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Angola Cards & Payments Market Report

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  • Published Date: December 2017


The report provides a comprehensive overview of the cards, payments and consumer banking market in Angola.
Angola and China enjoy a very close relationship. Angola is China's second-biggest trade partner in Africa; more importantly, Angola is the second-largest supplier of crude oil to China (behind Saudi Arabia).
Compared to the top six economies in Africa, the Angolan consumer credit market is comparable to that of Algeria but lags behind other major African economies such as Morocco and Egypt.
Debit cards are used primarily for ATM withdrawals. However, the usage of debit cards for making payments has been increasing, which is evident from the fact that the proportion of ATM withdrawals has fallen
The majority of credit cards come with an annual fee; however, supplementary cards usually have a discounted fee.Angola, being a cash-based economy, has very limited POS and ATM penetration. The number of registered POS terminals increased significantly at the end of 2016.


  • Angola's economy has suffered due to the oil price slump in recent years. Reduced export revenues have led to a depreciation of the country's currency, a shortage of foreign currency in the market and a fall in consumer spending power.
  • Angola has a competitive banking market with the top four banks accounting for half of the total assets. However, just a third of adults in the country has a bank account.
  • Consumer credit is relatively underdeveloped with the average debt per household standing at just $550 at the end of 2016.
  • The credit cards market is still in its infancy in Angola; there were just four credit cards per 100 adults at the end of 2016.
  • The number of POS terminals more than doubled between 2013 and 2016; however, acceptance infrastructure remains concentrated in the capital city, Luanda.
  • Visa, accounting for over 99 per cent of cards in issue, has a virtual monopoly in the credit cards market.
  • Multicaixa dominates the Angolan debit cards market, representing about 92 per cent of total debit cards in circulation and 97.5 per cent of total debit card billed volume in 2016.
  • Banco de Fomento Angola (BFA) and Banco BIC are the leading credit card issuers in Angola, with a combined market share of over 50 per cent in 2016.
  • Empresa Interbancária de Serviços (EMIS) is the sole issuing processor of bank cards in Angola and is also the sole acquiring processor.
  • The central bank, Banco Nacional de Angola (BNA), is the majority shareholder in EMIS with banks such as BFA, Banco de Poupança e Crédito (BPC), Banco BIC and Banco Angolano de Investimentos (BAI) holding smaller stakes.

Angola Payments Research | Report Contents

The economy
Retail banking
Consumer finance market
Cards market
Profit pool
Pricing and enhancements
The networks: credit cards
The networks: debit cards
Merchant acquiring and processing
Online acquiring
Regulatory and other cards market information

Appendix I: Demographics

  • Population metrics
  • Ownership of key consumer goods
  • Internet usage by population

Appendix II: The economy

  • Major economic indicators

Appendix III: Retail banking

  • Major retail banking indicators
  • Banking/infrastructure penetration
  • Retail banks key metrics
  • Retail banks profit & loss metrics

Appendix IV: Consumer finance market

  • Consumer credit outstandings and indebtedness
  • Consumer credit outstandings by product

Appendix V: Cards market

  • Credit card data numbers
  • Total credit card metrics
  • Consumer credit cards metrics
  • Commercial credit cards metrics
  • Credit cards profitability Indicators
  • Debit card numbers
  • Debit cards metrics

Appendix VI: E-money

  • Prepaid/e-money cards metrics

Appendix VII: Profit pool

  • Profit pool

Appendix VIII: Pricing and enhancements

  • Card pricing and enhancements

Appendix IX: The networks: credit cards

  • Networks' credit card market shares
  • Networks' credit card data
  • Networks' credit card billed volume
  • Networks' number of credit card transactions
  • Networks' average credit card transaction value

Appendix X: The networks: debit cards

  • Networks' debit card market shares
  • Networks' debit card numbers
  • Networks' debit card billed volume
  • Networks' number of debit card transactions
  • Networks' average debit card transaction value

Appendix XI: Issuers

  • Key credit card issuers market shares by credit card numbers
  • Key issuers market shares in credit card outstandings
  • Key debit card Issuers market shares by debit card numbers

Appendix XII: Merchant acquirers and processing

  • Merchant acquirer credit card market share
  • Credit card merchant service charges
  • Merchant acquirer debit card market share
  • Debit card merchant service charges
  • Credit card issuer | issuing processor relationships
  • Credit card acquirer | acquiring processor relationships
  • Credit card issuing processor market shares by card numbers
  • Credit card acquiring processor market shares by the number of POS transactions

Angola Country Report | Selected Extracts

Demographics and Economy
Angola is one of the least densely populated countries in the world, with a density of 14.8 people per square kilometre. Angola is the second-largest oil producer in the Sub-Saharan Africa region (only behind Nigeria).

Retail Banking
There are 30 retail banks operating in the country as of the fourth quarter of 2017. The banking industry remains dominated by five banks: Banco de Poupança e Crédito (BPC), Banco de Fomento Angola (BFA), Banco Angolano de Investimentos (BAI), Banco BIC and Banco Millennium Atlantico(BMA).

Consumer Finance Market
Compared to the top six economies in Africa, the Angolan consumer credit market is comparable to that of Algeria, but lags behind other major African economies such as Morocco and Egypt.

Cards market
. Of the total payment cards in circulation, debit cards account for the majority of payment cards with a share of 62% in 2016. Multicaixa cards are the most popular form of debit cards in Angola, while Visa has a marginal share in the debit card space.

At the end of 2016, there were 2.4 million prepaid cards present in the country, an increase of 27.6% when compared to 2015.

Profit Pool
The Angolan credit cards market is still in its infancy, with only about 622,000 credit cards in circulation at the end of 2016, comprising just 8% of total payment cards in issue.

Card Networks:
Visa is by far the dominant player in the Angolan credit cards market. The network held a market share of 99.6% in terms of cards in issue in 2016. Debit cards have a significantly stronger presence in Angola than credit and prepaid cards, representing about 62% of total payment cards and 88% of payment card billed volume.

Key Retail Banks and Issuers
At the end of 2016, there were 27 commercial banks in operation in Angola (up from 17 in 2006) – serving a population of 29 million.

Acquiring and Processing
Angola, being a cash-based economy, has very limited POS and ATM penetration; there were only about 47 terminals and two ATMs per 10,000 adults at the end of 2016. EMIS is the sole issuing processor of bank cards in Angola and is also the sole acquiring processor of bank cards.

Online Acquiring
Compared to other sub-Saharan countries, Angola has a fairly high internet penetration rate of around 13% in 2016. Despite this, the e-commerce market is underdeveloped.

Regulatory and Markets Information
In Angola, banking and other financial services are regulated by the central bank, the BNA. It monitors the stability of the financial market and is responsible for the supervision of payment systems of banks.


Financial reports include detailed market and competitor intelligence on payments cards, e-money, acquiring, retail banking, and consumer credit in Africa. Analysts use primary and secondary source data and conduct in-depth interviews with senior industry executives and African finance experts.

See more Africa Country Reports or explore the full range of cards and payments reports available for markets worldwide or view our latest reports.

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