Untu Capital, a microlender in Zimbabwe, is looking to raise up to USD 1 million to support its lending to micro-, small and medium-sized enterprises by selling “U-Gain” bonds in increments of USD 50. Individuals may buy the bonds on Zimbabwe’s Financial Securities Exchange (FINSEC) via EcoCash, the mobile money service of South Africa’s Econet Group. Although the bonds have a term of one year, bondholders may re-sell the securities before maturity via FINSEC.
Untu offers enterprise loans of USD 500 to USD 100,000 with terms of up to two years. No collateral is required for loans up to USD 5,000. In addition to loans, the institution offers business training.
Econet is a privately held firm with technology and media holdings worldwide.
Sources and Additional Resources
Telecompaper article
https://www.telecompaper.com/news/ecocash-sells-micro-finance-bonds-from-untu-capital–1227424
EcoCash
https://www.ecocash.co.zw/
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at http://www.microcapital.org/products-page/.
Similar Posts:
- MICROFINANCE EVENT: Asia Pacific Microfinance Forum; October 17-18, 2023; Kuala Lumpur, Malaysia
- MICROCAPITAL BRIEF: UN, EU Supporting SMEs Involved in Fisheries in Cambodia via Capfish-Capture Program
- MICROCAPITAL BRIEF: I&M Bank Enables Spenn Mobile App Users to Send Money to Financial Institutions Across Rwanda
- MICROCAPITAL BRIEF: Semaai Raises Equity from Accion, XA Network, Beenext, Surge for Technology Supporting Farmers, Agricultural MSMEs in Indonesia
- MICROCAPITAL BRIEF: Pro Mujer Borrows $2m from Aequitas Impact Fund to Uplift Women-owned Businesses in Nicaragua
