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The Southern African Development Community’s regional payment system has added the Angolan kwanza as a new settlement currency, the first since the system launched in 2013. South African Reserve Bank Governor Lesetja Kganyago said the move will strengthen real-time cross-border transactions. In 2025, trade and interbank transactions between Angola and the other 14 SADC member states totaled approximately $3.77 billion across nine currencies, with South Africa accounting for nearly $2.99 billion of that value. The expansion aligns with broader efforts to improve payment interoperability across Africa, complementing initiatives such as the Pan-African Payment and Settlement System and the African Continental Free Trade Area. Policymakers also hope enhanced payment infrastructure will help lower remittance costs, which remain well above global targets.
Reuters