The launch of the Private Credit Information Centre (CPIC) in Angola will make it possible to increase the availability of credit and reduce bad debts’ level.
The announcement comes as the CPIC is processing customer data that will be provided to banks and service companies.
CPIC’s Director of Markets, Julay Morais, told journalists in Luanda that by the end of this year the first customers of its services will have some information available.
According to the official, CPIC database will include all the relevant payment history of Angolan consumers.
The main aim, he added, was to analyse consumption habits and thus create capacity to improve decision-making when granting credit.
With this mechanism credit institutions will be able to get to know their customers’ profiles in a “broader” way and reduce default and over-indebtedness, he added.
The service will allow non-financial companies to sell their credit products as well, Mr Morais added.
Without information there is no credit market, said economist Carlos Rosado de Carvalho, who noted that the financial market works on a basis of trust and requires a lot of information.
Commenting on the CPIC entry into operation of the CPIC, for MFM radio’s afternoon newspaper, the economist said that the increased volume of information for banks and companies could contribute to an increase in credit, but warned that there are other things that need to be done.
“With regard to the banks, this is already possible because the National Reserve Bank BNA has a Risk Centre where bad payers are listed. Despite this, it is not known that credit was skyrocketing,” he noted.
16/08/2022
