Angola: ICT’s use in banking to rise financial inclusion, Banks prefer foreign suppliers of IT Angola

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The utilization of Information and Communication Technology in the national banking financial system will help accelerate the process of financial inclusion. This currently accounts for 36% of the population (30 million inhabitants), the deputy governor of the National Bank of Angola, Rui Minguêns opined.

According to the official, who was speaking to the press at the third Annual Cycle of Lectures on ‘Information Technologies for the Angolan Financial System’, financial inclusion is one of the major challenges of the national financial system, ‘since it is an important instrument in the fight against poverty’.

Information technology is evolving in a significant way, so that new financial and technological companies are in a moment of integration of their functions with regard to the payment services, where the interaction of the new technologies with the financial sector, he added. In his speech, Rui Minguêns also spoke about the dependence of the sector on external consultants in information technology services for the national financial system.

According to the manager, the vision and intention of the Central Bank is to work with the sector to reduce external consultancy in the field of ICT, with the incorporation of Angolan experts, hence the need for more awareness and publication of national information technology services.

According to Macauhub, almost all commercial financial institutions surveyed by the National Bank of Angola prefer foreign suppliers of information technology, a central bank official said on Wednesday, March 27 in Angola’s capital, Luanda. Marcelino Hiyekwa, the director of central bank’s IT department opined that of the 28 banks operating in the country, only 20 responded to the survey, 19 of which expressed a preference for foreign suppliers and only one for nationals.

The reasons given for the preference for foreign suppliers include limitations of human, financial and technological resources of Angolan companies to provide the solutions that banks need. The other reason is the price charged by domestic companies is the same or higher than charged by foreign suppliers.

With inputs from agencies.

Also Read: Angola to get $1.8b from World Bank for implementation of social, economic projects

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