South Africa adds Angolan kwanza to regional cross-border payment system

Trade and interbank transactions between Angola and ​the other 14 SADC states amounted to approximately $3.77 billion across nine currencies in ​2025, SARB data showed. South Africa accounted for a significant share of these flows, at nearly $2.99 billion, representing about 60% of transaction volumes and 79% of total value. Payment reforms were ​a key issue under South Africa’s G20 presidency.

Kganyago called for greater interoperability ​and regulatory alignment in sub-Saharan Africa. Speaking at a press briefing in Pretoria with the Banco ‌Nacional ⁠de Angola Governor Manuel Tiago Dias, Kganyago said the introduction of the kwanza was a demonstration of regional integration in action. “It strengthens regional financial connectivity and it shows that Africa can build sophisticated financial market infrastructure that responds ​to African priorities”, said ​Kganyago.

Operated by ⁠the SARB on behalf of the region’s central banks, the real-time settlements system has grown since its 2013 launch ​to include 15 member states and up to 89 participating ​banks. SADC-RTGS system ⁠is one of several initiatives currently underway to improve cross-border payments across Africa, alongside the continent-wide Pan-African Payment and Settlement System (PAPSS) and the African Continental Free ⁠Trade ​Area (AfCFTA) Protocol on Digital Trade. Sub-Saharan Africa’s average person-to-person ​remittance cost sits above 4%, well above the G20’s global target of an average cost of ​1% by 2027.