Luanda: The governor of the National Bank of Angola (BNA), Manuel Tiago Dias, announced on Thursday that the Casa do Kwanza represents a significant milestone in modernizing the management of circulating funds within the institution, enhancing service capacity and efficiency for commercial banks.
According to Angola Press News Agency, the governor made these remarks during the inauguration of the infrastructure by President Joo Louren§o. He emphasized that the new facility increases the capacity for storage and processing of banknotes and coins, while minimizing human intervention in cash handling. Manuel Tiago Dias highlighted that the Casa do Kwanza is a substantial upgrade from previous structures.
The BNA, as per its Organic Law, holds the exclusive rights to issue banknotes and coins, making it the primary manager of the circulating medium and responsible for the circulation of legal tender in the country. To fulfill this role, the BNA's operations involve issuing and treasury departments, regional delegations, and securities depositories acting on its behalf.
The Casa do Kwanza is equipped to support the bank's continuity strategy, ensuring critical activities can proceed during unforeseen events. The governor noted the BNA's ongoing comprehensive modernization program aimed at enhancing the cash management function. Additionally, the infrastructure is set to serve as a learning center for environmental protection, fostering a model of responsible development.
This modern facility is designed to meet the growing cash demand driven by demographic growth in Angola. Casa do Kwanza boasts five strong rooms and automated systems for packaging, moving, and storing currency, including areas for automatic and manual banknote processing and metal coin processing. The Automatic Banknote Processing Room can process over 4 million banknotes daily and is equipped with counterfeit detection sensors. The project also includes services for destroying damaged banknotes, aiding commercial banks, and receiving cash from manufacturers.