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Angola's strong growth potential in retail banking services
2 Dec 2014 14:00

Presented by Patrick Houlihan, Researcher, Lafferty Group


Since the end of its devastating civil war in 2002, Angola has seen very strong growth in a number of areas, especially in its banking sector. Retail banking assets have seen a near eight fold increase from 2006 until last year, while retail banking deposits have grown by a factor of eleven over the same period. The steep increase in the level of bancarization has seen a corresponding increase in the number of debit cards in issue, which is indicative of the growth of an emerging middle-class. This expansion is an indication of the huge potential of the southern African country, which is the second largest oil producer in Sub-Saharan Africa.


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