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Kenya Bankers Association and Huawei strike deal to bolster tech-driven financial inclusion

Kenya Bankers Association (KBA) has struck a deal with tech-firm Huawei Kenya that is aimed at deepening financial inclusion in the banking sector through by deploying technology and improving fintech capacity.

Via this partnership, KBA will work closely with Huawei-Kenya to facilitate industrywide capacity building initiatives to promote knowledge on financial technology innovation, Digital Transformation, and other ICT-related programmes in the banking industry.

Photo Credit: Business Traffic

This agreement will also see KBA and Huawei work in line with the KBA's Strategic Plan for 2020 to 2023 to bolster financial inclusion activities.

Dr Habil Olaka, CEO, KBA, had this to say:

“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.”

Meanwhile, Will Meng, CEO, Huawei Kenya, welcoming the partnership, said technology will remain a core driver for convenient access to financial services even in times of disruptive occurrences such as the current Coronavirus pandemic.

Kenya In Focus:

Population: 52.6 million (Compared to South Africa's 59.6 million)

GDP: $95.5 billion (Compared to South Africa's $369.85 billion)

GDP Per Capita: $1,750 (Compared to South Africa's $6,193)