In the face of challenging global economic conditions, the role of central banks has become increasingly crucial in navigating economic headwinds and formulating effective monetary policies.
Angola’s central bank initiated a digital transformation project to modernize its technology infrastructure and leverage the latest innovations. This endeavor has resulted in substantial benefits, boosting the bank’s capabilities, agility, and laying the groundwork for future innovation.
Armindo Fortes, IT Director at the National Bank of Angola (BNA), explains, “While our previous SAP system was groundbreaking for our country’s financial services sector, its outdated nature and extensive customization necessitated a change. With the support of our valued partners at PwC and SAP, we undertook a project to replace our legacy system and introduce new capabilities crucial for the bank’s operations.”
As the institution responsible for issuing and managing Angola’s national currency, overseeing the banking system, and shaping monetary policies, BNA collaborated closely with implementation partner PwC and SAP to ensure the success of the project.
Tito Tavares, Director at PwC Angola, highlights the project’s objectives, stating, “Our team identified key opportunities for digital transformation, including migrating to SAP’s advanced S/4HANA platform to unlock new business processes and enhance digitalization and automation. Additionally, the Cash Management solution was upgraded to align with Stock Room Management capabilities, fortifying treasury and liquidity for local financial institutions. The project also delivered robust management reporting capabilities to support BNA’s supervisory role.”
The implementation of SAP S/4HANA has yielded various benefits, including enhanced system performance, streamlined management reporting, and a foundation for launching new products and services to bolster Angola’s financial system. Fortes notes that additional solutions, such as SAP BW4/HANA and SAP Ariba, are already being integrated, driving further improvements in business processes and data exchange efficiency.
BNA is poised for future growth and innovation. Through effective change management and continuous training initiatives, user adoption of the new system has been prioritized, ensuring that the implementation translates into tangible business outcomes.
Kholiwe Makhohliso, Managing Director at SAP Southern Africa, emphasizes the significance of technology adoption in banking operations, stating, “By embracing SAP’s latest innovations, the National Bank of Angola is poised to enhance operational efficiency, lower costs, and provide decision-makers with real-time insights. With a roadmap for future innovations, BNA is well-positioned to harness the benefits of digital transformation in the years ahead.”