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Terms & Conditions

TERMS AND CONDITIONS FOR THE OPENING AND USE OF THE MOMBO APPLICATION ACCOUNT



1. THE AGREEMENT

    1.1 This Agreement sets out the complete Terms and Conditions (hereinafter called "these Terms and Conditions") which shall be applicable to the MOMBO APP (as hereinafter defined) opened by you (as hereinafter defined) with the Company (as hereinafter defined).
    1.2 These Terms and Conditions and any amendments or variations thereto take effect on their date of publication.


2. DEFINITIONS

    2.1 In these Terms and Conditions the following words and expressions (save where the context requires otherwise) bear the following meanings:
      2.1.1 “Mombo App” means a mobile and web application account opened and maintained by a customer for purposes of accessing the Company’s service;
      2.1.2 “Mombo Group” means a Limited company incorporated in Kenya as a limited liability company under the Companies Act (Chapter 486 of the Laws of Kenya) herein referred to as “the Company” which owns Mombo App. And acts as an intermediary for the partners’ transactions.
      2.1.3 “Customer” means the person in whose name a Mombo App account is opened and maintained for the purposes of accessing the Company’s services ;
      2.1.4 “E-Money” means the electronic monetary value depicted in your Mombo App Account representing an equal amount of cash;
      2.1.5 “Equipment” includes your mobile phone, laptop, computer, tablet and/or other equipment which when used together enables you to access the Network;
      2.1.6 “IPRS” means the Integrated Population Registration System set up and maintained by the Government of Kenya under the Ministry of State for Immigration and Registration of Persons;
      2.1.7 “Mombo App Menu” means the Mobile App Menu on the System;
      2.1.8 “Mombo App Account” means your mobile money store of value, being the record maintained by Mombo Group of the amount of E-Money from time to time held by you in the System;
      2.1.9 “Service charge” means the percentage to be charged by the partners in provision of various services, which will be catered for by the client;
      2.1.10 “Mombo App Service” means the money lending, savings and investing service provided by Mombo Group through the System on behalf of its partners;
      2.1.11 “Mombo System” means the system operated by Mombo Group for the provision of the Mombo App Services;
      2.1.12 "Mombo App PIN" means the unique code or identification or electronic in order to access your Mombo App Account;
      2.1.13 “Mombo App Subscriber” means any person who voluntarily registers to use the Mombo App;
      2.1.14 “Network” means the mobile cellular network operated by Network service providers in Kenya and the internet;
      2.1.15 “Request” means a loan request, earnings withdrawal, membership withdrawal or membership request received by Mombo Group from you or purportedly from you through the Network and the System and upon which the Mombo Group is authorized to act;
      2.1.16 “Services” shall include any form of online services or products that the App may offer you pursuant to this Agreement and as you may from time to time subscribe to and “Service” shall be construed accordingly;
      2.1.17 “SIM Card” means the subscriber identity module which when used with the appropriate mobile phone handset enables you to access the Network and to use the Mombo App System;
      2.1.18 “SMS” means a short message service consisting of a text message transmitted from one mobile phone to another;
      2.1.19 “System” means the App’s electronic communications software enabling the Customer to communicate with Mombo Group for purposes of the Services. The System and the Services will for the purpose of this Agreement be accessed through the Mombo App System;
      2.1.20 “We,” “our,” and “us,” means the Company and includes the successors and assigns of the Company;
      2.1.21 "You" or "your" means the Customer and includes the personal representatives of the Customer;
      2.1.22 “Partners” refers to other corporate entities that have partnered/outsourced/consulted with Mombo Group for their services to be offered through Mombo App.
    2.2 The word “Customer” shall include both the masculine and the feminine gender as well as juristic persons;
    2.3 Words importing the singular meaning where the context so admits include the plural meaning and vice versa.
    2.4 Headings in these Terms and Conditions are for convenience purposes only and they do not affect the interpretation of this Agreement.


3. ACCEPTANCE OF THE TERMS AND CONDITIONS

    3.1 Before applying to open the Mombo App Account via the Mombo App you should carefully read and understand these Terms and Conditions which will govern the use and operation of the Mombo App Account.
    3.2 If you do not agree with these Terms and Conditions, please click “Decline” on the Mombo App Menu.
    3.3 You will be deemed to have read, understood and accepted these Terms and Conditions:-
      3.3.1 Upon clicking on the “Accept” option on the Mombo App Menu requesting you to confirm that you have read, understood and agreed to abide with these Terms and Conditions; and/or
      3.3.2 By using or continuing to use and operate the Mombo App Account.
    3.4 By applying to open the Mombo App Account, you agree to comply with and be bound by these Terms and Conditions for the time being and from time to time in force governing the operation of the Mombo App Account and you affirm that these Terms and Conditions herein are without prejudice to any right that the Company may have with respect to the Mombo App Account in law or otherwise.
    3.5 These Terms and Conditions may be amended or varied by the Company from time to time and the continued use of your Mombo App Account constitutes your agreement to be bound by the terms of any such amendment or variation.
    3.6 You acknowledge and accept that the Company offers the Mombo App only electronically and you agree to do business with the Company and to operate the Mombo App Account only by electronic means via the Mombo App Menu on the System. Any query and complaint you may have relating to the Services shall be addressed to the Company. For the avoidance of doubt, you acknowledge and accept that you will not be allowed or entitled to receive or demand the Services pertaining to the Mombo App Account at any Mombo Group office branch or branches of the Company unless otherwise advised by the Company in its sole discretion.
    3.7 That by using the Mombo App, all signatures will be electronic and will be captured using a QR Code. The information to be captured will include: the machine from which the App is accessed from, the person who signed and the time and date when the same was captured.


4. ACCOUNT OPENING

    4.1 You may open a Mombo App Account solely by way of an electronic application made by you using your Equipment via the Mombo App Menu on the Mombo App System.
    4.2 You hereby agree and authorize the Company to request for your personal information including your phone number, name, date of birth, ID or Passport Number and such other information that will enable the Company to identify you and comply with the regulations.
    4.3 You hereby agree and authorize the Bank to obtain and procure your Personal Information contained in the IPRS from the Government of Kenya and you further agree and consent to the disclosure and provision of such Personal Information by the Government of Kenya to the Company.
    4.4 You hereby further acknowledge and authorize the Mombo Group system to verify your Personal Information against the information received from the Government of Kenya in your respect as contained in the IPRS.
    4.5 Mombo Group on behalf of its partners reserves the right to request for further information from you pertaining to your application for a Mombo App Account at any time. Failure to provide such information within the time required by the Company may result in the Company declining to accept your application for a Mombo App Account.
    4.6 Acceptance by the Company of your application for a Mombo App Account shall be done via a text message to the number used during account opening.
    4.7 The Company reserves the right to decline your application for a Mombo App Account or to revoke the same at any stage at the Company’s sole discretion and without assigning any reason or giving any notice thereto.

5. CUSTOMER’S EQUIPMENT AND CUSTOMER’S RESPONSIBILITIES

    5.1 You shall at your own expense provide and maintain in safe and efficient operating order your Equipment necessary for the purpose of accessing the System and the Services.
    5.2 You shall be responsible for ensuring the proper performance of your Equipment. The Company shall neither be responsible for any errors or failures caused by any malfunction of your Equipment, and nor shall the Company be responsible for any computer virus or related problems that may be associated with the use of the System, the Services and the Equipment. You shall be responsible for charges due to any service provider providing you with connection to the Network and the Company shall not be responsible for losses or delays caused by any such service provider.
    5.3 You shall follow all instructions, procedures and terms contained in these Terms and Conditions and any document provided by the Company concerning the use of the System and Services.
    5.4 You agree and acknowledge that you shall be solely responsible for the safekeeping and proper use of your Equipment and for keeping your MOMBO App PIN secret and secure. You shall ensure that your PIN does not become known or come into possession of any unauthorized person. The Company shall not be liable for any disclosure of your MOMBO APP PIN to any third party and you hereby agree to indemnify and hold the Company harmless from any losses resulting from any MOMBO APP PIN disclosure.
    5.5 You shall take all reasonable precautions to detect any unauthorized use of the System and the Services. To that end, you shall ensure that all communications from the Company are examined and checked by you or on your behalf as soon as practicable after receipt by you in such a way that any unauthorized use of and access to the System will be detected.
    5.6 You shall immediately inform the Company in the event that:
      5.6.1 You have reason to believe that your MOMBO APP PIN is or may be known to any person not authorized to know the same and/or has been compromised; and/or
      5.6.2 You have reason to believe that unauthorized use of the Services has or may have occurred or could occur and a transaction may have been fraudulently input or compromised.
    5.7 You shall at all times follow the security procedures notified to you by the Company from time to time or such other procedures as may be applicable to the Services from time to time. You acknowledge that any failure on your part to follow the recommended security procedures may result in a breach of your Mombo App Account’s confidentiality. In particular, you shall ensure that the Services are not used or Requests are not issued or the relevant functions are not performed by anyone other than a person authorized to do so.
    5.8 You shall not at any time operate or use the Services in any manner that may be prejudicial to the Company.


