During MWC2023, Ooredoo Group signed a partnership agreement with Huawei to leverage Huawei Mobile Fintech platform to provide Fintech services in markets covered by Ooredoo. Under the agreement, the two entities will work together to enable Ooredoo to provide state-of-the-art, mobile-first, financial services on Huawei’s platform for both consumers and merchants.
Aziz Aluthman Fakhroo, Managing Director and Group CEO of Ooredoo Group, said: “A key pillar of our strategy is evolving our core, and this includes identifying new use cases and exploring new businesses in our immediate industry adjacency such as Fintech, where Ooredoo has already established successful operations in our home market of Qatar. Our plan in 2023 is to evolve our Fintech marketplace to other markets within our footprint, enabling us to simplify everyday financial transactions and drive financial inclusion. This new partnership agreement with Huawei will solidly underpin our efforts in this field.”
Li Peng, President of Carrier BG at Huawei said: “This agreement is an important step forward to foster our long-term strategic partnership with Ooredoo. Huawei is committed to providing industry-leading technology with purpose that will ensure the realization of this project and help Ooredoo achieve business success.”
Headquartered in Qatar, Ooredoo is a leading global mobile network operator. In addition to telecommunications services, Ooredoo has a leading position in the Middle East and North Africa (MENA) Fintech market. According to a GSMA study, Ooredoo has a share of about 35% of the transaction value in Mobile Money in the MENA region.
Huawei is a global industry leader in fintech and mobile finance services with innovative solutions that serve more than 400 million users worldwide. The MFS platform provided by Huawei has been named an established leader from the global advisory and research firm Juniper Research.
Huawei Technologies Co., Ltd. is a Chinese multinational technology corporation headquartered in Shenzhen, Guangdong province, that designs, develops, manufactures and sells telecommunications equipment, consumer electronics, smart devices and various rooftop solar power products.
The corporation was founded in 1987 by Ren Zhengfei, a former officer in the People’s Liberation Army (PLA). Initially focused on manufacturing phone switches, Huawei has expanded its business to include building telecommunications networks, providing operational and consulting services and equipment to enterprises inside and outside of China, and manufacturing communications devices for the consumer market.