Mastercard and Banco Sol have expanded their partnership to launch two prepaid card products targeting SMEs and general consumers in Angola.
The products, introduced in May 2026, are designed to broaden financial access for currently underserved businesses and individuals in the Angolan market.
Prepaid products target underserved segments
The two prepaid cards differ in their target audiences: one is tailored specifically for SMEs, while the other is directed at Banco Sol's broader retail customer base. Both products are built on Mastercard's prepaid infrastructure and are intended to offer cardholders access to payment tools alongside financial literacy resources.
According to the official press release, the launch aligns with a period of measured economic expansion in Angola. Moreover, according to data from the National Institute of Statistics of Angola, the country's GDP grew 5.7% year-on-year in the fourth quarter of 2025, supported in part by non-oil sectors including trade, fisheries, construction, and segments of manufacturing. The figures reflect ongoing efforts toward economic diversification, which has increased demand for accessible financial products among businesses operating outside the formal banking mainstream.
Financial inclusion as strategic context
Angola's SME sector has historically faced barriers to formal financial services, including limited access to payment infrastructure and credit facilities. The introduction of prepaid card solutions represents a lower-threshold entry point for businesses that may not qualify for or require more complex financial products. For Banco Sol, the partnership with Mastercard reinforces its positioning in the SME and retail segments, while for Mastercard, the collaboration extends its footprint in sub-Saharan Africa's emerging markets.
Gabriel Swanepoel, President of Mastercard's Africa Division, noted that the partnership reflects a commitment to equipping SMEs with the tools and networks required to participate in the formal economy. In addition, Osvaldo Salvador Lemos Macaia, CEO of Banco Sol, indicated the products are intended to close gaps in financial inclusion by enabling a wider range of companies and individuals to access essential resources.
The products are scheduled to be available from May 2026. No specific rollout targets, cardholder volume projections, or pricing details were disclosed at the time of announcement.
As Angola continues efforts to broaden its economic base beyond oil revenues, partnerships that extend payment infrastructure to underserved commercial segments may play a supporting role in facilitating that transition. The Mastercard–Banco Sol collaboration reflects a broader pattern of card network operators working with regional banks to deepen financial inclusion across the African continent.