6. EXCLUSION OF LIABILITY

    6.1 The Company shall not be responsible for any loss suffered by you should the Services be interfered with or be unavailable by reason of (a) the failure of any of your Equipment, or (b) any other circumstances whatsoever not within the Company’s control including, without limitation, force majeure or error, interruption, delay or non-availability of the System, terrorist or any enemy action equipment failure, loss of power, adverse weather or atmospheric conditions, and failure of any public or private telecommunications system.
    6.2 The Company will not be liable for any losses or damage suffered by you as a result of or in connection with :-
      6.2.1 Unavailability of sufficient funds in your Mombo App Account;
      6.2.2 Failure, malfunction, interruption or unavailability of the System, your Equipment, the Network, Service and/or System
      6.2.3 The money in your Account being subject to legal process or other encumbrance restricting payments or transfers thereof;
      6.2.4 Your failure to give proper or complete instructions for payments or transfers relating to your Mombo App Account;
      6.2.5 Any fraudulent or illegal use of the Services, the System and/or your Equipment; or
      6.2.6 Your failure to comply with these Terms and Conditions and any document or information provided by the Company concerning the use of the System and the Services.
    6.3 If for any reason other than a reason mentioned in subparagraphs 6.1 or 6.2.1, The Services are interfered with or unavailable, the Company’s sole liability under this Agreement in respect thereof shall be to re-establish the Services as soon as reasonably practicable.
    6.4 Save as provided in subparagraph 6.3 the Company shall not be liable to you for any interference with or unavailability of the Services, howsoever caused.
    6.5 Under no circumstances shall the Company be liable to you for any loss of profit or anticipated savings or for any indirect or consequential loss or damage of whatever kind, howsoever caused, arising out of or in connection with the Services even where the possibility of such loss or damage is notified to the Company.
    6.6 All warranties and obligations implied by law are hereby excluded to the fullest extent permitted by law.

7. INTELLECTUAL PROPERTY RIGHTS

You acknowledge that the intellectual property rights in the System (and any amendments, upgrades or enhancements thereto from time to time) and all associated documentation that the Company provides to you through the System or otherwise are vested either in the Company or in other persons from whom the Company has a right to use and to sub-license the System and/or the said documentation. You shall not infringe any such intellectual property rights. You shall not duplicate, reproduce or in any way tamper with the System and associated documentation without the prior written consent of the Company.

8. INDEMNITY

    8.1 In consideration of the Company complying with your instructions or Requests in relation the Mombo App Account, you undertake to indemnify the Company and hold it harmless against any loss, charge, damage, expense, fee or claim which the Company suffers or incurs or sustains thereby and you absolve the Company from all liability for loss or damage which you may sustain from the Company acting on your instructions or requests or in accordance with these Terms and Conditions.
    8.2 The indemnity in clause 8.1 shall also cover the following:
      8.2.1 All demands, claims, actions, losses and damages of whatever nature which may be brought against the Company or which it may suffer or incur arising from its acting or not acting on any Request or arising from the malfunction or failure or unavailability of any hardware, software, or equipment, the loss or destruction of any data, power failures, corruption of storage media, natural phenomena, riots, acts of vandalism, sabotage, terrorism, any other event beyond the Company’s control, interruption or distortion of communication links or arising from reliance on any person or any incorrect, illegible, incomplete or inaccurate information or data contained in any Request received by the Company.
      8.2.2 Any loss or damage that may arise from your use, misuse, abuse or possession of any third party software, including without limitation, any operating system, browser software or any other software packages or programs.
      8.2.3 Any unauthorized access to your Mombo App Account or any breach of security or any destruction or accessing of your data or any destruction or theft of or damage to any of your Equipment.
      8.2.4 Any loss or damage occasioned by the failure by you to adhere to these Terms and Conditions and/or by supplying of incorrect information or loss or damage occasioned by the failure or unavailability of third party facilities or systems or the inability of a third party to process a transaction or any loss which may be incurred by the Company as a consequence of any breach by these Terms and Conditions.
      8.2.5 Any damages and costs payable to the Company in respect of any claims against the Company for recompense for loss where the particular circumstance is within your control.

9. VARIATION AND TERMINATION OF RELATIONSHIP

    9.1 The Company may at any time, upon notice to you, terminate or vary its business relationship with you and close your Mombo App Account and in particular but without prejudice to the generality of the foregoing the Company may cancel credits which it has granted and require the repayment of outstanding debts resulting there from within such time as the Company may determine.
    9.2 Without prejudice to the Company rights under clause 9.1, Mombo Group may at its sole discretion suspend or close your Mombo App Account:
      9.2.1 If you use the Mombo App Account for unauthorized purposes or where the Company detects any abuse/misuse, breach of content, fraud or attempted fraud relating to your use of the Services;
      9.2.2 If the Company reasonably suspects or believes that you are in breach of these Terms and Conditions (including non-payment of any Loan amount due from you where applicable);
      9.2.3 where such a suspension or variation is necessary as a consequence of technical problems or for reasons of safety; 9.2.4 To facilitate update or upgrade the contents or functionality of the Services from time to time;
      9.2.5 where you remain inactive for any period of time determined by the Company in its reasonable discretion; or
      9.2.6 If the Company decides to suspend or cease the provision of the Services for commercial reasons or for any other reason as it may determine in its absolute discretion.
    9.3 You may close your Mombo App Account at any time.
    9.4 If your Mombo App Account has any credit balance at the time of its closure, we will return any such balance to you, less any applicable fees. If your Mombo App Loan Account is in arrears at the time of closure of your Account, you agree to pay to us immediately all amounts you owe us.
    9.5 Termination shall however not affect any accrued rights and liabilities of either party.
    9.6 If the Company receives notice of your demise, the Company will not be obliged to allow any operation or withdrawal from your Mombo App Account by any person except upon production of Grants of Letters of Administration or Probate by your legal representatives duly appointed by the Court.


10. DISCLOSURE OF INFORMATION

    10.1 You hereby expressly consent and authorize the Company to disclose receive record or utilize your personal information or information or data relating to your Mombo App Account and any details of your use of the Services:
      10.1.1 To and from any local or international law enforcement or competent regulatory or governmental agencies so as to assist in the prevention, detection, investigation or prosecution of criminal activities or fraud;
      10.1.2 to the Company’s lawyers, auditors or other professional advisors or to any court or arbitration tribunal in connection with any legal or audit proceedings;


11. MISCELLANEOUS

    11.1 These Terms and Conditions (as may be amended from time to time) form a legally binding agreement binding on you and your personal successors.
    11.2 This Agreement and any rights or liabilities accruing there under may not be assigned by you to any other person.
    11.3 The Company may vary or amend at any time and without notice to you these Terms and Conditions and the Transaction Fees. Any such variations or amendments may be published in Company’s website and/or by any other means as determined by the Company and any such variations and amendments shall take effect immediately upon publication.
    11.4 No failure or delay by either yourself or the Company in exercising any right or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any right or remedy prevent any further or other exercise thereof or the exercise of any other right or remedy.
    11.5 The rights and remedies herein provided are cumulative and not exclusive of any rights or remedies provided by law. 11.6 If any provision of these Terms and Conditions shall be found by any duly appointed arbitrator, court or administrative body of competent jurisdiction to be invalid or unenforceable the invalidity or unenforceability of such provision shall not affect the other provisions herein.
    11.7 Any addition or alteration to these Terms and Conditions may be made from time to time by the Company and of which notice has been given to you by way of publication as provided in subparagraph 11.3 shall be binding upon you as fully as if the same were contained in these Terms and Conditions.


12. NOTICES

    12.1 The Company may send information concerning the Mombo App Account via text message and email used in account opening by a member.
    12.2 You acknowledge that you have no claim against the Company for damages resulting from losses, delays, misunderstandings, mutilations, duplications or any other irregularities due to transmission of any communication pertaining to the Mombo App Account.

13. DISPUTE RESOLUTION, JURISDICTION AND ARBITRATION

    13.1 You may contact the Company to report any disputes, claims or Mombo App Account discrepancies.
    13.2 Any dispute arising out of or in connection with this Agreement that is not resolved by Company representatives shall be referred to arbitration by a single arbitrator to be appointed by agreement between the parties or in default of such agreement within 60 days of the notification of a dispute, upon the application of either party, by the Chairman for the time being of the Chartered Institute of Arbitrators (Kenya Branch). Such arbitration shall be conducted in the English language in Nairobi in accordance with the Rules of Arbitration of the said Institute and subject to and in accordance with the provisions of the Arbitration Act 1995.
    13.3 To the extent permissible by Law, the determination of the Arbitrator shall be final, conclusive and binding upon the parties hereto.
    13.4 This Agreement shall be governed by and construed in accordance with the laws of the Republic of Kenya.

MOMBO SACCO LIMITED TERMS AND CONDITIONS WHEREAS



    1. This Agreement is a financial services and an end-user licence Agreement between you (“End-user” or “you”) and Mombo Group Limited, a company duly licensed under the laws of the Republic of Kenya for the mobile application software (iOS and android) as well as Web App for transacting with Mombo Sacco Limited (hereinafter “Mombo Sacco”)the data supplied with the software and the associated Services (defined below) (“App”) This Agreement sets out the complete terms and conditions (the “Terms and Conditions”) which shall be applicable to the Account (as hereinafter defined) opened by you. These Terms and Conditions and any amendments or variations thereto take effect on their date of publication.

