Blockbonds signs agreement in an additional African market

 

Blockbonds is pleased to announce a signed partnership with Cavmont Bank Ltd, aiming to launch the product

SPENN in Zambia during 2019. SPENN is a cost-free mobile banking app, powered by Cavmont Bank Ltd, covering both personal and business accounts, accessible through a smartphone.

Mr. Jens Glaso, CEO of Blockbonds and SPENN, is proud to have entered this agreement with Cavmont bank Ltd in a promising African market.

“Our mission is to give everyone equal financial opportunities through innovative technology. This agreement is a strong, positive signal for our product, which is already successfully launched in two other African markets. It is also a big step towards our longterm goal”, Mr. Glaso said.

Through the SPENN mobile banking app, anyone can open a bank account and experience its services cost-free. Every user can perform money transfers, payments in stores, and cashout and deposit money at any Cavmont Bank Ltd branch throughout Zambia.

SPENN offers a cost-free business account, including a simple and easy to use point-of-sale solution for anyone selling goods and services.

Anyone holding a smartphone can instantly register with SPENN. The registration requires only phone number, name and ID documentation.

Mr. Peet van der Walt, interim MD/CEO of Cavmont Bank Ltd is eager to position the bank as the pioneer in product offerings, bringing innovation to the Zambian population.

“We truly believe that SPENN is the solution to meet current and future expectations from our customers. We believe in pioneering innovation to serve both our customers as well as the general population of Zambia. We will change the way Zambians transact with each other to make it more secure, more convenient and cost-free. We are positive that SPENN is the solution the people of Zambia need”, Mr. van der Walt said.

With a population of nearly 18 million people, and a high degree of smartphone penetration, Zambia is an emerging market expecting a high rate of adoption for the product SPENN. Rollout of SPENN in Zambia is subject to regulatory approval.

 

About Blockbonds AS

Blockbonds is a Norwegian Fintech company and has developed the product SPENN, an advanced Mobile Banking App utilizing blockchain technology with a clear purpose: Make the world financially connected by uniting the banked with the unbanked population.

It is estimated that two billion people worldwide do not have access or use formal financial services. 73% of the poorest population are unbanked because of costs related to setting up services, travel distances and the often-burdensome requirements involved in opening a bank account. SPENN is the solution for everyone to be a part of the cashless economy, enabling them to transact money instantly and communicate financially, cost-free.

 

About Cavmont Bank Ltd

Cavmont Bank Ltd (CBL) is a Registered Commercial bank in Zambia with more than 50,000 clients and 240 employees. Cavmont Bank Ltd has 19 branches located in Lusaka (6), Chingola, Ndola, Kitwe (2), Chililabombwe, Mbala, Mpulungu, Solwezi, Chipata, Kasama, Mansa, Mwense and Mufumbwe.