Huawei and Standard Bank South Africa (SBSA) signed a strategic partnership agreement at the 2024 Forum on China-Africa partnership. The agreement aims to promote digital transformation in the banking sector and support South Africa’s digital industry growth.
Jason Cao, CEO of Huawei Digital Finance BU, discussed the established partnership between Huawei and SBSA, Africa’s leading bank, in numerous nations. He stated, “We are signing a pact for the future because we share the same goal of reaching excellence. Huawei’s cutting-edge technologies and global digital transformation experience will enable SBSA to speed financial infrastructure upgrades and digital transformation. This will set the standard for digital transformation on the African continent.
Gene Zhang, CEO of Huawei South Africa Enterprise Business, stated that “Huawei has served over 3,700 global financial services clients.” We are pushing Africa’s growth and doing our best to promote South Africa’s digital transformation through technology collaboration with Standard Bank.”
At this ceremony, Will Meng, CEO of Huawei South Africa, stated that “the synergies between our organisations will pave the way for innovative solutions and sustainable growth.” By combining Huawei’s cutting-edge technology with Standard Bank’s solid financial services, we can provide tens of millions of consumers with seamless and secure digital banking experiences. This collaboration is about more than just growing sales; it is also about developing thriving digital industries throughout Africa.”
Khomotso Molabe, Group Chief Information Officer at Standard Bank PPB, stated, “We are here today to celebrate and cement a very important strategic cooperation between the Standard Bank Group and Huawei.” He goes on to say that he considers it a form of marriage.
Molabe believes the agreement will be successful because it is built on the values of “mutual benefit, open communication, support for each other’s interests, and, most importantly, long-term planning.” We have already implemented Huawei’s award-winning storage technology in South Africa, Lesotho, Eswatini, Malawi, and Zambia,” he added.
In an address during the conference, Group CEO of Standard Bank PPB Funeka Montjane stated that the MOU marked the “beginning of the journey of excellence and growing our business together, but the kind of business that makes people’s lives better”.
Montjane stated that working with Huawei will not only assist their systems satisfy client demands, but will also improve society. For example, the collaboration can improve Standard Bank’s digital crowdfunding platform, which connects students from rural areas “who would not have had the opportunity to study without access to that funding.” She emphasized that it is an important collaboration since “technology connects people”.
Huawei uses leading innovative technology and substantial knowledge to help clients flourish through open engagement with financial institutions and ecosystem partners, and we are constantly searching for new ways to add value to our customers.
By the end of August 2024, Huawei had served over 3,700 financial customers from more than 80 countries and regions, including 53 of the world’s top 100 banks. Huawei had also formed strategic alliances with over 80 major banks, insurers, and securities firms throughout the world, establishing itself as a trusted partner in digital transformation.