IT IS AGREED AS FOLLOWS

1. DEFINITIONS

    1. “Agreement” means this Agreement;
    2. “Account” means your loan account with Mombo Sacco Limited;
    3. “Business Day” means a day other than a Saturday, Sunday or national or public holiday in the Republic of Kenya;
    4. “Credentials” means your personal credentials used to access the Application and operate your Account;
    5. “E-Money” means the electronic monetary value depicted in your Mobile Money Account representing an equal amount of cash;
    6. “Equipment” includes your mobile phone handset, SIM Card and/or other equipment which when used together enables you to access the Network;
    7. “Force Majeure” means events, circumstances or causes beyond the reasonable control of Mombo Sacco making Mombo Sacco performance of its obligations inadvisable, commercially impracticable, illegal, or impossible, including but not limited to acts of God, war, strikes or labour disputes, embargoes or government orders;
    8. “Encumbrance” includes any mortgage or charge (whether legal or equitable), lien, option, security interest, restrictive covenant, pledge, assignment, title retention, trust arrangement or other restriction of any kind or other encumbrance securing or any right conferring a priority of payment in respect of any obligation of any person;
    9. “Loan” means the principal amount of the loan made or to be made by Mombo Sacco to you under this Agreement from time to time through the Application or (as the context requires) the principal amount outstanding for the time being of that loan;
    10. “Mobile Money Account” means your mobile money store of value, being the record maintained by Mobile Money Providers in Kenya of the amount of E-Money from time to time held by you in the Mobile Money Provider’s System;
    11. “Mobile Money” means the money transfer and payments service operated by the Mobile Money Providers in Kenya;
    12. “Mobile Network Operator” means a mobile network operator in Kenya registered with the Communications Authority of Kenya;
    13. “Mobile Money Provider” means a Mobile Network Operator that has been duly authorized by the Central Bank of Kenya under applicable law to offer Mobile Money Services in Kenya;
    14. “Mobile Money Service” means the money transfer and payments service provided by the Mobile Money Providers through the Mobile Money System;
    15. “Mobile Money System” means the system operated by the Mobile Money Providers in Kenya for the provision of the Mobile Money Service;
    16. “Network” means a mobile cellular network operated by a Mobile Network Operator;
    17. “Request” means a request or instruction received by Mombo Sacco from you or purportedly from you through the Network and the System and upon which Mombo Sacco is authorized to act;
    18. “Services” shall include any form of financial services or products that Mombo Sacco may offer you pursuant to this Agreement and as you may from time to time subscribe to and “Service” shall be construed accordingly;
    19. “SIM Card” means the subscriber identity module which when used with the appropriate mobile phone handset enables you to access the Network and to use the Mobile Money Account;
    20. “SMS” means a short message service consisting of a text message transmitted from your mobile phone to another;
    21. “System” means Mombo Group Limited electronic communications software enabling you to communicate with Mombo Sacco for purposes of the Services. The System and the Services will for the purpose of this Agreement be accessed through a Mobile Network Operator’s System;
    22. “Service charge” includes any fees and charges payable for the use of the loan and services as published by Mombo Sacco on Mombo’s website or by such other means as Mombo Sacco shall in its sole discretion determine. Service charge(s) are subject to change at any time at Mombo Sacco sole discretion.
    23. “Taxes” includes all present and future taxes levies imposts duties fees charges or withholdings of whatever nature and wherever levied charged or assessed, together with any interest thereon and any penalties in respect thereof

2. UNDERSTANDING AND INTERPRETATION

    1. Unless the context defines otherwise, the singular shall include plural and vice versa.
    2. The schedules shall be deemed to form part of this Agreement.

3. ACCEPTANCE OF TERMS AND CONDITIONS

    1. You will be required to carefully read and understand the Terms and Conditions set out in this Agreement and as amended from time to time by Mombo Sacco (the Terms and Conditions) before downloading or streaming the Application or opening an account with Mombo Sacco which will govern the use and operation of the App and the Account.
    2. After downloading the Application, you will be deemed to accept the Terms and Conditions upon checking/ticking the box “Accept terms and conditions” option on Mombo Group System asking you to confirm that you have read, understood and agreed to abide by these Terms and Conditions.
    3. By downloading the Application and opening an Account with Mombo Sacco, you agree to comply with and be bound by the Terms and Conditions governing the operation of the Account and you affirm that the Terms and Conditions herein are without prejudice to any other right that Mombo Sacco may have with respect to the Account in law or otherwise.
    4. These Terms and Conditions may be amended or varied by Mombo Sacco from time to time and the continued use of the Services constitutes your agreement to be bound by the terms of any such amendment(s) or variation(s). Mombo Sacco will take all reasonable measures to notify you of any changes.
    5. From time to time updates to the App may be issued through the website. Depending on the update, you may not be able to use the Services until you have downloaded or streamed the latest version of the Application and accepted any new terms and conditions. By using the Application or any of the Services, you consent to us collecting and using technical information about the Equipment and related software, hardware and peripherals for Services that are internet-based or wireless to improve our products and to provide any Services to you. If you use these Services, you consent to us and our affiliates' and licensees' transmission, collection, retention, maintenance, processing and use of your data to determine our credit scoring services or to improve our Services and/or your experience while using the Application.

4. COMMUNICATION BETWEEN US

    1. If you wish to contact us in writing, or if any condition in these Terms and Conditions requires you to give us notice, you can send this to us by e-mail to support@mombo.africa or to such e-mail address that may be communicated to you from time to time. We will confirm receipt of this by contacting you in writing by e-mail.
    2. If we have to contact you or give you notice in writing, we will do so by e-mail or by SMS to the mobile phone number or email address you provide to us in your request for the Application.

5. GRANT AND SCOPE OF LICENSE

    1. In consideration of you agreeing to abide by the terms of this Agreement, we grant you a non-transferable, non-exclusive license to use the Application on your Equipment, subject to these Terms and Conditions. We reserve all other rights. Except as expressly set out in this Agreement or as permitted by any local law, you agree: not to rent, lease, sub-license, loan, translate, merge, adapt, vary or modify the Application;
    2. not to make alterations to, or modifications of, the whole or any part of the Application, or permit the Application or any part of it to be combined with, or become incorporated in, any other programs;
    3. not to disassemble, decompile, reverse-engineer or create derivative works based on the whole or any part of the Application or attempt to do any such thing except to the extent that such actions cannot be prohibited because they are essential for the purpose of achieving inter-operability of the Application with another software program, and provided that the information obtained by you during such activities:
    4. is not unnecessarily disclosed or communicated without our prior written consent to any third party; and is not used to create any software that is substantially similar to the Application;
    5. to include our copyright notice on all entire and partial copies you make of the Application on any medium; not to provide or otherwise make available the Application in whole or in part (including object and source code), in any form to any person without prior written consent from us; and
    6. to comply with all technology control or export laws and regulations that apply to the technology used or supported by the Application or any Service (Technology), together License Restrictions. You must:
    7. not use the Application or any Service in any unlawful manner, for any unlawful purpose, or in any manner inconsistent with this Agreement, or act fraudulently or maliciously, for example, by hacking into or inserting malicious code, including viruses, or harmful data, into the Application, any Service or any operating system;
    8. not infringe our intellectual property rights or those of any third party in relation to your use of the Application or any Service, including the submission of any material (to the extent that such use is not licensed by this Agreement); not transmit any material that is defamatory, offensive or otherwise objectionable in relation to your use of the Application or any Service;
    9. not use the Application or any Service in a way that could damage, disable, overburden, impair or compromise our systems or security or interfere with other users; and
    10. not collect or harvest any information or data from any Service or our systems or attempt to decipher any transmissions to or from the servers running any Service. Together Acceptable Use Restrictions.

6. INTELLECTUAL PROPERTY RIGHTS

    1. You acknowledge that all intellectual property rights in the App and the Technology anywhere in the world belong to us or our licensors, that rights in the Application are licensed (not sold) to you, and that you have no rights in, or to, the Application or the Technology other than the right to use each of them in accordance with the terms of this Agreement. You acknowledge that you have no right to have access to the Application in source-code form.

7. USE OF THE SERVICES

    1. The Services offered by Mombo Sacco can only be utilized by persons over the age of 18 years. Mombo Sacco reserves the right to verify the authenticity and status of your Mobile Money Account with the relevant Mobile Money Provider.
    2. Mombo Sacco acceptance of your application for an Account will be displayed on the Application. You hereby acknowledge and accept that the acceptance by Mombo Sacco of your application for an Account does not create any contractual relationship between you and the Mobile Money Providers beyond the terms and conditions that apply to your Mobile Money Account from time to time.
    3. Mombo Sacco reserves the right to decline your application for a loan or to revoke the same at any stage at Mombo Sacco sole and absolute discretion and without assigning any reason or giving any notice thereto.
    4. Mombo Sacco reserves the right (in its sole and absolute discretion) to issue, decline to issue a loan and/or vary the terms of any loan depending on its assessment of the credit profile of each individual borrower from time to time. The terms of the loan and the interest rate payable in relation to each loan application will be displayed on the Application.
    5. That further terms and conditions are applicable with relation to Mombo Sacco as per the loan application form to be executed by you.

