Terms and conditions.

These terms and conditions summarizes the principle terms of the mobile credit facility by the

lender. Operation of the facility will require completion of the lenders prescribed

documentation from time to time, in accordance with the current practices of the lender.

GRANTING OF CREDIT FACILITIES

Liberty Afrika technologies Limited (herein referred to as “The Lender) may approve or

decline an application for the facility at its sole discretion. Nothing in the provision of the

clauses contained herein will prevent The Lender from declining to advance the facilities for

any reason whatsoever, including limitations, imposed upon The Lender by any law or

regulatory body. The Lender hereby retains the sole and absolute discretion to cancel any

approval of the facility.

HOW TO ACCESS THE FACILITY

Once the facility is approved by the lender, The Lender will notify the Applicant and provide

instructions on how to access the funding. The applicant (BORROWER) will access the facility

by sending an SMS to a short code provided by the lender. The applicant will receive

confirmation message and further communication through SMS.

CREDIT LIMIT APPROVAL

The lender shall only approve credit limits as per the Lenders Guidelines in line with the

Kenyan Law (Employment Act (Cap.229) or such amounts that the lender shall approve from

time to time. To protect The Lender, the Employee authorizes the Employer to deduct the full

amount shown on the statement, on or before the end of every month, clearly indicating the

amounts owing to the lender.

REPAYMENT (Salary Advance)

It is understood that the applicant shall repay the amounts requested and debited in the

applicants account plus the facility fee shown on the monthly statement submitted to the

Applicants employer by The Lender. The Employer shall through check-off, deduct from the

Applicants salary the full amount shown in such a statement. The applicant will qualify for the

following month’s loan facility when The Lender receives repayment from the Employer.

REPAYMENT (Instant Loan Facility)

It is understood that the applicant shall repay the amounts requested and debited in the

applicants account plus the facility fee, which accrues on a daily basis as shown on the

statement submitted to the Applicant. The applicant is required to submit the amounts as due

latest 2 (two) days after receipt of that month’s salary

REPAYMENT PERIOD (Salary Advance)

The facility shall be repayable within thirty days after receipt of the funds, or as the lender

shall advise, depending on the amounts borrowed. The Lender reserves the right to determine

the repayment period for the amounts borrowed.

REPAYMENT PERIOD (Instant Loan Facility)

The facility shall be repayable anytime the applicant wishes to, as long as it is within the

utilization period as agreed which runs between one payroll period to the other. The latest

agreeable day to settle this amounts will be the 2nd day after receipt of salary.

FEES

The Lenders fees shall be advised at the time of registration. The Salary advance facility will

bear a facility fee of 7% per month while the Instant Loan Facility will bear a facility fee

starting from 0.6% per day for the utilization period until the loan is cleared. The Lender

reserves the right to revise the fees chargeable, and notices shall be given to the Applicant

before the facility is processed and before any drawdowns are made.

OTHER CHARGES AND EXPENSES

The Applicant agrees that the lender may recover from the Applicant any costs fees,

penalties, over dues, and any other charges that might accrue from this facility.

DISCLOSURE OF INFORMATION.

The Applicant hereby consents to the receipt, sharing, provision and exchange of data with

credit reference bureau/rating agencies/Applicants employer/ licensed financial institutions

and/or the appointed agents of the lender and/or the lenders referees for such purpose as

The Lender deem appropriate or as may be required under any provision of law.

AUTHORIZATION.

The applicant hereby authorizes The Lender to instruct the Employer to make all deductions

for the amounts owing to The Lender at the end of every payroll month, for the duration of the

repayment period. This authorization shall remain in force as far as the Applicant has an

outstanding amount owing to The Lender.

VARIATION.

The Lender shall advise the Applicant of any change in fees, charges or any other fees by

notice through their employer, or by SMS alert. The applicant is deemed to have received

notification of change twenty-four (24) hours after release of such notice. CESSATION OF

EMPLOYMENT

The Applicant also agrees to notify The Lender in writing within seven (7) days of termination

of employment with current Employer for whatever reason.

The applicant shall notify the lender of any impending cessation of Employment within 48

hours of the Applicants knowledge of the impending Cessation.

INDEMNITY:

The Applicant agrees to full indemnify The Lender against all costs and expenses (including

legal fees) arising in any way in connection with the Applicants accounts, these terms and

conditions, or in recovering any amounts due to the lender or incurred by the Applicant in

any legal proceedings of whatever nature.

