Multicaixa Network 'breaks' record of 8 million operations.

Growth trend is especially notable considering that the last half of the year tends to show more pronounced growth. Based on this pattern, it is expected that the volume transacted on the Multicaixa Network in 2024 will approach 35 billion Kwanzas.

The Interbank Service Company (EMIS) registered, in April, more than 8 million operations on the Multicaixa network, setting a new monthly record for this type of operation since its launch, according to data from the institution to which Kieto Economia had access.

In practice, the Multicaixa Network transacted, in the first five months of this year, the amount of 12.9 billion Kwanzas, corresponding to a growth of 47% compared to the same period in 2023, which transacted 8.77 billion Kwanzas. This performance demonstrates robust growth compared to the volume transacted throughout 2023, which totaled 25.5 billion Kwanzas.

In the month of June this year, the MULTICAIXA Card Management System (SGCM), transactional movement recorded a nominal drop of minus 6.7% compared to the previous month and a growth of 40.7% compared to the same month. . The value processed was 2,661.36 billion kwanza, with a drop of less than 9.9% compared to the previous month and a growth of 26.1% compared to the same month.

The Credit Transfer System (STC) transacted in the period from January to May of the current year, the amount of 5.7 billion Kwanza, having transacted in 2023 the amount of 13.5 billion Kwanza, and should close the year 2024 with a transacted amount close to 15 billion Kwanza.

In the month of June of the year in question, 1,831,473 credit transfers worth 1,059.05 billion kwanza were cleared. The volume of cleared transfers fell by 29.7% compared to the previous month and decreased by 17.2% compared to the month in question.

The total volume processed in retail payment systems (MULTICAIXA and STC) is therefore approaching the equivalent of 100% of Non-Oil GDP. Cash withdrawals corresponded to only 15% of this amount, which reveals the payment system's high rate of electronic transactionality.

During the month of June 2024, the Check Clearing System (SCC) cleared 531 interbank checks worth 3.01 billion kwanzas and filed 8,819 intrabank checks in the Access Control Interface (ACI). The total volume of checks circulating in the SCC registered a drop of 23.4% compared to the previous month and reduced 77.6% compared to the previous month.

These impressive numbers demonstrate the efficiency and popularity, and indicate a strong uptake of new payment technologies and growing confidence in the payments system in Angola.