Feb 6, 2023

Preparing for market entry in Sierra Leone

SPENN has entered a Memorandum of Understanding (MoU) with key players in Sierra Leone to establish the company SPENN Sierra Leone Limited.

Investor News 3/23

SPENN Technology A/S will be the majority owner of SPENN Sierra Leone Limited.

“The focus of the new company will be to handle disbursements for governmental agencies, based on the Naseni SPENN model in Nigeria. SPENN Sierra Leone will seek partnership with agencies responsible for social intervention, manufacturing, agriculture, pension payouts and government employees,” says Jens Glaso, CEO of SPENN Technology. He was recently in Sierra Leone to sign the MoU.

Glaso met with President of Sierra Leone, Julius Maada Bio, who expressed interest in the SPENN model for disbursements.

“The president was very interested in understanding how SPENN will increase digitalization of the financial sector. SPENN will also improve access to credit, which is a priority for the government as it will contribute to economic growth in Sierra Leone. Based on positive feedback, we have found partners to set up a business in Sierra Leone. We are very keen to get started in this new market for SPENN Technology,” says Glaso.

For further Information, please contact:
Jens B. Glaso, CEO SPENN Technology A/S. Phone +47 40 40 47 50, e-mail: [email protected]
Certified Adviser: Baker Tilly Corporate Finance P/S, Att.: Gert Mortensen, Partner. Phone: +45 33 45 10 00, www.bakertilly.dk

SPENN Technology A/S
CVR nr.: 26518199
Njalsgade 76, 4.
2300 København S
Tel: +45 8830 0000
www.spenn.com

About SPENN Technology A/S

In a world where 1.7 billion people are still unbanked, SPENN Technology has democratized access to financial markets by bridging the crypto sphere with traditional finance. By utilizing blockchain technology Blockbonds has created a robust real-time payment system in which everyone can manage their savings, payments, investments and loans in an honest, transparent and secure way through the SPENN App platform. Although SPENN Technology A/S is a purpose-driven company with our vision to empower people, we are also a commercial player that always strives to develop new services for our customers.

The SPENN app is an innovative and unique digital banking platform for the unbanked as well as the banked to be able to send and receive money completely cost-free, in markets where the cost of financial services is the highest in the world. SPENN is disrupting the existing mobile payment distribution channels. SPENN has recently launched new integrated services in the platform and expects to launch more crypto services going forward.

SPENN is a technology provider to banks and governments based on a Software as a Service (SaaS) solution and has grown to become a key partner for their bank partners to drive deposits and to stay in front of innovation. SPENN is helping governments regulate the unregulated utilizing new technology and visionary ideas which have ultimately solved the biggest issue within financial inclusion.

SPENN Technology A/S is listed on the Nasdaq First North Growth Market Denmark. Ticker code: SPENN

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