BREACH:

The Lender shall be entitled to terminate this agreement if the Applicant is in breach of

his/her obligations under the agreement provided that such termination shall be without

prejudice to any incurred rights and obligations either party may have against the other at

the time of termination. The Lender reserves the right to engage third party debt collectors to

recover any outstanding balance at the Applicants costs.

TERMINATION OF AGREEMENT.

The Applicant can terminate the agreement at any time by writing to Liberty Afrika

Technologies Limited provided that there are no outstanding amounts owed to The Lender.

The Lender shall upon such notice to terminate assist the Applicant with the proper

termination documentation.

SOFTWARE.

All intellectual property inherent in the software and other solutions provided by The lender

under this agreement (including improvements and upgrades thereto) shall remain the sole

and exclusive property of The Lender. The Applicant hereby agrees not to interfere with, or

manipulate in any way the lenders software or systems.

NOTICES.

Any notices to be given for the purposes of this agreement shall either be delivered by text

message, or electronic mail to the last known contacts of the Applicant and with the

applicant being non-responsive, the provided contact of the proposed next of kin. Any such

notices shall be deemed to have been received twenty-four (24) hours after their dispatch.

GOVERNING LAW

The construction, validity and performance of this Agreement shall be governed in all

respects by the laws of Kenya. The Applicant irrevocably agrees for the exclusive benefit of

The Lender that the courts of the republic of Kenya shall have jurisdiction to hear and

determine any suit action or proceeding, and to settle any disputes, which may arise out of

or in connection with this agreement and for such purposes hereby irrevocably submits to the

jurisdiction of such courts.

VERIFICATION OF INFORMATION.

The Applicant hereby confirms that the Bank Account number & phone number provided to

the lender is owned by the Applicant, is in the Applicants control and any communication

from and to the said phone number is and shall be within the Applicants knowledge and

control. The Applicant hereby agrees and authorizes The Lender to obtain and/or verify

personal information and/ or data from relevant Bank & telecommunications service provider

and/or government agency pertaining to the Applicant and ownership of the Bank Account

& phone number provided to The Lender and any other phone number(s) that may be

registered under the Applicants name. The Applicant consents to disclosure by such Banks &

telecommunications service provider and/or government agency of such information and

subsequent reliance on the information by The Lender.

OKOA WALLET TERMS AND CONDITIONS.

Okoa wallet is a virtual account created by Liberty Afrika Technologies for end users to hold

and or transfer funds to third party service providers in form of mobile money or bank

transfers.

USERNAME AND PASSWORD INFORMATION:

You are responsible for:

(a) maintaining the confidentiality of your username and password,

(b) any and all transactions by persons that you give access to or that otherwise use such

username or password,

to notify us immediately of any unauthorized use of your username or password or any other

breach of security regarding the Services of which you have knowledge.

(d)You are responsible for any fees charged by your telecommunications provider, or any

other third party in connection with your use of Okoa Mobile Wallet.

IRREVOCABLE AUTHORITY

(i) You hereby irrevocably authorize Liberty Afrika Technologies Limited to act on all requests

received from you (or purportedly from you) through the System and to hold you liable in

respect thereof, notwithstanding that any such requests are not authorized by you.

(ii) If you request Liberty Afrika Technologies Limited to cancel any transaction or instruction

after a request has been received from you, Liberty Afrika Technologies Limited may at its

absolute discretion cancel such transaction or instruction but shall have no obligation to do

so.

EXCLUSION OF LIABILITY

Liberty Afrika Technologies Limited 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.

Liberty Afrika Technologies Limited will not be liable for any losses or damage suffered by you

as a result of or in connection with: -

(a) unavailability of sufficient funds in your Okoa Wallet Account.

(b) failure, malfunction, interruption or unavailability of the System, your Equipment, the

Network, M-PESA System and/or other integrated banking Service;

encumbrance restricting payments or transfers thereof;

(d) your failure to give proper or complete instructions for payments or transfers relating to

your Okoa Wallet Account;

(e) any fraudulent or illegal use of the Services, the System and/or your Equipment; or

(f) Your failure to comply with these Terms and Conditions and any document or information

provided by Liberty Afrika Technologies Limited concerning the use of the System and the

Services.

(g) Under no circumstances shall Liberty Afrika Technologies Limited be liable to you for any

loss of profit or 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 Liberty Afrika Technologies Limited.

VARIATION AND TERMINATION OF RELATIONSHIP

LATL may at any time, upon notice to you, terminate or vary its business relationship with you,

and in particular LATL may cancel or call in Loans which it has granted and require the full

repayment of outstanding debts resulting therefrom within such time as LATL may determine.