8. PERSONAL INFORMATION

    1. You hereby agree and authorize Mombo Sacco to verify information provided by you against the information held by the Mobile Money Providers in relation to your Mobile Money Account pursuant to the agreement between you and the relevant Mobile Money Provider for the provision of its products and services and the Mobile Money Service. The information that Mombo Sacco may verify against the information held by the Mobile Money Providers includes (without limitation): your phone number, name, date of birth, Identification Number (“ID”) or Passport Number and such other information that will enable Mombo Sacco to identify you and comply with the regulatory “Know Your Customer” requirements (together the “Personal Information”).
    2. You hereby agree and authorize Mombo Sacco to verify information including, but not limited to, data relating to your phone (including, without limitation, your phone’s history) from your Equipment, from any SMS sent to you by the Mobile Money Providers and any financial services providers relating to your use of the Mobile Money Service and such other information as Mombo Sacco shall require for purposes of providing you the Services (the “Relevant Information”).
    3. You hereby consent to Mombo Sacco verifying the Personal Information and the Relevant Information with the Mobile Money Providers and using of the Personal Information and the Relevant Information to the extent necessary in the opinion of Mombo Sacco.
    4. You hereby agree and authorize Mombo Sacco to obtain and procure your Personal Information and Relevant Information from your respective Mobile Money Provider and you further agree and consent to the disclosure and provision of such Personal Information by the Mobile Money Provider and further to indemnify and hold Mombo Sacco and the Mobile Money Provider harmless with respect to any claims, losses, liabilities and expenses (including legal fees and expenses) that may arise as a result of the disclosure and reliance on such Personal Information and/or Relevant Information.
    5. You hereby agree and authorize Mombo Sacco to obtain and procure your Personal Information from the Credit Reference Bureaus and you further agree and consent to the disclosure and provision of such Personal Information by the Credit Reference Bureaus. Mombo Sacco reserves the right to request for further information from you pertaining to your application for an Account at any time. Failure to provide such information within the time required by Mombo Sacco may result in Mombo Sacco declining to accept your application for an Account.

9. REQUESTS MADE BY THE BORROWER

    1. You hereby irrevocably authorize, Mombo Sacco to act on all Requests received by it from you (or purportedly from you) through the System and to hold you liable in respect thereof. Mombo Sacco may nevertheless refuse to carry out any Requests in its sole and absolute discretion.
    2. Subject to its discretion, Mombo Sacco reserves the right to reject any Request in relation to a loan application from you even if you have previously been issued with a loan by Mombo Sacco.
    3. Mombo Sacco shall be entitled to accept and to act upon any Request, even if that Request is otherwise for any reason incomplete or ambiguous if, in its absolute discretion, Mombo Sacco believes that it can correct the incomplete or ambiguous information in the Request without any reference to you being necessary.
    4. Mombo Sacco shall be deemed to have acted properly and to have fully performed all the obligations owed to you notwithstanding that the Request may have been initiated, sent or otherwise communicated in error or fraudulently, and you shall be bound by any Requests on which Mombo Sacco may act if Mombo Sacco has in good faith acted in the belief that such instructions have been sent by you.
    5. Mombo Sacco may, in its absolute discretion, decline to act on or in accordance with the whole or any part of your Request pending further enquiry or further confirmation (whether written or otherwise) from you.
    6. You agree to and shall release from and indemnify Mombo Sacco against all claims, losses, damages, costs and expenses howsoever arising in consequence of, or in any way related to Mombo Sacco having acted in accordance with the whole or any part of any of your Requests (or failed to exercise) the discretion conferred upon it.
    7. You acknowledge that to the full extent permitted by law Mombo Saccoshall not be liable for any unauthorized drawing, transfer, remittance, disclosure, any activity or any incident on your account by the fact of the knowledge and/or use or manipulation of your Account PIN, password, ID or any means whether or not occasioned by your negligence.
    8. Mombo Sacco is authorized to effect such orders in respect of your Account as may be required by any court order or competent authority or agency under the applicable laws.
    In the event of any conflict between any terms of any Request received by Mombo Saccofrom you and this Agreement, this Agreement shall prevail.

10. SERVICE CHARGE AND FEES

    1. The service charge payable by you to Mombo Sacco in relation to any Loan shall be displayed by Mombo Sacco on the loan offer letter. Mombo Sacco shall be entitled to set and charge service fees, in connection with your use of the Services and from time to time amend or vary any fees for the Services. If Mombo Sacco opts to start charging fees or where already applicable, vary or amend its fees, the fees payable on any new application for Services will be displayed on the Application. Mombo Sacco will use reasonable endeavors to try notify you of any changes in relation to fees within a reasonable period before such changes are implemented including displaying notices of the changes on the App or Mombo Group website.
    2. All payments to be made by you under this Agreement shall be made in full without any set off or counter claim and save in so far as required by the law to the contrary, free and clear of and without any deduction or withholding whatsoever. If you are at any time required to make any deduction or withholding from any payment to Mombo Sacco, you shall immediately pay to Mombo Sacco such additional amounts as will result in Mombo Sacco receiving the full amount it would have received had no such deduction or withholding been required.
    3. If you fail to make any payments due to Mombo Sacco at the due date for payment, Mombo Sacco will be authorized to apply late fees on such amount loaned to you at a rate to be communicated to you.

11. STATEMENTS

    1. A statement and activity report in respect of your Account will be made available on Request. Requests shall be made via our e-mail address: support@mombo.africa or via a contact link on the Application.
    2. The statement on the Application shall provide details of the last 4 (four) transactions (or such other number of transactions as determined by Mombo Sacco) in your Account initiated from your Equipment.
    3. Your statement will show all amounts added or taken from your Account. You must check your statement carefully and notify Mombo Saccoas soon as possible if it includes any transaction or other entry which appears to you to be wrong or not made in accordance with your instructions.
    4. Mombo Sacco reserves the right to rectify discrepancies, add and/or alter the entries in your statements, without prior notice to you. Mombo Sacco will however inform you of any rectification, additions and or alterations effected on your statements within a reasonable time after the changes are effected.
    5. You will be notified of all transactions on your Account by way of SMS and the charges for this service will be debited to your Account.
    6. Save for a manifest error, a statement issued to you in respect of your Mombo Sacco Account shall be conclusive evidence of the transactions carried out on your Mombo Sacco Account for the period covered in the statement.

12. TAXES

    1. All payments to be made by you in connection with these Terms and Conditions are calculated without regard to any taxes payable by you. If any taxes are payable in connection with the payment, you must pay Mombo Saccoan additional amount equal to the payment of the appropriate rate of tax. You must do so at the same time of making the payment.
    2. You hereby consent and agree that Mombo Sacco may withhold amounts in your Account if any tax authority requires Mombo Sacco to do so, or Mombo Sacco is otherwise required by law or pursuant to agreements with any tax authority to do so, or if Mombo Sacco needs to comply with internal policies or with any applicable order or sanction of a tax authority.

13. BORROWER’S RESPONSIBILITIES

    1. You shall at your own expense provide and maintain in safe and efficient operating order your Equipment necessary for the purpose of accessing the System and the Services.
    2. You shall be responsible for ensuring the proper performance of your Equipment. Mombo Sacco shall neither be responsible for any errors or failures caused by any malfunction of your Equipment, and nor be responsible for any computer virus or related problems that may be associated with the use of the System, the Services and the Equipment. You shall be responsible for charges due to any service provider providing you with connection to the Network and Mombo Sacco shall not be responsible for losses or delays caused by any such service provider.
    3. You shall follow all instructions, procedures and terms contained in this Agreement and any document provided by Mombo Sacco concerning the use of the System and the Services.
    4. You hereby agree and acknowledge that you shall be solely responsible for the safekeeping and proper use of your Equipment and for keeping your Credentials secret and secure.
    5. You shall ensure that your Credentials do not become known or come into possession of any unauthorized person. Mombo Sacco shall not be liable for any disclosure of your Credentials to any third party and you hereby agree to indemnify and hold Mombo Sacco harmless from any losses resulting from any disclosure of your Credentials.
    6. You shall take all reasonable precautions to detect any unauthorized use of the System and the Services. To that end, you shall ensure that all communications from Mombo Sacco are examined and checked by you or on your behalf as soon as practicable after receipt by you in such a way that any unauthorized use of and access to the System will be detected. You shall immediately inform Mombo Sacco in the event that:
    7. You have reason to believe that your Credentials are or may be known to any person not authorized to know the same and/or have been compromised; and/or
    8. You have reason to believe that unauthorized use of the Services has or may have occurred or could occur and a transaction may have been fraudulently input or compromised.
    9. You shall at all times follow the security procedures notified to you by Mombo Sacco time to time or such other procedures as may be applicable to the Services from time to time. You acknowledge that any failure on your part to follow the recommended security procedures may result in a breach of your Account’s confidentiality. In particular, you shall ensure that the Services are not used or Requests are not issued or the relevant functions are not performed by anyone other than a person authorized to do so.
    10. You shall not at any time operate or use the Services in any manner that may be prejudicial to Mombo Sacco.

