Angola’s Kwanza Joins Rand-Dominated SADC Payment Platform

July 28, 2026
By Mintesinot Nigussie

The Angolan kwanza has been added to the Southern African Development Community Real-Time Gross Settlement (SADC-RTGS) system, expanding the regional payment platform beyond its previous reliance on the South African rand. The move was announced by Lesetja Kganyago, Governor of the South African Reserve Bank, and Manuel Tiago Dias, Governor of the Banco Nacional de Angola, making the kwanza the second settlement currency introduced in the SADC-RTGS system since its establishment in 2013.

The inclusion of the kwanza allows eligible participants conducting transactions in the currency to settle directly in kwanza, reducing the need for multiple foreign exchange conversions and improving the efficiency of cross-border payments. The SADC-RTGS system had previously processed transactions exclusively in South African rand. The addition of Angola’s currency is expected to support greater use of regional currencies in trade and strengthen financial links among SADC member states.

Kganyago said the move supports regional payment modernisation efforts and aligns with global initiatives, including the Group of Twenty’s objectives to improve the efficiency of cross-border payments. The SADC-RTGS system is operated by the South African Reserve Bank on behalf of 15 participating SADC central banks and processes approximately R250.7 billion worth of transactions every month.

The introduction of the kwanza means eligible financial institutions and participants can settle transactions directly in the Angolan currency, reducing reliance on intermediary currency conversions, lowering transaction costs and improving the speed and reliability of regional payments.

Source: FSX Business News