The announcement was made on Monday by South African Reserve Bank (Sarb) Governor Lesetja Kganyago, who also chairs the SADC Committee of Central Bank Governors, alongside Banco Nacional de Angola Governor Manuel Tiago Dias.
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The Angolan kwanza has officially been introduced as a settlement currency in the Southern African Development Community's real-time gross settlement (SADC-RTGS) system, marking a major step towards deeper regional financial integration and more efficient cross-border trade.
The announcement was made on Monday by South African Reserve Bank (Sarb) Governor Lesetja Kganyago, who also chairs the SADC Committee of Central Bank Governors, alongside Banco Nacional de Angola Governor Manuel Tiago Dias.
The inclusion of the kwanza is aimed at modernising regional payments and supports the Group of Twenty's (G20) objective of making cross-border payments faster, cheaper and more efficient.
Kganyago said the kwanza’s inclusion supports regional payments modernisation efforts and aligns with the G20’s cross-border payment goals of improving efficiency in cross-border transactions.
"It is a privilege to join you today as we mark an important milestone for regional financial integration. The onboarding of the Angolan Kwanzaa onto the SADC real-time gross settlement system," Kganyago said.
"This is not simply the addition of another settlement currency. It is a practical step towards a Southern Africa that is more integrated, more connected and better able to support trade, investment, financial stability and shared prosperity."
The kwanza becomes only the second settlement currency in the SADC-RTGS system since its launch in 2013, with the South African rand having been the sole settlement currency until now. The regional payment platform currently serves 15 SADC member states.
The SADC-RTGS (formerly known as SIRESS) is the regional cross-border real-time gross settlement (RTGS) system in the SADC region. It is an automated interbank settlement system operated by the Sarb, as appointed by the SADC participating member central banks.
Participants in SADC-RTGS include central banks and financial institutions, that is banks and non-banks in the SADC region that are authorised by their respective central bank to participate.
By allowing direct settlement in kwanza, businesses and financial institutions will no longer need to rely as heavily on foreign currency conversions when conducting transactions in Angola's currency. This is expected to reduce transaction costs and improve payment efficiency for companies trading across the region.
Sarb said the move forms part of a broader strategy to expand the system's multi-currency capability, with additional regional currencies, including the Botswana pula, expected to be introduced in future.
"The enablement of a multi-currency capability in the SADC-RTGS system is one of the strategic initiatives to strengthen regional financial integration, promote greater use of local and regional currencies in cross-border trade and reduce reliance on non-SADC currencies," the central bank said.
According to the Sarb, broader use of regional currencies will make it easier for businesses to trade across SADC markets while improving cash flow through faster settlement of cross-border transactions.
The SADC-RTGS system, which celebrated 13 years of operation this month, processes approximately R250.7 billion worth of transactions every month and is operated by the Sarb on behalf of the SADC Committee of Central Bank Governors.
Trade and interbank transactions between Angola and the other 14 SADC member states reached approximately $3.77bn during 2025, spanning nine currencies. South Africa accounted for nearly $2.99bn of those flows, representing around 60% of transaction volumes and 79% of their total value.
Sarb said the regional payment system supports economic growth by reducing payment friction, improving the security of transactions through settlement by central banks, lowering costs associated with foreign intermediaries, and creating a more conducive environment for trade, investment and job creation.
The central bank added that enabling more regional currencies within the SADC-RTGS system would strengthen member countries' financial positions, reduce dependence on foreign currencies and enhance regional economic integration.
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