14. DEFAULT ON LOAN

    1. In the event default (Event of Default) occurs when you fail to pay any sum payable for a Loan granted under these Terms and Conditions for a period of ninety (90) consecutive days unless failure to pay is caused solely by an administrative error or technical problem; or you are declared bankrupt.
    At any time after an Event of Default has occurred which is continuing, Mombo Sacco may, without prejudice to any other right or remedy granted to it under any law: terminate this Agreement and declare that the Loan (and all accrued service fees) and all other amounts outstanding under this Agreement is immediately due and payable, whereupon they shall become immediately due and payable; and supply information concerning the Event of Default to Credit Reference Bureaus.

      15. VARIATION AND TERMINATION

        1. Mombo Sacco may at any time, upon notice to you, terminate or vary its business relationship with you and close your Account and in particular but without prejudice to the generality of the foregoing Mombo Sacco may cancel credits which it has granted and require the repayment of outstanding debts resulting from such credits within such time as Mombo Sacco may determine.
        2. If you use the Account for unauthorized purposes or where Mombo Sacco detects any abuse/misuse, breach of content, fraud or attempted fraud relating to your use of the Services;
        3. If your Account or agreement with a Mobile Network Operator is terminated for whatever reason;
        4. If Mombo Sacco is required or requested to comply with an order or instruction of or a recommendation from the government, court, regulator or other competent authority;
        5. If Mombo Sacco reasonably suspects or believes that you are in breach of these Terms and Conditions (including non-payment of any Loan amount due from you where applicable) which you fail to remedy (if remediable) within fourteen(14) days after the service of notice by email, SMS or other electronic means requiring you to do so;
        6. Where such a suspension or variation is necessary as a consequence of technical problems or for reasons of safety; to facilitate update or upgrade the contents or functionality of the Services from time to time; where your Account becomes inactive or dormant;
        7. If Mombo Sacco decides to suspend or cease the provision of the Services for commercial reasons or for any other reason as it may determine in its absolute discretion; or
        8. If you breach any of the License Restrictions or the Acceptable Use Restrictions
        9. If your Account has a credit balance at any time as a result of overpayment of your Loan, you may issue a Request to Mombo Sacco for payment of such credit balance and Mombo Sacco will return any such balance to you, less any applicable fees or charges, provided that such amount falls above the minimum transfer amounts specified by the relevant Mobile Money Provider.
        10. Termination shall however not affect any accrued rights and liabilities of either party.
        11. If Mombo Sacco receives notice of your demise, it will not be obliged to allow any operation or withdrawal from your Account by any person except upon production of letters of administration from a competent authority or confirmed grant of letters of administration or confirmed grant of probate by your legal representatives duly appointed by a court of competent jurisdiction.

      16. EXCLUSION OF LIABILITY

        1. Mombo Sacco shall not be responsible for any loss suffered by you should the Services be interfered with or be unavailable by reason of the failure of any of your Equipment, or any other circumstances whatsoever not within its control including, without limitation, Force Majeure or error, interruption, delay or non- availability of the System, terrorist or any enemy action equipment failure, loss of power, adverse weather or atmospheric conditions, and failure of any public or private telecommunications system.
        2. You acknowledge that the Application has not been developed to meet your individual requirements, and that it is therefore your responsibility to ensure that the facilities and functions of the Application as described meet your requirements.
        3. We only supply the Application for domestic and private use. You agree not to use the Application and Documents for any commercial, business or resale purposes, and we have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.
        4. Mombo Sacco will not be liable for any losses or damage suffered by you as a result of or in connection with:
        5. if the defect or fault in the Application or any Service results from you having altered or modified the Application;
        6. if the defect or fault in the Application results from you having used the Application in breach of the terms of this Agreement;
        7. if you breach any of the License Restrictions or the Acceptable Use Restrictions; unavailability of sufficient funds in your Mobile Money Account; failure, malfunction, interruption or unavailability of the System, your Equipment, the Network or a Mobile Money System; the money in your Account being subject to legal process or other encumbrance restricting payments or transfers thereof; your failure to give proper or complete instructions for payments or transfers relating to your Account; any fraudulent or illegal use of the Services, the System and/or your Equipment; or your failure to comply with these Terms and Conditions and any document or information provided by Mombo Sacco concerning the use of the System and the Services.
        8. Under no circumstances shall Mombo Sacco be liable to you for any loss of profit or anticipated savings or for any indirect or consequential loss or damage of whatever kind, howsoever caused, arising out of or in connection with the Services even where the possibility of such loss or damage is notified to Mombo Sacco.
        9. All warranties and obligations implied by law are hereby excluded to the fullest extent permitted by law.

      17. INDEMNITY

        1. In consideration of Mombo Sacco complying with your instructions or Requests in relation your Account, you undertake to indemnify Mombo Sacco and hold it harmless against any loss, charge, damage, expense, fee or claim which Mombo Sacco suffers or incurs or sustains thereby and you absolve Mombo Sacco from all liability for loss or damage which you may sustain from Mombo Sacco acting on your instructions or requests or in accordance with these Terms and Conditions.
        2. The indemnity shall also cover the following:
        3. All demands, claims, actions, losses and damages of whatever nature which may be brought against Mombo Sacco or which it may suffer or incur arising from its acting or not acting on any Request or arising from the malfunction or failure or unavailability of any hardware, software, or equipment, the loss or destruction of any data, power failures, corruption of storage media, natural phenomena, riots, acts of vandalism, sabotage, terrorism, any other event beyond Mombo Sacco control, interruption or distortion of communication links or arising from reliance on any person or any incorrect, illegible, incomplete or inaccurate information or data contained in any Request received by Mombo Sacco.
        4. Any loss or damage that may arise from your use, misuse, abuse or possession of any third party software, including without limitation, any operating system, browser software or any other software packages or programs.
        5. Any unauthorized access to your Account or any breach of security or any destruction or accessing of your data or any destruction or theft of or damage to any of your Equipment
        6. Any loss or damage occasioned by the failure by you to adhere to these Terms and Conditions and/or by supplying of incorrect information or loss or damage occasioned by the failure or unavailability of third party facilities or systems or the inability of a third party to process a transaction or any loss which may be incurred by Mombo Sacco as a consequence of any breach by these Terms and Conditions.
        7. Any damages and costs payable to Mombo Sacco in respect of any claims against Mombo Sacco for recompense for loss where the particular circumstance is within your control.

      18. GENERAL

        1. Remedies Cumulative
          1.1. No failure on the part of any party to exercise, or delay on its part in exercising, any right, power or remedy provided by this Agreement or by law shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any further or other exercise of that, or any other, right, power or remedy.
        2. No waiver
          2.1. No failure by Mombo Sacco to exercise, and no delay in exercising, any right or remedy in respect of any provision of this Agreement shall operate as a waiver of such right or remedy. 3. Effect of invalidity
          3.1. If any provision or part of a provision of this Agreement shall be, or be found by any court of competent jurisdiction to be, invalid or unenforceable, such invalidity or unenforceability shall not affect the other provisions or parts of such provisions of this Agreement, all of which shall remain in full force and effect.

        19. ENTIRE AGREEMENT

          1.1. These Terms and Conditions and our Privacy Policy constitute the entire Agreement between you and us and supersede and extinguish all previous agreements, promises, assurances, warranties, representations and understandings between us, whether written or oral, relating to its subject matter.
          1.2. You acknowledge that in entering into this Agreement you do not rely on any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in these Terms and Conditions or our Privacy Policy.
          1.3. You and we agree that neither of us shall have any claim for innocent or negligent misrepresentation or negligent misstatement based on any statement in this Agreement.

        20. DISPUTE RESOLUTION

          1. Effect of invalidity
            1.1. The Parties shall use their good faith efforts to resolve any dispute, controversy or claim of any nature whatsoever arising out of or in relation to or in connection with this Agreement. To this end, the Parties in dispute shall each promptly appoint representatives of appropriate standing who shall meet and attempt to resolve any dispute between them. In the event that an amicable settlement has not been reached within thirty (30) days of the parties’ representatives meeting as aforesaid, the following provisions of this clause 20 shall apply.

          2. Arbitration
            2.1. Any dispute, difference or question whatsoever and howsoever arising out of or in connection with this Agreement, save as specifically provided herein, shall be referred for final determination to a single arbitrator to be appointed by agreement between the parties hereto or in default of any such agreement within thirty (30) days of the notification of any dispute by either party to the other then, upon application by either party.
            2.2. To the extent permissible by law the determination of the arbitrator shall be final and binding upon the Parties and shall not be subject to any appeal. Nothing in this clause shall restrict either Party’s freedom to commence legal proceedings of any nature for the purposes of seeking preliminary injunctive relief or interim or conservatory measures from any court of competent jurisdiction pending the final decision or award of any arbitrator.

          21. GOVERNING LAW

            1. This Agreement shall be governed by and construed in accordance with the laws of Kenya.

MOMBO iCAPITAL LIMITED TERMS AND CONDITIONS WHEREAS



    1. This Agreement is a financial services and an end-user licence Agreement between you (“End-user” or “you”) and Mombo Group, a company duly registered under the laws of the Republic of Kenya for the mobile application software (iOS and android) as well as Web App for transacting with Mombo iCapital Limited (hereinafter “Mombo iCapital”)the data supplied with the software and the associated Services (defined below) (“App”) This Agreement sets out the complete terms and conditions (the “Terms and Conditions”) which shall be applicable to the Account (as hereinafter defined) opened by you. These Terms and Conditions and any amendments or variations thereto take effect on their date of publication.

