US gov launches Digital Money is Better project in Angola
The US Embassy in Angola in partnership with mobile operator Africell have started the Digital Money is Better project. The aim is to highlight the relevance of digital money in making it easier to send and receive money.
The project is funded by the US Government Agency for International Development and will be implemented in collaboration with Africell, which will contribute a similar amount to the initiative in addition to its existing mobile network.
The Aim of the project is to grow the usage of mobile money applications, and assist the government of Angola in increasing financial inclusion.
According to the US embassy, the Digital Money is Better project aims to empower communities in Angola by improving personal finances and allowing access to financial services via cell phones.
The project was officially launched in Luanda at the headquarters of Africell, in the presence of US Ambassador to Angola and São Tomé and Príncipe Tulinabo S. Mushingi.
The project, according to the US embassy, builds on President Joe Biden's commitment at the 2023 G7 Summit to assist digital infrastructure investments, such as mobile network infrastructure, 5G networks, and digital banking applications.
Speaking at the event, Mushingi said: “Digital financial tools and virtual money have emerged as powerful enablers, breaking down barriers and reaching those previously excluded from the formal financial system.
"Unfortunately, this revolution in the way we access and use financial services has not yet fully reached Angola."
He added that the Digital Money is Better project aims to address this.
“This project will empower the Angolan population to conveniently make and receive payments, bridging the gap between individuals and financial services," he said.