Rns out3 Jul 2020 08:09
NS Number : 9179R
Catenae Innovation PLC
03 July 2020
3 July 2020
Catenae Innovation PLC
("Catenae", the "Company" or the "Group")
Commercial Pilot Agreement with Afrik-ID
Catenae Innovation PLC (AIM: CTEA), the AIM quoted provider of digital media and technology announces that it has entered into a pilot agreement with Afrik-ID (Pty) Ltd ("Afrik") to establish the commercial viability of the Company's technology products in Botswana and across the Southern African Development Community (SADC). Afrik is a newly incorporated company in Botswana, wholly owned by David John Newman, the former Botswanan ambassador to USA, Canada and the Caribbean.
Based on the use of Catenae's secure blockchain-based identity technology, Afrik-ID's potential service offerings could enable organisations, businesses and individuals to share certification and identity information via mobile phones in a secure manner. Afrik-ID's solutions could be deployed in a variety of sectors including construction, logistics, mining, sports, healthcare, human rights services, law-enforcement and travel and tourism.
Under the terms of the pilot agreement, Catenae will provide Afrik-ID with its proprietary Onsite ID and Cov-ID applications for use in Afrik-ID's sales and marketing initiative for a duration of four months. During this period, the two companies will work closely together, with Afrik-ID seeking to leverage its network and the Company's technologies across the SADC region.
Following the completion of the pilot at the end of October 2020, which is not expected to generate any revenues for the Company, a market analysis review will be undertaken to ascertain the commercial viability of deploying the Company's technologies across the region via Afrik-ID. Should this be favourable, the Company will seek to enter into a commercial arrangement with Afrik-ID.
Guy Meyer, Interim Chief Executive Officer of Catenae, said: "We are pleased to have entered into this pilot agreement with Afrik-ID as we see potential for the use of our technologies across the wider SADC region, a community comprising of 16 member states with a combined population of over 345 million people, especially as it is seen that Africa is a highly mobile enabled continent.
"We have every confidence in the leadership team at Afrik-ID. Having worked with them over the last few months scoping this pilot we have obtained insight into the scale of the challenges that the region faces, most latterly due to the COVID-19 pandemic, along with the associated opportunities.
"The Company looks forward to informing the market of further developments with regards the Afrik-ID commercial pilot."
David Newman, Chairman and Chief Executive Officer of Afrik-ID said:
"Our team at Afrik-ID is delighted to be working in collaboration with Catenae to provide digital technology solutions for the challenges that hamper the safe, efficient and transparent movement of people and goo
Sign In
Follow the stocks
