Southern Africa's regional payment system adds Angolan kwanza as second settlement currency
The SADC-RTGS payment system has integrated the Angolan kwanza as a settlement currency to facilitate regional trade. Additionally, Visa and Airwallex have partnered to develop new payment infrastructure for the global freight industry.
Why it matters
These developments represent significant steps in reducing foreign exchange friction for African regional trade and modernizing global shipping logistics.
The Southern African Development Community Real-Time Gross Settlement system has added the Angolan kwanza as its second settlement currency and the first since the platform launched in 2013. The change enables direct kwanza settlement across the network, which previously processed transactions only in South African rand.
Elsewhere, Visa and Airwallex agreed to develop payment solutions for freight platforms, while Angola's Banco de Fomento plans to connect to China's cross-border renminbi payment system. Mastercard also expanded the controls and connectivity available through its virtual card platform.
1. SADC-RTGS adds Angolan kwanza as first new settlement currency since launch
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in