Standard Bank has partnered with internet service provider Webafrica to expand the provision of high-speed internet and access to financial services for its customers.
The partnership, which will come into effect during the first quarter of 2022, will allow Standard Bank to meet a wider array of client needs, deepen customer relationships, and fulfil its purpose of driving Africa’s growth and uplifting its people.
The initial focus of the partnership will be on making high-speed internet access available to Standard Bank customers and making the Standard Bank flexible funeral product accessible to the Webafrica customer base.
“This partnership forms part of our 2025 Ambition to become a client-centric, digitally enabled platform business,” says Margaret Nienaber, Chief Executive Officer of Client Solutions at Standard Bank Group.
“It embodies our belief that prioritising innovation and reinvention, driving digitisation, and investing in partnerships that enhance our current capabilities are essential to our clients in addressing their needs. In Webafrica, we have found a partner that shares our vision for a connected and resilient future.”
Standard Bank has been investing in South Africa’s fibre journey for several years, helping fibre infrastructure and internet service providers to scale in order to keep up with burgeoning demand. Fibre access has been a game-changer for the South African economy, ushering in an era of cheaper, faster and more reliable internet connectivity. During Covid-19, this access has been nothing short of critical to both lives and livelihoods.
“During the COVID-19 pandemic we have rediscovered the value of real human connections – be it with family, friends, communities and colleagues. It has also reaffirmed that digital technology has the innate ability to bring us closer together – to be more human and connected, not less. The pandemic has made the need for high-speed internet access more urgent than ever before,” says Nienaber.
“At the same time, however, consumers are under enormous financial pressure. Internet solutions have to be cost-effective if they are to provide meaningful support.”
“This partnership represents an immense opportunity for Webafrica,” says Webafrica CEO Sean Nourse. “We are excited about the ways in which we will be able to better serve our rapidly growing consumer base, not only with high-quality, cost-effective internet solutions, but also with the essential financial services solutions, supporting their financially security.”
This is just the beginning. Standard Bank and Webafrica are working together to offer additional products and services under the partnership. These will be designed to meet not only consumers’ individual needs, but those of an ever-changing, ever-competitive world.