IT IS AGREED AS FOLLOWS


1. DEFINITIONS

    1. “Agreement” means this Agreement;
    2. “Account” means your loan account with Mombo iCapital Limited;
    3. “Business Day” means a day other than a Saturday, Sunday or national or public holiday in the Republic of Kenya;
    4. “Credentials” means your personal credentials used to access the Application and operate your Account;
    5. “E-Money” means the electronic monetary value depicted in your Mobile Money Account representing an equal amount of cash;
    6. “Equipment” includes your mobile phone handset, SIM Card and/or other equipment which when used together enables you to access the Network;
    7. “Force Majeure” means events, circumstances or causes beyond its reasonable control of Mombo ICapital making Mombo iCapital’s performance of its obligations inadvisable, commercially impracticable, illegal, or impossible, including but not limited to acts of God, war, strikes or labour disputes, embargoes or government orders;
    8. “Encumbrance” includes any mortgage or charge (whether legal or equitable), lien, option, security interest, restrictive covenant, pledge, assignment, title retention, trust arrangement or other restriction of any kind or other encumbrance securing or any right conferring a priority of payment in respect of any obligation of any person;
    9. “Loan” means the principal amount of the loan made or to be made by Mombo iCapital to you under this Agreement from time to time through the Application or (as the context requires) the principal amount outstanding for the time being of that loan;
    10. “Mobile Money Account” means your mobile money store of value, being the record maintained by Mobile Money Providers in Kenya of the amount of E-Money from time to time held by you in the Mobile Money Provider’s System;
    11. “Mobile Money” means the money transfer and payments service operated by the Mobile Money Providers in Kenya;
    12. “Mobile Network Operator” means a mobile network operator in Kenya registered with the Communications Authority of Kenya;
    13. “Mobile Money Provider” means a Mobile Network Operator that has been duly authorized by the Central Bank of Kenya under applicable law to offer Mobile Money Services in Kenya;
    14. “Mobile Money Service” means the money transfer and payments service provided by the Mobile Money Providers through the Mobile Money System;
    15. “Mobile Money System” means the system operated by the Mobile Money Providers in Kenya for the provision of the Mobile Money Service;
    16. “Network” means a mobile cellular network operated by a Mobile Network Operator;
    17. “Request” means a request or instruction received by Mombo iCapital from you or purportedly from you through the Network and the System and upon which Mombo iCapital is authorized to act;
    18. “Services” shall include any form of financial services or products that Mombo iCapital may offer you pursuant to this Agreement and as you may from time to time subscribe to and “Service” shall be construed accordingly;
    19. “SIM Card” means the subscriber identity module which when used with the appropriate mobile phone handset enables you to access the Network and to use the Mobile Money Account;
    20. “SMS” means a short message service consisting of a text message transmitted from your mobile phone to another;
    21. “System” means Mombo Group Limited electronic communications software enabling you to communicate with Mombo iCapital for purposes of the Services. The System and the Services will for the purpose of this Agreement be accessed through a Mobile Network Operator’s System;
    22. “Service charge” includes any fees and charges payable for the use of the loan and services as published by Mombo iCapital on Mombo’s website or by such other means as Mombo iCapital shall in its sole discretion determine. Service charge(s) are subject to change at any time at Mombo iCapital sole discretion.
    23. “Taxes” includes all present and future taxes levies imposts duties fees charges or withholdings of whatever nature and wherever levied charged or assessed, together with any interest thereon and any penalties in respect thereof

2. UNDERSTANDING AND INTERPRETATION

    1. Unless the context defines otherwise, the singular shall include plural and vice versa.
    2. The schedules shall be deemed to form part of this Agreement.

3. ACCEPTANCE OF TERMS AND CONDITIONS

    1. You will be required to carefully read and understand the Terms and Conditions set out in this Agreement and as amended from time to time by Mombo iCapital (the Terms and Conditions) before downloading or streaming the Application or opening an account with Mombo iCapital which will govern the use and operation of the App and the Account.
    2. After downloading the Application, you will be deemed to accept the Terms and Conditions upon checking/ticking the box “Accept terms and conditions” option on Mombo Group System asking you to confirm that you have read, understood and agreed to abide by these Terms and Conditions.
    3. By downloading the Application and opening an Account with Mombo iCapital Limited, you agree to comply with and be bound by the Terms and Conditions governing the operation of the Account and you affirm that the Terms and Conditions herein are without prejudice to any other right that Mombo iCapital may have with respect to the Account in law or otherwise.
    4. These Terms and Conditions may be amended or varied by Mombo iCapital from time to time and the continued use of the Services constitutes your agreement to be bound by the terms of any such amendment(s) or variation(s). Mombo iCapital will take all reasonable measures to notify you of any changes.
    5. From time to time updates to the App may be issued through the website. Depending on the update, you may not be able to use the Services until you have downloaded or streamed the latest version of the Application and accepted any new terms and conditions. By using the Application or any of the Services, you consent to us collecting and using technical information about the Equipment and related software, hardware and peripherals for Services that are internet-based or wireless to improve our products and to provide any Services to you. If you use these Services, you consent to us and our affiliates' and licensees' transmission, collection, retention, maintenance, processing and use of your data to determine our credit scoring services or to improve our Services and/or your experience while using the Application.


4. COMMUNICATION BETWEEN US

    1. If you wish to contact us in writing, or if any condition in these Terms and Conditions requires you to give us notice, you can send this to us by e-mail to support@mombo.africa or to such e-mail address that may be communicated to you from time to time. We will confirm receipt of this by contacting you in writing by e-mail.
    2. If we have to contact you or give you notice in writing, we will do so by e-mail or by SMS to the mobile phone number or email address you provide to us in your request for the Application.
    5. GRANT AND SCOPE OF LICENSE 1. In consideration of you agreeing to abide by the terms of this Agreement, we grant you a non-transferable, non-exclusive license to use the Application on your Equipment, subject to these Terms and Conditions. We reserve all other rights. Except as expressly set out in this Agreement or as permitted by any local law, you agree: not to rent, lease, sub-license, loan, translate, merge, adapt, vary or modify the Application;
    2. not to make alterations to, or modifications of, the whole or any part of the Application, or permit the Application or any part of it to be combined with, or become incorporated in, any other programs;
    3. not to disassemble, decompile, reverse-engineer or create derivative works based on the whole or any part of the Application or attempt to do any such thing except to the extent that such actions cannot be prohibited because they are essential for the purpose of achieving inter-operability of the Application with another software program, and provided that the information obtained by you during such activities:
    4. is not unnecessarily disclosed or communicated without our prior written consent to any third party; and is not used to create any software that is substantially similar to the Application;
    5. to include our copyright notice on all entire and partial copies you make of the Application on any medium; not to provide or otherwise make available the Application in whole or in part (including object and source code), in any form to any person without prior written consent from us; and
    6. to comply with all technology control or export laws and regulations that apply to the technology used or supported by the Application or any Service (Technology), together License Restrictions. You must:
    7. not use the Application or any Service in any unlawful manner, for any unlawful purpose, or in any manner inconsistent with this Agreement, or act fraudulently or maliciously, for example, by hacking into or inserting malicious code, including viruses, or harmful data, into the Application, any Service or any operating system;
    8. not infringe our intellectual property rights or those of any third party in relation to your use of the Application or any Service, including the submission of any material (to the extent that such use is not licensed by this Agreement); not transmit any material that is defamatory, offensive or otherwise objectionable in relation to your use of the Application or any Service;
    9. not use the Application or any Service in a way that could damage, disable, overburden, impair or compromise our systems or security or interfere with other users; and
    10. not collect or harvest any information or data from any Service or our systems or attempt to decipher any transmissions to or from the servers running any Service. Together Acceptable Use Restrictions.

6. INTELLECTUAL PROPERTY RIGHTS

    1. You acknowledge that all intellectual property rights in the App and the Technology anywhere in the world belong to us or our licensors, that rights in the Application are licensed (not sold) to you, and that you have no rights in, or to, the Application or the Technology other than the right to use each of them in accordance with the terms of this Agreement. You acknowledge that you have no right to have access to the Application in source-code form.

7. USE OF THE SERVICES

    1. The Services offered by Mombo iCapital can only be utilized by persons over the age of 18 years. Mombo iCapital reserves the right to verify the authenticity and status of your Mobile Money Account with the relevant Mobile Money Provider.
    2. Mombo iCapital acceptance of your application for an Account will be displayed on the Application. You hereby acknowledge and accept that the acceptance by Mombo iCapital of your application for an Account does not create any contractual relationship between you and the Mobile Money Providers beyond the terms and conditions that apply to your Mobile Money Account from time to time.
    3. Mombo iCapital reserves the right to decline your application for a loan or to revoke the same at any stage at Mombo iCapital sole and absolute discretion and without assigning any reason or giving any notice thereto.
    4. Mombo iCapital reserves the right (in its sole and absolute discretion) to issue, decline to issue a loan and/or vary the terms of any loan depending on its assessment of the credit profile of each individual borrower from time to time. The terms of the loan and the interest rate payable in relation to each loan application will be displayed on the Application.
    5. That further terms and conditions are applicable with relation to Mombo iCapital as per the loan offer letter.

