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Angolan Kwanza Joins Regional Payment System
27 Jul
Summary
- Angolan kwanza is the first new currency in the regional payment system.
- The platform was launched in 2013 and previously only used the rand.
- This marks a significant expansion beyond the South African rand.
The Southern African regional payment system has welcomed the Angolan kwanza as its first new settlement currency since its inception in 2013. This development represents a notable milestone in the platform's growth, signifying its expansion beyond the sole use of the South African rand.
The addition of the kwanza highlights increased financial integration within the region. Previously, the system operated exclusively with the rand, but this recent inclusion opens doors for broader currency acceptance and use among member nations.
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