SPENN, a financial technology company with a cost-free mobile banking application powered by I&M Bank, has signed a partnership deal with Espoir Basketball Club valued at Rwf15 million to promote digital payments.

The one-year agreement will be implemented in the 2020/21 season with a possibility to extend the partnership in the future.

SPENN has the mandate to promote financial inclusion, by connecting the banked the unbanked population in Rwanda.

Participants at the signing in ceremony at Amahoro stadium.

Transactions that can be performed on the platform include sending and receiving money, opening a savings account with annual interest, performing global airtime purchases, bills payments, paying in-store and many more according to Norbert Haguma, the Country Manager of SPENN Rwanda.

Haguma added that SPENN also allows businesses to perform bulk payroll via SPENN Business and facilitates online payments via the SPENN e-commerce payment solution known as SPENN Connect.

He further revealed that the partnership with ESPOIR Basketball club will encourage all fans to explore the benefits of SPENN.

"Each time a fan is fully registered on SPENN, when using the referral code "espoir”, Rwf500 is contributed to ESPOIR Basketball club. This is also an opportunity for ESPOIR Club fans to show how powerful the ESPOIR brand is. It is also a big step in the direction of the country’s vision to monetize and support professional sports,” he said.

Under the agreement, he noted, at least 20,000 fans for ESPOIR Basketball club will register in SPENN.

Pascale Mugwaneza, the vice president of Rwanda Basketball Federation, speaks during the event.

"The club has leadership and fans. We hope it will have more fans,” he said.

Norbert Mwanangu, the General Manager-Retail Banking and Digital Experience at I&M Bank Rwanda Plc said that the Bank values cashless solutions saying that SPENN amongst the best solutions not only for their customers but also anyone in the market looking for convenience.

SPENN was launched in partnership with I&M Bank Rwanda Plc in 2018 and currently has more than 300,000 clients registered on the platform and is so far available in four countries across the globe.

"The Bank’s partnership with SPENN will ensure continued offerings of simplified banking solutions and we are looking into preparations of business offers for SPENN users,” he said.

Albert Tuyishime, the Vice President of ESPOIR Basketball club said that the club has 60 years of experience and will play a big role in marketing the SPENN product.

"We have platforms for our fans and we hope they will be even better organized. The one-year partnership with SPENN is the first step towards a sustainable partnership,” he said.

He said that the partnership will also improve working conditions for players in competitions as the club gains more financial support thanks to the partnership.

The Vice-President of Rwanda Basketball Federation, Pascale Mugwaneza commended ESPOIR Club efforts in basketball development in Rwanda especially in raising youth’s talents.

She said that the partnership between the club and SPENN is one of the ways to build the financial capacities of clubs in Rwanda.