Luanda:Angola has significant potential for advancing its digital payment infrastructure, supported by favorable demographics and human capital, according to a senior executive from Finastra, a British financial software firm.
According to Angola Press News Agency, Rudy Kawmi, Finastra's vice president for the Middle East, Africa, and Asia-Pacific, emphasized this potential during the Angola Reimagine Banking Forum held in Luanda. Kawmi highlighted that the developments in the banking sector align with the broader growth of Angola's non-oil economy, which saw a 9.24% increase in the second quarter.
The forum was organized by Finastra in collaboration with Innovation Makers and Teciem. It served as a platform for banking executives and fintech specialists to discuss modernization challenges such as cloud computing, data sovereignty, generative artificial intelligence, and regulatory issues.
Kawmi also mentioned that Finastra is working on developing localized financial solutions tailored to the needs of Angolan consumers. This strategy aims to capture new market segments, following a record-breaking year for Angolan banks in 2025, where net profits exceeded one trillion kwanzas and credit expansion rose by 23.3% above the five-year average.
