SPENN Technology and NHIMA Partnership: A Leap Forward in Financial and Healthcare Inclusion in Zambia
SPENN Technology, a pioneer in fintech solutions across Africa, is thrilled to announce its strategic partnership with the National Health Insurance Management Authority (NHIMA) of Zambia. This collaboration is not just a milestone in healthcare accessibility but also a significant boost to the value proposition for SPENN Technology.
Investor News 16/23
The integration of SPENN's payment system with NHIMA's insurance premium collection opens a new revenue stream for SPENN. Every transaction made for NHIMA premiums via the SPENN platform will contribute to our financial growth. This transaction-based revenue model is expected to boost our income, given the large number of NHIMA users.
Furthermore, the visibility gained through this partnership enhances SPENN's brand recognition, potentially attracting new users beyond NHIMA's clientele. The increased user base is likely to lead to higher transaction volumes across our platform and paves the way for similar collaborations with other governmental and private entities.
This Governmental partnership in Zambia marks a major milestone, reinforcing our market presence. This collaboration is a testament to the government's trust in our fintech expertise, enhancing our credibility and expanding our influence in the region.
Phase 1 of the Partnership will enable Zambian citizens to pay their health insurance premiums through NHIMA's website and mobile application using SPENN, marking a step forward in digital financial inclusion. Phase 2 will further enhance this convenience by allowing SPENN users to directly pay their NHIMA premiums within the SPENN app. This integration is set to expand SPENN's market reach significantly, tapping into NHIMA's extensive user base.
Operational efficiencies are expected as the digitization of premium collections through SPENN will reduce NHIMA's costs associated with manual processing. This efficiency not only benefits NHIMA but also enhances service quality for users.
By bringing together SPENN's innovative digital financial platform with NHIMA's robust healthcare financing system, we are paving the way for a healthier, more financially empowered Zambia. We are dedicated to breaking down barriers, ensuring that quality healthcare is a right, not a privilege, for every Zambian citizen.
About NHIMA
As of 2021, the National Health Insurance Management Authority (NHIMA) in Zambia had registered one million principal members on its health insurance scheme. This number includes members from the public sector, private sector, and ordinary citizens, encompassing the elderly and physically challenged.
For media inquiries or further information, please contact:
Jens B. Glaso, CEO SPENN Technology A/S. Phone +47 40 40 47 50
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 and on OTCQX in USA.
Ticker codes:
Europe – Nasdaq First North: SPENN
USA – OTCQX: SPNNF
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