04 October 2021

Angolan operator Unitel’s new mobile money offering, launched through its 100%-owned subsidiary Unitel Servicos de Pagamentos Moveis, has gone live.

Unitel Money is a mobile digital wallet platform, which gives users the option to send and receive money as well as make deposits and instant payments. At launch, the service will have a network of circa 1,000 agents to provide withdrawal and deposit services.

Unitel developed the service in partnership with Huawei, according to reports. The former is hoping to accrue five million users within four years – of which three million are expected in the near term.

However, Unitel Money does have significant competition in the market, with established services e-Kwanza and MCX Express offered respectively by BAI Bank and EMIS. Additionally, Kwattel is conducting a pilot launch of its new AkiPaga platform this month.

Earlier this year, the Angolan minister of economy and planning, Sérgio Santos, reportedly invited Kenyan mobile operator Safaricom to invest in the country. It is understood that Angola sees Safaricom’s successful M-pesa mobile payment solution as potentially playing a key role in its strategy for financial inclusion.