Bank Windhoek now accepts Angolan kwanza for trading

Bank Windhoek will, as of 19 June, offer currency exchange services for the Angolan kwanza at the Bank Windhoek Oshikango branch.

According to a statement by the bank, this agreement will allow businesses and traders to legally export either the Namibian dollar to Angola, or the Angolan kwanza to Namibia and exchange them into local currency for trading purposes.

This basically means that traders will now be allowed to cross the border with either currency and exchange it for the respective local currency for purposes of financial transactions.

"In recent years, the restrictions of trading with the US dollar at Oshikango put enormous financial strain on businesses, with many having to close operations in the process. With the new agreement, Bank Windhoek is confident that business will improve and boost the local economy,” said Claire Hobbs, chief treasurer at Bank Windhoek.