8. PERSONAL INFORMATION

    1. You hereby agree and authorize Mombo iCapital to verify information provided by you against the information held by the Mobile Money Providers in relation to your Mobile Money Account pursuant to the agreement between you and the relevant Mobile Money Provider for the provision of its products and services and the Mobile Money Service. The information that Mombo iCapital may verify against the information held by the Mobile Money Providers includes (without limitation): your phone number, name, date of birth, Identification Number (“ID”) or Passport Number and such other information that will enable Mombo iCapital to identify you and comply with the regulatory “Know Your Customer” requirements (together the “Personal Information”).
    2. You hereby agree and authorize Mombo iCapital to verify information including, but not limited to, data relating to your phone (including, without limitation, your phone’s history) from your Equipment, from any SMS sent to you by the Mobile Money Providers and any financial services providers relating to your use of the Mobile Money Service and such other information as Mombo iCapital shall require for purposes of providing you the Services (the “Relevant Information”).
    3. You hereby consent to Mombo iCapital verifying the Personal Information and the Relevant Information with the Mobile Money Providers and using of the Personal Information and the Relevant Information to the extent necessary in the opinion of Mombo iCapital.
    4. You hereby agree and authorize Mombo iCapital to obtain and procure your Personal Information and Relevant Information from your respective Mobile Money Provider and you further agree and consent to the disclosure and provision of such Personal Information by the Mobile Money Provider and further to indemnify and hold Mombo iCapital and the Mobile Money Provider harmless with respect to any claims, losses, liabilities and expenses (including legal fees and expenses) that may arise as a result of the disclosure and reliance on such Personal Information and/or Relevant Information.
    5. You hereby agree and authorize Mombo iCapital to obtain and procure your Personal Information from the Credit Reference Bureaus and you further agree and consent to the disclosure and provision of such Personal Information by the Credit Reference Bureaus.
    Mombo iCapital reserves the right to request for further information from you pertaining to your application for an Account at any time. Failure to provide such information within the time required by Mombo iCapital may result in Mombo iCapital declining to accept your application for an Account.

9. REQUESTS MADE BY THE BORROWER

    1. You hereby irrevocably authorize, Mombo iCapital to act on all Requests received by it from you (or purportedly from you) through the System and to hold you liable in respect thereof. Mombo iCapital may nevertheless refuse to carry out any Requests in its sole and absolute discretion.
    2. Subject to its discretion, Mombo iCapital reserves the right to reject any Request in relation to a loan application from you even if you have previously been issued with a loan by Mombo iCapital.
    3. Mombo iCapital shall be entitled to accept and to act upon any Request, even if that Request is otherwise for any reason incomplete or ambiguous if, in its absolute discretion, Mombo iCapital believes that it can correct the incomplete or ambiguous information in the Request without any reference to you being necessary.
    4. Mombo iCapital shall be deemed to have acted properly and to have fully performed all the obligations owed to you notwithstanding that the Request may have been initiated, sent or otherwise communicated in error or fraudulently, and you shall be bound by any Requests on which Mombo iCapital may act if Mombo iCapital has in good faith acted in the belief that such instructions have been sent by you.
    5. Mombo iCapital may, in its absolute discretion, decline to act on or in accordance with the whole or any part of your Request pending further enquiry or further confirmation (whether written or otherwise) from you.
    6. You agree to and shall release from and indemnify Mombo iCapital against all claims, losses, damages, costs and expenses howsoever arising in consequence of, or in any way related to Mombo iCapital having acted in accordance with the whole or any part of any of your Requests (or failed to exercise) the discretion conferred upon it.
    7. You acknowledge that to the full extent permitted by law Mombo iCapital shall not be liable for any unauthorized drawing, transfer, remittance, disclosure, any activity or any incident on your account by the fact of the knowledge and/or use or manipulation of your Account PIN, password, ID or any means whether or not occasioned by your negligence.
    8. Mombo iCapital is authorized to effect such orders in respect of your Account as may be required by any court order or competent authority or agency under the applicable laws.
    In the event of any conflict between any terms of any Request received by Mombo iCapital from you and this Agreement, this Agreement shall prevail.

10. SERVICE CHARGE AND FEES

    1. The service charge payable by you to Mombo iCapital in relation to any Loan shall be displayed by Mombo iCapital on the loan offer letter. Mombo iCapital shall be entitled to set and charge service fees, in connection with your use of the Services and from time to time amend or vary any fees for the Services. If Mombo iCapital opts to start charging fees or where already applicable, vary or amend its fees, the fees payable on any new application for Services will be displayed on the Application. Mombo iCapital will use reasonable endeavors to try notify you of any changes in relation to fees within a reasonable period before such changes are implemented including displaying notices of the changes on the App or Mombo iCapital website.
    2. All payments to be made by you under this Agreement shall be made in full without any set off or counter claim and save in so far as required by the law to the contrary, free and clear of and without any deduction or withholding whatsoever. If you are at any time required to make any deduction or withholding from any payment to Mombo iCapital, you shall immediately pay to Mombo iCapital such additional amounts as will result in Mombo iCapital receiving the full amount it would have received had no such deduction or withholding been required.
    3. If you fail to make any payments due to Mombo iCapital at the due date for payment, Mombo iCapital will be authorized to apply late fees on such amount loaned to you at a rate to be communicated to you.

11. STATEMENTS

    1. A statement and activity report in respect of your Account will be made available on Request. Requests shall be made via our e-mail address support@mombo.africa or via a contact link on the Application.
    2. The statement on the Application shall provide details of the last 4 (four) transactions (or such other number of transactions as determined by Mombo iCapital) in your Account initiated from your Equipment.
    3. Your statement will show all amounts added or taken from your Account. You must check your statement carefully and notify Mombo iCapital as soon as possible if it includes any transaction or other entry which appears to you to be wrong or not made in accordance with your instructions.
    4. Mombo iCapital reserves the right to rectify discrepancies, add and/or alter the entries in your statements, without prior notice to you. Mombo iCapital will however inform you of any rectification, additions and or alterations effected on your statements within a reasonable time after the changes are effected.
    5. You will be notified of all transactions on your Account by way of SMS and the charges for this service will be debited to your Account.
    6. Save for a manifest error, a statement issued to you in respect of your Mombo iCapital Account shall be conclusive evidence of the transactions carried out on your Mombo iCapital Account for the period covered in the statement.

12. TAXES

    1. All payments to be made by you in connection with these Terms and Conditions are calculated without regard to any taxes payable by you. If any taxes are payable in connection with the payment, you must pay Mombo iCapital an additional amount equal to the payment of the appropriate rate of tax. You must do so at the same time of making the payment.
    2. You hereby consent and agree that Mombo iCapital may withhold amounts in your Account if any tax authority requires Mombo iCapital to do so, or Mombo iCapital is otherwise required by law or pursuant to agreements with any tax authority to do so, or if Mombo iCapital needs to comply with internal policies or with any applicable order or sanction of a tax authority.

13. BORROWER’S RESPONSIBILITIES

    1. You shall at your own expense provide and maintain in safe and efficient operating order your Equipment necessary for the purpose of accessing the System and the Services. 2. You shall be responsible for ensuring the proper performance of your Equipment. Mombo iCapital shall neither be responsible for any errors or failures caused by any malfunction of your Equipment, and nor be responsible for any computer virus or related problems that may be associated with the use of the System, the Services and the Equipment. You shall be responsible for charges due to any service provider providing you with connection to the Network and Mombo iCapital shall not be responsible for losses or delays caused by any such service provider.
    3. You shall follow all instructions, procedures and terms contained in this Agreement and any document provided by Mombo iCapital concerning the use of the System and the Services.
    4. You hereby agree and acknowledge that you shall be solely responsible for the safekeeping and proper use of your Equipment and for keeping your Credentials secret and secure.
    5. You shall ensure that your Credentials do not become known or come into possession of any unauthorized person. Mombo iCapital shall not be liable for any disclosure of your Credentials to any third party and you hereby agree to indemnify and hold Mombo iCapital harmless from any losses resulting from any disclosure of your Credentials.
    6. You shall take all reasonable precautions to detect any unauthorized use of the System and the Services. To that end, you shall ensure that all communications from Mombo iCapital are examined and checked by you or on your behalf as soon as practicable after receipt by you in such a way that any unauthorized use of and access to the System will be detected. You shall immediately inform Mombo iCapital in the event that:
    7. You have reason to believe that your Credentials are or may be known to any person not authorized to know the same and/or have been compromised; and/or
    8. You have reason to believe that unauthorized use of the Services has or may have occurred or could occur and a transaction may have been fraudulently input or compromised.
    9. You shall at all times follow the security procedures notified to you by Mombo iCapital from time to time or such other procedures as may be applicable to the Services from time to time. You acknowledge that any failure on your part to follow the recommended security procedures may result in a breach of your Account’s confidentiality. In particular, you shall ensure that the Services are not used or Requests are not issued or the relevant functions are not performed by anyone other than a person authorized to do so.
    10. You shall not at any time operate or use the Services in any manner that may be prejudicial to Mombo iCapital.

