Nov 18, 2021

Signed agreement with Zambia National Marketers Credit Association (Zanamaca)

This announcement includes inside information of the signing of the agreement between SPENN Technology and Zanamaca.

Company Announcement 71

SPENN Technology A/S subsidiary SPENN Zambia Ltd has signed an agreement with The Zambia National Marketers Credit Association (Zanamaca) for the inclusion of Zanamaca’s six million members on the SPENN platform.

SPENN Technology A/S has previously disclosed to the market the signing of an MoU between the parties (Company Announcement No. 60).

The signed agreement states that “Zanamaca shall ensure that more than six million people including Zanamaca’s members are registered on the SPENN Platform, while SPENN shall assist Zanamaca in registering these members on the TPIN Zambia Revenue Authority Platform for the purpose of payment of Base Tax and Social Security contribution under Zambia Revenue Authority and National Pension Scheme Authority respectively.”

The agreement represents a milestone deal for SPENN, which currently has north of 450,000 users in Zambia.

 “A Zanamaca deal allows SPENN to accelerate roll-out in Zambia and multiply the number of users within a short period of time,” says Jens Glaso, CEO of SPENN Technology A/S.

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

For more information, please contact:
Jens Glaso, CEO of SPENN Technology A/S, Phone +47 404 04 750, 
Certified Advisor: Baker Tilly Corporate Finance P/S, Att: Gert Mortensen, Partner, Phone: +45 33 45 10 00,

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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