The US Embassy in Angola, in collaboration with mobile operator Africell, has kicked off the ‘Digital Money is Better’ project. This initiative aims to underscore the significance of digital money in facilitating seamless money transfers.
Funded by the US Government Agency for International Development, the project will partner with Africell, which will match the funding to bolster the initiative, alongside its existing mobile network services.
The primary goal of the project is to boost the utilization of mobile money applications and support the Angolan government’s efforts in enhancing financial inclusion.
The ‘Digital Money is Better’ project seeks to empower Angolan communities by enhancing personal financial management and enabling access to financial services through mobile phones.
The project was formally inaugurated at the headquarters of Africell in Luanda, with the presence of US Ambassador to Angola and São Tomé and Príncipe, Tulinabo S. Mushingi.
The initiative aligns with President Joe Biden’s commitment at the 2023 G7 Summit to support digital infrastructure investments, encompassing mobile network infrastructure, 5G networks, and digital banking applications.
Speaking at the launch, Ambassador Mushingi highlighted the transformative potential of digital financial tools, emphasizing their ability to reach marginalized individuals and break down barriers in the financial system. He expressed the hope that the ‘Digital Money is Better’ project would bridge the gap between Angolans and financial services, fostering convenient and inclusive payment solutions.