The Private Credit Information Bureaus are based on the sharing of personal data of financial nature, and therefore, in the context of Angola, their supervision is carried out by the Data Protection Agency (APD in Portuguese).
In accordance with its role as regulator, APD brought together financial and non-financial institutions around the topic "Operationalization of the Private Credit Information Bureaus in Angola", with a view not only to explain the technical ways of collecting and systematizing information on deferred payments of a diverse set of users who enjoy goods and services on credit, but also to provide information on how this sharing should occur in the light of the Personal Data Protection Law (LPDP in Portuguese).
According to the Chairwoman of the Board of Directors of APD, Maria das Dores Pinto, who was responsible for the opening of the event, personal data has a financial value today, and warned all stakeholders responsible for sharing this information with the Credit Bureau to obtain, first of all, the consent of the owners of such data.
The event, co-organized with the IFC of the World Bank Group, took place online, and brought together not only financial and non-financial institutions, but also heads of ministerial departments.
The databases containing information about the financial behavior of Angolans will become operational for the public starting in August, and its operation will be the responsibility of Bureau .ao, whose license to start activity was granted in February this year by APD.