The Kenya Bankers Association (KBA) has signed a collaboration agreement with tech firm Huawei-Kenya that seeks to deepen financial inclusion in the banking sector through further deployment of technology and building fintech capacity.
In the partnership, KBA will work closely with Huawei-Kenya to spearhead industrywide capacity building initiatives aimed at promoting knowledge on financial technology innovation, digital transformation, and other ICT-related programmes in the banking industry.
KBA and Huawei will also aim to promote financial inclusion activities in line with the KBA Strategic Plan for the period 2020 to 2023. Launched last year, the Plan seeks to promote access to affordable financial services through tech-aided operational efficiency.
KBA Chief Executive Officer Dr. Habil Olaka said: “This partnership will further focus on research and knowledge-sharing activities, which will supplement the research initiatives that continue to be spearheaded by the Association’s Centre for Research Financial on Markets and Policy. In this regard, the collaboration will certainly augment KBA’s and member banks’ knowledge base in engagements with diverse stakeholders from a fact-based perspective.”
The partnership was announced just before the 2020 edition of the Huawei-KBA Online FSI Summit which occurred on 30th September. The forum is among the initiatives Huawei and KBA are jointly implementing to promote the delivery of efficient banking services through technology under the cooperation agreement.
Huawei-Kenya Chief Executive Officer Will Meng welcomed the partnership, saying technology will remain a core driver towards enhancing convenient access to financial services in light of disruptive occurrences such as the ongoing Covid-19 pandemic.
“The theme of the summit was ‘Building Banking Core Competence through Digital Transformation to Accelerate Inclusive Finance’. It is one of the initiatives we are rolling out in Kenya in partnership with the Association to ensure we optimally leverage on technology to achieve affordable and accessible financial services in the regional economy,” Meng added.
The announcement comes alongside a further partnership from Huawei as they are collaborating with Mondia Pay to offer contactless digital payment options through Huawei Mobile Services in the MEA region.
Huawei has been working closely with Mondia Pay, a digital payments fintech company, as part of its commitment to supporting developers in the MEA region. This strategic partnership will allow for increased DCB coverage and IAP (In-App Purchase) kit capabilities for global developers.
As a result, Huawei and smartphone HONOR users in almost 20 countries including, Egypt, South Africa, Tunisia, Nigeria, Tanzania, Madagascar, Liberia, and Botswana, will be able to make cashless payments securely without the need for bank cards by downloading the app from Huawei’s Application Store, AppGallery. In addition, Mondia Pay will also market Huawei’s games content in Egypt.
“This new partnership with Huawei is an endorsement of Mondia Pay’s industry expertise and deep routed knowledge of Africa. Customers across the continent will benefit from our fully integrated digital payment technology to make frictionless payments in a fast, safe and secure manner. We also support the natural progression towards cashless societies, fast-tracked by current affairs such as COVID-19,” said Simon Rahmann, CEO Mondia Pay.