Due to the huge queues that have been registered to withdraw money at ATMs (multi-caixas). Many commercial bank customers resort to Kinguila Cobram to escape the long lines, paying 10% of the amount they intend to withdraw.
Kinguila Charge 10% and Replace ATMs for Cash Withdrawals
For example, for those who want to withdraw 10,000 kwanzas, they pay a fee of 1,000 kwanzas, after having made the “payment” at the TPA of a Kinguila.
Next to ATMs and even at gas stations, it is now common to see someone handling a TPA and charging for the service.
Some commercial banks say there is no shortage of banknotes in the market and point out that the inoperability of some ATMs is the reason for this. Others claim that the National Bank of Angola (BNA) should be responsible for the shortage of banknotes.