Angolan kwanza added to SADC-RTGS settlement system in regional payments push
Angolan kwanza added to SADC-RTGS settlement system in regional payments push
For all the News from Mashonaland Central, Join One of Our Groups
The Angolan kwanza has been formally introduced as a settlement currency in the Southern African Development Community real-time gross settlement (SADC-RTGS) system, a move expected to support faster and cheaper cross-border payments within the region.
The announcement was made on 27 July 2026 by Lesetja Kganyago, Governor of the South African Reserve Bank and Chairperson of the SADC Committee of Central Bank Governors (CCBG), alongside Manuel Tiago Dias, Governor of the Banco Nacional de Angola.
According to the announcement, the inclusion of the kwanza is part of wider efforts to deepen SADC trade and financial integration through modernised payment systems. It also aligns with the Group of Twenty (G20) cross-border payment goals, which focus on reducing costs, increasing speed and improving efficiency in international transactions.
The SADC-RTGS system, which started operating in 2013, has settled transactions exclusively in South African rand until now. With the addition of the kwanza, it becomes the second settlement currency in the system. The SADC-RTGS currently has 15 participating countries.
Officials said the key benefit of settling directly in kwanza is the potential reduction in foreign exchange conversion requirements for participants who transact in that currency. This, in turn, can lower transaction costs for financial institutions and their customers, an issue that matters for businesses and individuals relying on cross-border payments across Southern Africa.
The move also signals an intention to onboard additional regional currencies in future, with the Botswana pula mentioned as one of the currencies that could be considered in due course.
Regional observers say developments such as this are increasingly relevant as SADC countries seek practical ways to improve intra-regional trade, streamline payment settlement and reduce the friction that can come with converting currencies for cross-border transactions.
Mundubile seeks new party route as Hichilema eyes second term
Mundubile seeks new party route as Hichilema eyes second term For all the News from Mashon…
Baradzanwa Cultural Village Emerges as a Premier New Year Tourism Destination in Mazowe
For all the News from Mashonaland Central, Join One of Our Groups Multitudes of …
