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KBA Inks Deal with Huawei to Deepen Financial Inclusion In the Banking Sector

The Kenya Bankers Association,KBA has inked a deal with Huawei Kenya to expand ICT services in the banking sector and enhance financial inclusion. This is in line with the KBA Strategic Plan for the period 2020 to 2023.

Under the agreement, the two will collaborate in building capacity to promote knowledge on fintech innovation, digital transformation, and other ICT-related programmes within the Kenyan banking industry.

KBA Chief Executive Officer Dr. Habil Olaka said the cooperation would go a long way in promoting the delivery of efficient banking services in Kenya through knowledge sharing programmes that will be organized by the two institutions.

“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,’’ Dr. Olaka added.

Huawei Kenya Chief Executive Officer Will Meng expects the partnership to further boost conviniency in delivery of financial services following the disruptions caused by COVID-19 pandemic.

The two firms are scheduled to hold an Online FSI Summit at the end of the month.

‘’The theme of the upcoming summit is ‘’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,’’ said Meng.

On his part, Dr Olaka added, “Beyond the COVID-19 disruptions, we see technology as an invaluable enabler of financial inclusion,’’.