Standard Bank has partnered with internet service provider WebAfrica to expand the provision of high-speed internet and access to financial services to its customers.
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, the bank said. It added that the partnership will come into effect during the first quarter of 2022.
Standard Bank said it has been investing in South Africa’s fibre for several years, helping fibre infrastructure and internet service providers to scale to keep up with burgeoning demand. The group said that there has been a significant uptick in demand driven by the Covid-19 pandemic and working from home.
“The pandemic has made the need for high-speed internet access more urgent than ever before,” said Margaret Nienaber, chief executive of client solutions at Standard Bank. “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, said the ISP’s chief executive 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 financial security.”
Standard Bank and Webafrica said that they will be working together to offer additional products and services under the partnership, which will be announced at later date.