Xikila Money provides mobile pay solution in Angola

The Angolan financial sector has been in desperate need of innovation for a long time. The new Angolan bank, Banco Postal wants to be the solution and eliminate bureaucracy and provide innovative digital services. They have created an ambitious mobile pay solution called Xikila Money.

I have long been envy of Kenya’s mobile pay system M-Pensa. An estimated 80% of the population in Kenya uses the mobile pay solution. M-Pensa has become the main payment method in the country and can be used by multinational eCommerce merchants for payment for online sale of goods and services.

M-Pesa is common currency in Kenya and offer services nationwide with at more than 45,000 independent agents.  It is safer than carrying around cash and ready and easy to pay with at a moment’s notice.

Xikila Money wants to become the M-Pesa of Angola

Xikila Money was presented to the public at a large event on March 21st, where keynote speaker N’Gunu Tiny, Chairman of the Board of Directors of Banco Postal explained: “Banco Postal has the capacity to change the lives of Angolans by attributing financial personality to them, a Bank whose main characteristics are proximity, impact and social innovation.” and adding that the bank’s main objective is to “enhance financial inclusion and economic and sustainable growth for Angolans through a totally innovative approach and offer with a gradual and well-structured national implementation”.

Xikila Money agencies and kiosks have been setup in Luanda and Huambo already and soon they will be found nationwide. At the Agencies or Kiosks it’s possible to withdraw, deposit or transfer money and pay for services.

 How does Xikila Money work?

To open a Xikila Account, go to a Xikila Money Branch or Kiosk with your personal mobile phone. Unlike banks it’s not required to provide copy of your personal documents, instead your documents will be scanned and your photo will be taken when you open your account.

The Xikila Money account is a current account for private customers over the age of 18 years. Under 18s will need to have their account opened by parents, guardians or legal representatives, who reside in Angola, and have a mobile phone.

Transfer money from your Xikila account to another Xikila account from your mobile phone, by SMS or using the Xikila app, or in a Xikila Money branch or kiosk. You will receive a message on your mobile phone to confirm the transfer.

The beneficiary can withdraw money in any Xikila Money branch or kiosk. After you receive the confirmation of the transfer, you just send the withdrawal code to the beneficiary so that he or she can show it as they make the withdrawal.

It’s also possible to make transfers to other bank accounts, from a Xikila Money account by using your mobile phone or a Xikila Money Branch or Kiosk. At the same time it’s also possible to receive transfers from other banks to your Xikila Money account.

To find out the fees and expenses associated, please see the list of fees here.


With the introduction of mobile and online payment solutions, come great business opportunities. Offering clients a simple payment option, will create a base for many new businesses ideas and services to be monetized at high scale.

Xikila Money offers a fintech pioneer solution in Angola and they will create a boost to the country’s online business.

The answer is now here and more fintech services will pop up in Angola soon. The question is not whether the Angolan population will adapt and use it these solutions, it’s a question of when.

Written by Kenneth Hogrefe