Avelino highlighted the role of financial education in combating poverty, supporting small businesses, promoting financial independence, and maintaining social stability.
Sebastio Nteyekenge, director of the Municipal Office for the Promotion of Integrated Economic Development, announced ongoing efforts to engage with vendors in informal markets. The aim is to promote awareness about the benefits of opening bank accounts, with support from commercial banks to provide Automatic Payment Terminals (APT) for merchants.
The lecture was part of broader financial education and inclusion initiatives by the BNA in the Northwest Region, targeting various community groups, including vendors, teachers, students, civil servants, and security personnel. Plans are in place to extend these educational efforts to primary schools, military, and police units to reach more segments of society.
