Afrimoney in Angola and its impact
Official Release | February 28, 2024

Mobile money is experiencing rapid growth in Africa, driven by improved access to technology, difficulties in accessing traditional financial services and an increase in contactless payments related to the coronavirus pandemic (COVID-19).

Millions of people who were previously excluded from the traditional banking system now have access to financial services thanks to mobile money, which has emerged as a disruptive innovation in Africa’s financial landscape.

Provided by telecommunications companies and supported by a network of licensed agents, mobile money services allow registered users to deposit money in a virtual wallet and use these funds for payments and purchases.

In Angola, the telecommunications operator Africell has launched the Afrimoney system – a fast and secure mobile money solution that allows you to transfer and withdraw money, make physical and virtual payments for products and services, and check your balance using your cell phone.

The use of the Afrimoney system significantly increases the number of people who are in the traditional banking system, although the sector still has many obstacles to overcome.

The Afrimoney system simplifies your experience at every stage, providing not only a convenient registration process using any Africell number, but also facilitating payment for a wide range of services. With security and efficiency, Afrimoney stands out by making financial transactions and service management accessible, guaranteeing a comprehensive solution for user needs.

For the informal market, Afrimoney offers the opportunity for greater financial inclusion, enabling secure and efficient transactions outside of traditional channels. The simplicity and convenience of financial operations through this platform can significantly ease the lives of informal entrepreneurs, providing them with an effective means of managing their finances and expanding their business activities.

Afrimoney’s ease of use can eliminate barriers that many informal market participants face when dealing with conventional financial institutions. More accessible and faster transactions can contribute to the financial stability of individuals in the informal market, thus promoting a more robust and dynamic environment for economic growth.

In this way, Afrimoney not only represents a positive transformation in Angola’s financial landscape in general, but also emerges as a catalyst for improving conditions and opportunities in the informal market, thus boosting economic growth and sustainable development.

If you are an Africell client, you can activate your Afrimoney account by following these steps:
1. Dial*777# from your Africell number
2. You will receive a message to confirm the registration of your Afrimoney account, along with your initial PIN (“XXXX”), which you must change in order to activate your account and start enjoying the services.

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