Full Breakdown
Angola’s Kwanza Joins SADC Real-Time Gross Settlement System
7/28/2026, 12:34:21 PM
Core Development
The Angolan kwanza has been incorporated into the Southern African Development Community Real-Time Gross Settlement (SADC-RTGS) platform, enabling approved banks and financial institutions to settle eligible regional transactions directly in Angola’s currency. The move was announced by South African Reserve Bank Governor Lesetja Kganyago and Banco Nacional de Angola Governor Manuel Tiago Dias. Prior to this addition, the rand was the sole settlement currency on the system, which has operated since 2013.
System Overview & Scale
SADC-RTGS links central banks, commercial banks and other approved institutions across 15 member countries. It processes roughly $15 billion (R250.7 billion) each month and, by January 2023, had settled more than 2.8 million transactions worth R10.97 trillion. Trade between Angola and the other SADC members reached about $3.77 billion in 2025, spanning nine currencies. South Africa accounted for nearly $2.99 billion of that volume—about 60 % of transaction amounts and 79 % of total value—highlighting its central role in regional commerce.
Official Rationale
The South African Reserve Bank stated that the inclusion of the kwanza will cut foreign-exchange conversion steps, lower transaction costs and speed the receipt of funds for businesses. The SADC secretariat described the platform as regional infrastructure designed to settle cross-border payments without heavy reliance on intermediary banks outside Southern Africa.
Regional Impact
Replacing the rand’s monopoly with a multi-currency framework is part of SADC’s broader plan to reduce dependence on external currencies and make cross-border payments faster and cheaper. Direct settlement in kwanza is expected to simplify Angola-related transactions, encourage invoicing and receipt in the local currency, and lessen the need for multiple conversions. The South African Reserve Bank indicated that additional currencies, such as Botswana’s pula, will be added in due course.
Future Outlook
The expansion of SADC-RTGS complements the continent-wide Pan-African Payment and Settlement System (PAPSS), which serves a different purpose by handling broader pan-African local-currency payments. Together, these initiatives reflect an accelerating push by African governments and financial institutions to promote local-currency settlement as a means of reducing trade costs and foreign-exchange exposure.
