Three quarters of Angola’s payment remittances in 2023 will be sent to Portugal and Brazil – Economy – SAPO.pt

The BNA highlighted a growing trend in sending and receiving payments through companies providing payment services in the last two years and highlighted that, in 2023, the value of remittances abroad reached the amount of 89.44 million dollars, a year-on-year variation of almost 13%.

This increase is justified by the entry of new banks providing this service, as well as the return of Western Union, said the BNA.

Portugal and Brazil were the main recipients of these remittances, with 43.86% and 31.86%, respectively.

Receipts had a similar behavior, recording an amount of 16.7 million dollars (15.64 million euros), an increase of 9.28% compared to 2022.

Portugal was the main country of origin for these values ​​with a representation of 17.69%, followed by the United States of America with 17.03%, France, the United Kingdom and Brazil with 11.54%, 9.13% and 6.57%, respectively.

In 2023, the Angolan non-banking financial sector was made up of 60 institutions, of which 58 were in operation, namely 26 exchange offices (two suspended), 15 companies providing payment services, 18 microcredit companies and one credit cooperative company.

The BNA report highlighted the successive decreases in the last five years in foreign currency purchase and sale operations at exchange offices, which reached their lowest value in 2023.

In the period under analysis, the volume of foreign currency purchases made by exchange offices reached the equivalent of 3.42 million dollars (3.20 million euros), while sales of foreign currency amounted to 2.87 million dollars (2.68 million euros).

RCR // TDI

Lusa/end