151 Amidst challenging global economic conditions, central banks assume a pivotal role in navigating economic turbulence and crafting effective monetary policies. Recognizing this imperative, Angola’s central bank embarked on a digital transformation initiative aimed at modernizing its technology infrastructure and harnessing the latest innovations. This strategic endeavor has yielded substantial benefits, bolstering the bank’s capabilities, and agility, and laying the groundwork for future innovation. Armindo Fortes, the IT Director at the National Bank of Angola (BNA), elucidates the rationale behind the project: “While our previous SAP system was groundbreaking for our country’s financial services sector, its outdated nature and extensive customization necessitated a transformative shift. With the invaluable support of our esteemed partners at PwC and SAP, we initiated a project to replace our legacy system and introduce new capabilities vital for the bank’s operations.” As the custodian of Angola’s national currency, regulator of the banking system, and architect of monetary policies, BNA collaborated closely with implementation partners PwC and SAP to ensure the project’s success. Tito Tavares, Director at PwC Angola, delineates the project’s objectives, which include migrating to SAP’s advanced S/4HANA platform to unlock novel business processes, amplify digitalization and automation, and fortify treasury and liquidity for local financial institutions. Moreover, the project delivered robust management reporting capabilities to underpin BNA’s supervisory mandate. The adoption of SAP S/4HANA has engendered a myriad of benefits, encompassing enhanced system performance, streamlined management reporting, and a springboard for introducing new products and services to fortify Angola’s financial landscape. Complementary solutions like SAP BW4/HANA and SAP Ariba are being integrated to propel further enhancements in business processes and data exchange efficiency. BNA stands poised for future growth and innovation. Through effective change management and sustained training endeavors, the bank has prioritized user adoption of the new system, ensuring tangible business outcomes from the implementation. Kholiwe Makhohliso, Managing Director at SAP Southern Africa, underscores the pivotal role of technology adoption in banking operations, accentuating that the National Bank of Angola is primed to augment operational efficiency, curtail costs, and furnish decision-makers with real-time insights. With a roadmap for future innovations, BNA is aptly positioned to harness the dividends of digital transformation in the foreseeable future. You Might Be Interested In Nvidia Set to Unveil AI Chips Compliant with New U.S. Export Rules for China Kim Jong Un impressed with Russian aviation tech Human Antennas Could Revolutionize Energy Generation with 6G Power LocaMos Global AG Blends MarTech and Blockchain to Revolutionize Marketing and Boost Small Businesses WhatsApp launches in-chat payments service for businesses in India US Revokes Export Licenses for Intel, Qualcomm to Sell to Huawei, Citing National Security Concerns