Angola to gain first digital bank this year

Luanda The first Angolan digital bank, called DUbank Angola, with an initial investment estimated at USD 12 million, might be inaugurated in the first quarter of this year, revealed last Thursday its Executive Director, Sergio Hirose.

Speaking to ANGOP, Sergio Hirose stated that the legal requirements, demanded by the National Bank of Angola (BNA) � such as the share capital, structure, balance sheet, transparency, among others for opening a conventional bank, have already been fulfilled, waiting only the final approval of the regulatory body for banking activity in the country.

The businessman explained that the investment started to be made in April 2019, with the installation of platform and technological systems, lacking only the licence from the BNA (Central Bank).

DUbank Angola, explained the manager, will have a customer support service and, the fact that it is digital, this service can reach everywhere in Angola where there is internet, and from 2G onwards, bank transactions can be made.

Installed since last December, the DUbank Angola website has already registered more than five thousand pre-registration requests for opening an account.

The initiative will create 100 direct jobs, out of the more than 300 candidates already registered, and the bet will be on training national technicians.

Although Angola does not yet have regulations governing the activity of digital banking, he said, DUkank Angola will guarantee security and transparency, as the Central Bank is responsible for carrying out its audit.

He explained that the digital bank will work through a Smartphone, with an account, it will have a withdrawal multi-card, whose transfer management will be under the responsibility of the Interbank Service Company (EMIS).

Asked by ANGOP about the fact that the digital bank does not have deposit facilities as this process would be done, the manager explained that they will be made through any banking network.

He went on to say that if someone’s salary is domiciled in your DUkank Angola account, the individual can do any banking transaction without operating costs, clarifying that the cost of DUbank Angola is invested in technology.

Among the various services, the digital bank will have the salary segment, payment slip, tax payment, insurance, transfers, among others provided by conventional banks.

He stated that transparency is an important factor for security and DUbank Angola will bet on this, through collaboration with BNA and EMIS.

When referring to Angola’s potential, the investor explained that it is a rich country but very much lacking in services and considered it the best country to invest in various sectors.

Source: Angola Press News Agency