The banking institution KixiCrédito, in partnership with the International Finance Corporation (IFC), will strengthen the provision of digital financial services in the country, based on the terms of a partnership formed between the two organizations.
According to what has been revealed, this partnership will allow the Angolan microcredit society to get help from IFC to assess progress in the digital transformation and in the development of a roadmap, in order to provide financial products that support smaller companies, the creation jobs and financial inclusion.
The agreement will also include an analysis of the digital financial services market in the country and its regulatory framework, in order to identify the main players in the digital and fintech ecosystem for potential partnership opportunities.
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The establishment of these operations also arises from the finding that the majority of Angolans are not covered by the banking system or have access to only some basic banking services, especially the sections of the population that live in poorer urban areas or in rural areas.
"Partnering with IFC on this project is a unique opportunity for us to improve our delivery channels, adding a strong digital edge and, in the process, becoming more efficient and increasing financial inclusion in Angola”, said the executive president of KixiCrédito, Joaquim Catinda, quoted in the statement.
On the other hand, the IFC representative for Angola, Carlos Katsuya, informed that “increasing financial inclusion can reduce poverty, create jobs and boost economic growth".
