Izwe Loans Zambia PLC (“the Lender”) is licensed with the Bank of Zambia to operate as a financial institution.

1. Acceptance of Salary Advance Loan Agreement
a. This Salary Advance Loan Agreement (“Loan Agreement”) is in addition to, and not in derogation of, the Lender’s USSD Services Terms and Conditions which must be read together herewith.
b. Before applying for a Salary Advance Loan, you should carefully read and understand this Loan Agreement which sets out the terms and conditions which will apply to and govern your Salary Advance Loan.
c. If you do not agree with any of the terms and conditions herein, please select the “no/cancel” option on the USSD loan application menu when prompted and do not proceed with the application.
d. You will be deemed to have read, understood and accepted this Loan Agreement upon selecting the “yes/accept” option on the USSD loan application menu requesting you to confirm that you have read, understood and accepted the Loan Agreement.
e. You hereby waive any and all defences you may have based on the electronic form of this Loan Agreement and the lack of signing by the parties hereto to execute the Loan Agreement.
f. Any amendments to this Loan Agreement must be in writing and signed by both parties.
g. If any term or provision in this Loan Agreement is held to be illegal, invalid or unenforceable, in whole or part, under any enactment or rule of law, such term or provision or part shall to that extent be deemed not to form part of this Loan Agreement but the validity and enforceability of the remainder of the agreement shall not be affected.

2. Borrower’s Declaration and Authorisation
a. You hereby warrant and represent that:
– the information you have provided in support of your Salary Advance Loan application is true and correct;
– the amounts payable by you as per the Payment Schedule and the selected payment options shall either be deducted from your bank account via DDAC or direct payment by yourself into the Lender’s designated bank account or Mobile Money Account and you acknowledge that you shall not cancel the DDAC deduction until all amounts owing to the Lender on account of the loan have been repaid in full;
– should your employment with your current employer be terminated for any reason during the duration of this Loan Agreement, you will provide details of your new employer or the status of your employment to the Lender in writing within 7 (seven) days of such change in employment;
– you have considered the amounts repayable by yourself as per the Payment Schedule and Key Fact Statement and you confirm that you have sufficient means to support yourself and your dependents after meeting all of your debt obligations.
b. By accepting this Loan Agreement, you are accepting that the Lender may conduct any “Know Your Customer” due diligence, identity confirmation, fraud and credit checks which it deems necessary on you and for this purpose the Lender may verify and/or seek confirmation of any details which you provide in support of the loan application from any third party, including any licensed Credit Reference Bureau in accordance with applicable laws.
c. You hereby consent and give the Lender permission to:
– use the same personal details that you have previously availed to the Lender in respect of any other loan for the Lender’s use in processing the Salary Advance Loan application;
– submit information on your credit transactions with the Lender to any licensed Credit Reference Bureau;
– report to the relevant authorities the details of any fraudulent activities concluded or attempted relating to this Loan Agreement;
– assign, without your consent or notice, its rights in terms of this Loan Agreement to any party that the Lender may nominate at its sole discretion;
– disclose confidential information about you in the event that:
(i) the Lender is legally compelled to do so;
(ii) the Lender is required to do so in enforcing its rights in terms of this Loan Agreement; and/or
(iii) you have requested and/or consented to disclosure.

