Angolan summit calls for stronger consumer financial education
By the AFREEQUE newsroom, based on Jornal F8
The Normas & Banca+ summit calls for stronger financial education and greater knowledge of banking rules in Angola to better protect consumers and improve the application of standards. More than four million Angolans aged 15 to 35 are reportedly illiterate, according to Manuel Guimarães António, quoted by Jornal F8.
The coordinator of the Normas & Banca+ summit, Manuel Guimarães António, on 24 October called for stronger financial education and greater knowledge of the rules governing Angola’s financial system. He said this approach should improve the application of standards, protect consumer rights and increase compliance with obligations by financial institutions, Jornal F8 reports.
The summit aims to explain these rules to banking professionals and citizens who use financial services. Manuel Guimarães António distinguishes between the ability to manage one’s money and an understanding of the legal rules governing its use, a dimension he considers essential to developing safer financial inclusion in Angola.
More than four million Angolans aged between 15 and 35 still did not know how to read or write, according to figures cited at the meeting. The coordinator nevertheless said Angola already had a strong regulatory framework and that the main challenge lay in institutions, their employees and their clients knowing and effectively applying these standards.
