Luanda: The Minister of State for Economic Coordination announced on Thursday that the reduction in inflation is creating favorable conditions for expanding access to credit at more affordable costs, while simultaneously boosting financial inclusion, investment, and economic growth.
According to Angola Press News Agency, Jos© de Lima Massano highlighted the latest inflation data for Angola, stating that the year-on-year rate slowed to 10.11% in June, marking the lowest level recorded since 2015. These remarks were made during the opening of the 15th Meeting of the African Financial Inclusion Policy Initiative. He emphasized that the improved business environment and macroeconomic stability protect household income, preserve savings, stimulate investment, and create a favorable context for developing innovative financial solutions and expanding access to credit.
Massano outlined the next phase of the National Financial Inclusion Strategy (ENIF), focusing on not only increasing the number of citizens with access to the financial system but also ensuring that such access results in better opportunities, higher productivity, and greater well-being for families. He noted that the implementation of the ENIF involves creating conditions for mobile and digital payment service providers to evolve into credit providers, thereby diversifying the economy's funding sources and expanding access to financial solutions.
Despite the short implementation period of the ENIF, the results are encouraging, with the financial inclusion rate reaching 51.7% by the end of the first quarter of 2026, approaching the 65% target set for 2027. The banking penetration rate has reached 32% of the population, equivalent to approximately 5.7 million citizens integrated into the formal banking system, with projections to increase this figure to 36% by 2027.
Massano also highlighted the growth of mobile and digital payments, which saw a rise of approximately 56% in the first half of 2026 compared to the same period the previous year, totaling around 1.4 billion transactions, predominantly transfers and payments. He announced that the ENIF implementation plan includes creating conditions for mobile and digital payment service providers to expand into credit provision, thereby helping to diversify the economy's funding sources and broaden access to financial solutions.
Concluding the 15th Meeting of the African Financial Inclusion Policy Initiative, Massano advocated for strengthened cooperation among African nations to promote financial innovation, payment system interoperability, financial literacy, and consumer protection.