3. Salary Advance Loan
a. The Salary Advance Loan is available to existing clients of the Lender with a current active loan in good standing (the “Primary Loan”).
b. You have applied for a Salary Advance Loan by way of electronic application via the Lender’s USSD channel.
c. In the event that your application for a Salary Advance Loan is accepted, you will be provided with a quotation in the form of a Payment Schedule and Key Fact Statement setting out the proposed terms applicable to the Salary Advance Loan, including but not limited to the loan amount, loan tenor, repayment terms, fees and interest rate payable.
d. Interest charged on the loan will be calculated at the applicable interest rate reflected in the Payment Schedule, capitalised monthly over the repayment period and debited on the last day of the month. Should you fail to pay any amount which is due or should the Lender grant an extension for repayment, interest calculated at the applicable interest rate will be charged on such unpaid amounts from the date they become due until paid in full in the same manner as aforesaid.
e. Should you accept the terms of the Payment Schedule and the Key Fact Statement, you will indicate your intention to do so by selecting the “accept” option when prompted on the USSD menu, in which event the Payment Schedule and Key Fact Statement will become binding between you and the Lender. The Payment Schedule and Key Fact Statement must be read as part of this Loan Agreement.
f. You will have the option to select which mode of payment would be applicable to you for purposes of repayment of the Salary Advance Loan from the options stated below:
– Mobile Money Collection;
– Bank deposits – Funds shall be deposited into the Lender’s nominated bank account;
– DDAC on your bank account.
g. Any cash payments or bank deposits must be made to the Lender’s nominated bank account. Payments made in cash or otherwise to any other account, third party or employee of the Lender shall not constitute payment for the purposes of this Loan Agreement and the Lender shall not take any responsibility for any payments so made.
h. Notwithstanding the mode of repayment selected above, you will remain solely responsible for ensuring that the loan repayments are received by the Lender by the due dates per the Payment Schedule. You hereby give authorisation and consent to the Lender to draw against your Bank Account (as defined in the loan agreement between you and the Lender in relation to the Primary Loan), or any alternate account, any instalment amount which may be owing by you to the Lender under this Loan Agreement by direct debit on the strength of the direct debit debt instruction / authorisation provided by you in relation to the Primary Loan.
i. You hereby further consent that the Lender may exercises its option to deduct any instalment amount which may be owing by you to the Lender under this Loan Agreement from your salary where you fail to meet your repayment obligations via the selected method on the strength of the salary stop order / payment instruction to your employer for salary deductions in relation to the Primary Loan.
j. Repayments will be used to offset or settle any legal and collection costs first and thereafter be applied to reducing or settling any interest on arrears and/or interest and then the fees and insurance premiums (if applicable) due and lastly to reduce or settle the balance of the outstanding principal amount of the loan.

4. Early Settlement
a. You acknowledge that a Salary Advance Loan is granted to you on the basis of your existing relationship with the Lender and is linked to your Primary Loan.
b. You hereby agree that you will be required to make full repayment of your Primary Loan before being entitled to make any early settlements on the Salary Advance Loan.
c. Any additional payments or early settlements made on the Salary Advance Loan whilst your Primary Loan is still active will be allocated to the repayment of the Primary Loan.

5. Default
a. Should you fail to pay any instalment by the due date as per the Repayment Schedule, the Lender will be entitled to terminate the loan with immediate effect, in which event the whole unpaid Salary Advance Loan balance together with all accrued charges, fees and interest shall, at the Lender’s option, become immediately due and payable.
b. Under no circumstances may you withhold any repayment by reason of any alleged breach, counterclaim or any other reason whatsoever. In the event of a dispute, you shall be obliged to continue with all repayments until such time as the dispute is resolved.
c. The Lender reserves the right to recover any legal and collection costs incurred by it in the recovery of any outstanding amounts or the enforcement of any rights which it has under this Loan Agreement.
d. A certificate signed by the Lender shall be
(i) prima facie proof of the quantum of the amount owing by you under this Loan Agreement from time to time; and
(ii) valid, together herewith, for any purpose and as a liquid document (alternatively, as proof of a liquidated amount) and you acknowledge your indebtedness in respect of any amount so certified

6. Governing law and Dispute Resolution
a. This Loan Agreement is governed by and construed in accordance with the laws of Zambia.
b. You may contact the Lender through the Izwe Customer Care Contact Centre on +260630373050 or by email to info@izwezambia.com to report any complaint or dispute arising out of or in connection with this Loan Agreement.
c. Any dispute which cannot be resolved by the Izwe Customer Care Contact Centre shall be submitted to a single arbitrator and decided in terms of the Arbitration Act, Chapter 40 of the Laws of Zambia, which arbitration shall be conducted at Lusaka and the language of the arbitration shall be in English.
d. The above provisions shall not prohibit or restrict any party from applying for any urgent or mandatory relief from any court of competent jurisdiction.
e. The Lender may send notices to you concerning the Loan Agreement via SMS, in writing by email, hand-delivery or by post to the last address provided by you.