Ooredoo Group has signed a partnership agreement with Huawei to leverage Huawei Mobile Fintech platform to provide Fintech services in markets across the company’s footprint. Under the agreement, the two entities will cooperate for Ooredoo to provide state-of the art, mobile-first financial services on Huawei’s platform for both consumers and merchants in Ooredoo’s markets.
Ooredoo has already a strong position in Fintech in Qatar that represents a 35% market share of the overall mobile money transaction value in the MENA region, based on a 2022 GSMA study for the MENA market. The new cooperation with Huawei will further enhance Ooredoo’s market role in this region and improve the competitiveness in this industry.
Huawei is an industry leader with innovative Fintech, MFS solutions serving more than 400 million mobile finance users globally. Its MFS platform has been named an established leader in the Digital Money Transfer and Remittances Platform Providers Leaderboard by global advisory and research firm Juniper Research.
Aziz Aluthman Fakhroo, Managing Director and Group CEO at 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 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 realisation of this project and help Ooredoo achieve business success.”