South African Reserve Bank introduces Angolan kwanza as second settlement currency in the SADC-RTGS system

The South African Reserve Bank announced, with the Banco Nacional de Angola, that the Angolan kwanza has been introduced as a settlement currency in the Southern African Development Community real-time gross settlement system. The move makes the kwanza the second settlement currency in SADC-RTGS and marks a shift from the system’s exclusive use of the South African rand since its launch in 2013. Direct settlement in kwanza is intended to cut foreign exchange conversion needs for participants using the currency, lowering transaction costs and improving the speed and efficiency of cross-border payments. The 15-country SADC-RTGS system is operated by the South African Reserve Bank and processes R250.7 billion in transactions per month. The central bank linked the change to broader regional payments modernisation and to the Group of Twenty cross-border payments objectives. It also framed the expansion as part of a strategy to deepen regional financial integration, increase the use of local and regional currencies in cross-border trade and reduce reliance on non-SADC currencies. In 2025, trade and interbank transactions between Angola and the other 14 SADC states totaled about USD 3.77 billion across nine currencies, with South Africa accounting for nearly USD 2.99 billion. The South African Reserve Bank said the system’s new multi-currency capability is expected to support the addition of other regional currencies in due course, including the Botswana pula.