LONDON, 14 August 2015 – Angola's total banking assets have grown dramatically in recent years, with an eightfold increase between 2006 ($8.5 billion) and 2014 (estimated at $69.8 billion).
In addition, the payment cards market in Angola is at a developing stage. In 2006, there were four payment cards per 100 adults, which increased greatly to an estimated 44 payment cards per 100 adults at the end of 2014. Lafferty Group forecasts that there will be 55.1 payment cards per 100 adults by the end of 2015.
"Angola is now the fifth–largest economy in Africa," observed Lafferty Group's Head of Research, Phathisani Khumalo. "The continued growth of the Angolan economy will lift a certain proportion out of poverty and demand for consumer credit is likely to increase."
There has been a ninefold increase in the number of active debit cards since 2006, when 351,000 active debit cards were in issue. At the end of 2014, this figure had increased to an estimated 3.26 million active cards. Lafferty forecasts that the number of active debit cards will increase to 3.8 million by the end of 2015.
The Lafferty Global Research report for Angola provides a comprehensive overview of the cards, payments and consumer banking market in the country together with invaluable market and competitor intelligence on payments cards, e–money, acquiring/processing, retail banking and consumer finance. The report is now available here.
For further information contact:
Senior Client Relationship Manager
Phone: +353 (0) 98 39119
AT A GLANCE
Angola, Tunisia, Turkey, Indonesia
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Established in 1981 by the company founder and executive chairman, Michael Lafferty, Lafferty Group has continued to be the leading global specialist provider of industry research and thought leadership for the retail banking and consumer financial services industry for over three decades.
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