The Angolan kwanza has become the first new settlement currency added to the Southern African regional payment system since its 2013 launch, marking a historic expansion beyond the South African rand.
Speaking in Pretoria alongside Banco Nacional de Angola Governor Manuel Tiago Dias on Monday, South African Reserve Bank Governor Lesetja Kganyago hailed the milestone for regional financial integration.
“This is not simply the addition of another settlement currency,” Kganyago said. “It is a practical step towards a Southern Africa that is more integrated, more connected and better able to support trade.”
By enabling direct settlement in kwanza, the platform eliminates foreign exchange conversion steps through third-party hard currencies, lowering transaction costs, correspondent banking fees, and settlement delays for cross-border businesses.
SADC-RTGS data reveals trade and interbank flows between Angola and 14 member states reached $3.77 billion across nine currencies in 2025, underscoring significant commercial demand for localized settlement channels.
South Africa accounted for nearly $2.99 billion of those total flows, representing 60% of overall transaction volume and 79% of total monetary value within the regional corridor.
The platform currently serves 15 member states and 89 participating banks, aligning with G20 cross-border payment goals and broader continental initiatives like the Pan-African Payment and Settlement System (PAPSS).
Central bank governors intend to onboard additional regional currencies in due course, starting with the Botswana pula, to further reduce reliance on non-SADC currencies and lower remittance costs.