14. DEFAULT ON LOAN

    1. In the event default (Event of Default) occurs when you fail to pay any sum payable for a Loan granted under these Terms and Conditions for a period of ninety (90) consecutive days unless failure to pay is caused solely by an administrative error or technical problem; or you are declared bankrupt. At any time after an Event of Default has occurred which is continuing, Mombo iCapital may, without prejudice to any other right or remedy granted to it under any law: terminate this Agreement and declare that the Loan (and all accrued service fees) and all other amounts outstanding under this Agreement is immediately due and payable, whereupon they shall become immediately due and payable; and supply information concerning the Event of Default to Credit Reference Bureaus.

15. VARIATION AND TERMINATION

    1. Mombo iCapital may at any time, upon notice to you, terminate or vary its business relationship with you and close your Account and in particular but without prejudice to the generality of the foregoing Mombo iCapital may cancel credits which it has granted and require the repayment of outstanding debts resulting from such credits within such time as Mombo iCapital may determine.
    2. If you use the Account for unauthorized purposes or where Mombo iCapital detects any abuse/misuse, breach of content, fraud or attempted fraud relating to your use of the Services;
    3. If your Account or agreement with a Mobile Network Operator is terminated for whatever reason;
    4. If Mombo iCapital is required or requested to comply with an order or instruction of or a recommendation from the government, court, regulator or other competent authority;
    5. If Mombo iCapital reasonably suspects or believes that you are in breach of these Terms and Conditions (including non-payment of any Loan amount due from you where applicable) which you fail to remedy (if remediable) within fourteen(14) days after the service of notice by email, SMS or other electronic means requiring you to do so;
    6. Where such a suspension or variation is necessary as a consequence of technical problems or for reasons of safety; to facilitate update or upgrade the contents or functionality of the Services from time to time; where your Account becomes inactive or dormant;
    7. If Mombo iCapital decides to suspend or cease the provision of the Services for commercial reasons or for any other reason as it may determine in its absolute discretion; or
    8. If you breach any of the License Restrictions or the Acceptable Use Restrictions
    9. If your Account has a credit balance at any time as a result of overpayment of your Loan, you may issue a Request to Mombo iCapital for payment of such credit balance and Mombo iCapital will return any such balance to you, less any applicable fees or charges, provided that such amount falls above the minimum transfer amounts specified by the relevant Mobile Money Provider.
    10. Termination shall however not affect any accrued rights and liabilities of either party.
    11. If Mombo iCapital receives notice of your demise, it will not be obliged to allow any operation or withdrawal from your Account by any person except upon production of letters of administration from a competent authority or confirmed grant of letters of administration or confirmed grant of probate by your legal representatives duly appointed by a court of competent jurisdiction.

16. EXCLUSION OF LIABILITY

    1. Mombo iCapital shall not be responsible for any loss suffered by you should the Services be interfered with or be unavailable by reason of the failure of any of your Equipment, or any other circumstances whatsoever not within its control including, without limitation, Force Majeure or error, interruption, delay or non- availability of the System, terrorist or any enemy action equipment failure, loss of power, adverse weather or atmospheric conditions, and failure of any public or private telecommunications system.
    2. You acknowledge that the Application has not been developed to meet your individual requirements, and that it is therefore your responsibility to ensure that the facilities and functions of the Application as described meet your requirements.
    3. We only supply the Application for domestic and private use. You agree not to use the Application and Documents for any commercial, business or resale purposes, and we have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.
    4. Mombo iCapital will not be liable for any losses or damage suffered by you as a result of or in connection with:
    5. if the defect or fault in the Application or any Service results from you having altered or modified the Application;
    6. if the defect or fault in the Application results from you having used the Application in breach of the terms of this Agreement;
    7. if you breach any of the License Restrictions or the Acceptable Use Restrictions; unavailability of sufficient funds in your Mobile Money Account; failure, malfunction, interruption or unavailability of the System, your Equipment, the Network or a Mobile Money System; the money in your Account being subject to legal process or other encumbrance restricting payments or transfers thereof; your failure to give proper or complete instructions for payments or transfers relating to your Account; any fraudulent or illegal use of the Services, the System and/or your Equipment; or your failure to comply with these Terms and Conditions and any document or information provided by Mombo iCapital concerning the use of the System and the Services.
    8. Under no circumstances shall Mombo iCapital be liable to you for any loss of profit or anticipated savings or for any indirect or consequential loss or damage of whatever kind, howsoever caused, arising out of or in connection with the Services even where the possibility of such loss or damage is notified to Mombo iCapital.
    9. All warranties and obligations implied by law are hereby excluded to the fullest extent permitted by law.

17. INDEMNITY

    1. In consideration of Mombo iCapital complying with your instructions or Requests in relation your Account, you undertake to indemnify Mombo iCapital and hold it harmless against any loss, charge, damage, expense, fee or claim which Mombo iCapital suffers or incurs or sustains thereby and you absolve Mombo iCapital from all liability for loss or damage which you may sustain from Mombo iCapital acting on your instructions or requests or in accordance with these Terms and Conditions.
    2. The indemnity shall also cover the following:
    3. All demands, claims, actions, losses and damages of whatever nature which may be brought against Mombo iCapital or which it may suffer or incur arising from its acting or not acting on any Request or arising from the malfunction or failure or unavailability of any hardware, software, or equipment, the loss or destruction of any data, power failures, corruption of storage media, natural phenomena, riots, acts of vandalism, sabotage, terrorism, any other event beyond Mombo iCapital’s control, interruption or distortion of communication links or arising from reliance on any person or any incorrect, illegible, incomplete or inaccurate information or data contained in any Request received by Mombo iCapital.
    4. Any loss or damage that may arise from your use, misuse, abuse or possession of any third party software, including without limitation, any operating system, browser software or any other software packages or programs.
    5. Any unauthorized access to your Account or any breach of security or any destruction or accessing of your data or any destruction or theft of or damage to any of your Equipment.
    6. Any loss or damage occasioned by the failure by you to adhere to these Terms and Conditions and/or by supplying of incorrect information or loss or damage occasioned by the failure or unavailability of third party facilities or systems or the inability of a third party to process a transaction or any loss which may be incurred by Mombo iCapital as a consequence of any breach by these Terms and Conditions.
    7. Any damages and costs payable to Mombo iCapital in respect of any claims against Mombo iCapital for recompense for loss where the particular circumstance is within your control.

18. GENERAL

    1. Remedies Cumulative 1.1. No failure on the part of any party to exercise, or delay on its part in exercising, any right, power or remedy provided by this Agreement or by law shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any further or other exercise of that, or any other, right, power or remedy.
    2. No waiver 2.1. No failure by Mombo iCapital to exercise, and no delay in exercising, any right or remedy in respect of any provision of this Agreement shall operate as a waiver of such right or remedy.
    3. Effect of invalidity 3.1. If any provision or part of a provision of this Agreement shall be, or be found by any court of competent jurisdiction to be, invalid or unenforceable, such invalidity or unenforceability shall not affect the other provisions or parts of such provisions of this Agreement, all of which shall remain in full force and effect.

19. ENTIRE AGREEMENT

    1.1. These Terms and Conditions and our Privacy Policy constitute the entire Agreement between you and us and supersede and extinguish all previous agreements, promises, assurances, warranties, representations and understandings between us, whether written or oral, relating to its subject matter.
    1.2. You acknowledge that in entering into this Agreement you do not rely on any statement, representation, assurance or warranty (whether made innocently or negligently) that is not set out in these Terms and Conditions or our Privacy Policy.
    1.3. You and we agree that neither of us shall have any claim for innocent or negligent misrepresentation or negligent misstatement based on any statement in this Agreement.

20. DISPUTE RESOLUTION

    1. Effect of invalidity
      1.1. The Parties shall use their good faith efforts to resolve any dispute, controversy or claim of any nature whatsoever arising out of or in relation to or in connection with this Agreement. To this end, the Parties in dispute shall each promptly appoint representatives of appropriate standing who shall meet and attempt to resolve any dispute between them. In the event that an amicable settlement has not been reached within thirty (30) days of the parties’ representatives meeting as aforesaid, the following provisions of this clause 20 shall apply.

    2. Arbitration
      2.1. Any dispute, difference or question whatsoever and howsoever arising out of or in connection with this Agreement, save as specifically provided herein, shall be referred for final determination to a single arbitrator to be appointed by agreement between the parties hereto or in default of any such agreement within thirty (30) days of the notification of any dispute by either party to the other then, upon application by either party.
      2.2. To the extent permissible by law the determination of the arbitrator shall be final and binding upon the Parties and shall not be subject to any appeal.
      Nothing in this clause shall restrict either Party’s freedom to commence legal proceedings of any nature for the purposes of seeking preliminary injunctive relief or interim or conservatory measures from any court of competent jurisdiction pending the final decision or award of any arbitrator.

21. GOVERNING LAW

    1. This Agreement shall be governed by and construed in accordance with the laws of Kenya.