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South Africa Adds Angolan Kwanza to Regional Payment System in Boost for Cross Border Trade

South Africa has introduced the Angolan kwanza as a settlement currency in the Southern African Development Community Real Time Gross Settlement (SADC RTGS) system, marking the first new currency to join the regional cross border payment platform since its launch in 2013. According to Reuters, the announcement was made by South African Reserve Bank Governor Lesetja Kganyago alongside Banco Nacional de Angola Governor Manuel Tiago Dias, with the move aimed at strengthening regional financial integration and making cross border transactions faster and more efficient.

The SADC RTGS system enables real time settlement of cross border transactions among member states, replacing more expensive correspondent banking arrangements previously used for regional payments. Until now, the platform had settled transactions exclusively in South African rand. “The introduction of the Angolan kwanza as a settlement currency advances the region’s multi currency vision. It shows that regional currencies can do more, facilitate trade, reduce reliance on vehicle currencies and support more direct settlements within SADC,” Kganyago said. Trade and interbank transactions between Angola and the other 14 SADC member states totalled approximately $3.77 billion across nine currencies in 2025, according to South African Reserve Bank data.

The addition of the kwanza represents a significant milestone in Southern Africa’s drive to modernise payment infrastructure and deepen regional economic integration. For businesses, banks and investors, the move is expected to reduce transaction costs, improve payment efficiency and encourage greater use of local currencies in regional trade. It also aligns with the G20’s cross border payment objectives of lowering costs, increasing speed and improving transparency, while supporting broader efforts to strengthen intra African commerce.

Looking ahead, the inclusion of the kwanza could pave the way for additional regional currencies to join the SADC RTGS system, further reducing dependence on external settlement currencies and enhancing financial connectivity across Southern Africa. As governments and central banks continue investing in regional payment infrastructure, the initiative is expected to support trade, investment and economic growth across the SADC region.

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