Econet Group

Kashagi Terms and Condition


In this agreement unless the context clearly indicates a contrary intention the words herein below defined shall have the meanings assigned to them and similar expressions shall bear corresponding meanings:

1.1 “Bank” means Steward Bank Limited of 2nd Floor, 101 Union Avenue Building, 101 Kwame Nkrumah Avenue, Harare or any of its branches within Zimbabwe.

1.2 “KASHAGI Account Holder” means any person registered as an EcoCash wallet holder.

1.3 “Equipment” includes mobile phone handset, SIM Card and /or other equipment which when used together enables the mobile banking services customer to access the network.

1.4 “Charges” means the KASHAGI loans charges and any other charges pertaining to the provision of the KASHAGI loans Services, described to the customer as detailed in the Tariff schedule from time to time.

1.5 “Parties” means the Bank and the Customer.

1.6 “Agreed Rate” means the rate of interest per month which will be indicated as per tariff schedule

1.7 “We,” “our,” and “us,” means the Bank and include the successors and assigns of the Bank.

1.8 “You” or “your” means the Customer and includes the personal representatives of the Customer.

1.9 The word “Customer” shall include both the masculine and feminine gender as well as juristic persons.


2.1 The Agreement shall commence upon acceptance of the terms and conditions and approval of the KASHAGI loans application by the Bank.

2.2 The customer shall be deemed to have read, understood and accepted the KASHAGI loans terms and conditions:

   2.2.1 On clicking “accept” option of the KASHAGI loans menu requesting you to confirm that you have read, understood and agreed to abide with Terms and Conditions.

   2.2.2 Using and continuing to use and operate the *151# menu.

   2.2.3 By applying to access the KASHAGI loans offered by Ecocash, you agree to be bound by the terms and conditions and that the terms and conditions herein are without prejudice to any right that the Bank or Ecocash may have with respect to the KASHAGI loans in law or otherwise.

   2.2.4 The Terms and Conditions may be amended or varied by the parties from time to time and continued use of your *151# constitutes your agreement to be bound by the terms or any amendment or variation.


3.7 Subject to terms and conditions, an ECOCASH wallet holder may apply for KASHAGI loan from the Bank using * *151# menu on your equipment.

3.8 The loan application shall be appraised electronically.

3.9 Ecocash reserves the right at their sole discretion and without assigning any reason to approve or decline your application for a loan.

3.10 Subject to approval of your application for a loan, Ecocash shall disburse to you a loan amount based on discretion and subject to the deduction of a handling fee of 10% of the loan amount.

3.11 The Loan amount shall be disbursed and credited into the customer’s ECOCASH wallet, less the applicable handling fees.

3.12 You shall repay the loan in over 30 calendar days from the date of disbursement of the loan or any such time as may be stipulated by Ecocash from time to time based on the amount loaned.

3.13 You shall pay the applicable fees in advance and all repayments due shall be made automatically from the Ecocash menu.

3.14 In the event that the loan is not paid up in full within 90 calendar days of the date of disbursement, the parties will automatically enact a penalty fee of 3% of the loan amount per month. The penalty fee will be compounded monthly.

3.15 All amounts received by Ecocash will be first apportioned towards overdue interest, charges or fees. Any balance left thereafter will be appropriated lastly towards principal.


Without detracting from any of the other provisions of this Agreement, Ecocash shall not be liable to the Customer for any loss or damage suffered by the customer, whether direct or consequential, in any circumstance.


6.1 You shall not duplicate, reproduce or in any way tamper with KASHAGI loans feature and associated documentation without the prior written consent of the parties


7.1 This agreement shall be governed by, construed or otherwise interpreted in accordance with the laws of Zimbabwe.

7.2 The parties shall comply with all applicable laws and governmental regulations issued from time to time. None of the parties is authorized or otherwise expected to take any action in the name of or otherwise on behalf of the other which would violate applicable laws and regulations, and any such representation shall be null and void.

7.3 The Customer hereby submits to the jurisdiction of the Magistrates Court in the event of any dispute leading to litigation arising out of matters in terms of this contract or connected thereto, and in any such event, the customer, if found liable, shall be obliged to pay the parties costs at the legal practitioner - client scale, and any and all other costs and collection commission incidental thereto and so charged.

7.4 Ecocash may at any time upon notice to you terminate the KASHAGI loans service.


The Customer shall keep all knowledge and information acquired or supplied by Ecocash in terms of this agreement as confidential. All such information disclosed by either party during the term of this agreement shall be regarded as confidential unless expressly stated otherwise by the disclosing party and shall not be disclosed to third parties, or used for any other purpose other than for which it was disclosed, without prior written consent of the disclosing party, provided that such information shall not be regarded as confidential if:

8.1 it was the position of or known to the receiving party or disclosure thereof by the disclosing party other than pursuant to a breach by the receiving party of its obligation in terms of this clause; or ;

9.7 In the event of any one or more of these terms and conditions being unenforceable, same will be deemed to be severable from the remainder of this Agreement, which will nevertheless be binding and enforceable.

9.8 Each of the Parties choose domicilium citandi et executandi (“domicilium”) for the purpose of the giving of any notice, the serving of any process and for any purpose arising from the Agreement at their respective addresses stated in the Nano Loans Terms and Conditions as well as this Agreement.

9.9 Each of the Parties shall be entitled from time to time by written notice to the other to vary its domicilium to any other address within Zimbabwe which is not a Post Office box or Poste Restante.


2.2.2 Using and continuing to use and operate the *236# and *151# menu, or any other platform through which the Bank provides KASHAGI loans from.

2.2.3 By applying to access the KASHAGI loans offered by the Bank, you agree to be bound by the terms and conditions and that the terms and conditions herein are without prejudice to any right that the Bank may have with respect to the KASHAGI loans in law or otherwise.

2.2.4 The Terms and Conditions may be amended or varied by the Bank from time to time and your continued use of *236# or *151# or any other platform or channel where KASHAGI loans can be accessed constitutes your agreement to be bound by the terms and conditions as amended or varied from time to time.


3.1 The existing and prospective KASHAGI loans Customer must be at least 18 years old and be a registered STEWARD BANK ACCOUNT HOLDER or ECOCASH wallet holder. The parties have the right to request further information from you pertaining your application and even during tenure of your KASHAGI loan.

3.2 You access your KASHAGI loan by way of an electronic application made by you using your Equipment via *151# Menu and any other channel that the parties may specify.

3.3 You hereby consent to the disclosure of personal information from any source to the parties including information held by Credit Reference Bureau and the Registrar Generals Officer.

3.4 Acceptance by the parties of your application for your KASHAGI loan does not create any contractual relationships between you and the parties beyond the terms and conditions that apply to your KASHAGI loan from time to time.

3.5 The parties have the right to decline your application or to revoke the same at any stage at its sole discretion and without assigning any reason or giving any notice thereto.

3.6 The KASHAGI minimum application amount is $USD 5 and the maximum is $USD 20. This may be reviewed from time to time. The parties will advise the Customer of any change in minimum lending rates, charges, or fees by publication of a notice in a local or national newspaper or by notice at its branches in Zimbabwe or by statement messaging. The Customer understands and agrees that Ecocash is not obliged to obtain the Customer’s signature for receipt of such communication.

3.16 Ecocash has the right to vary the terms of the loan including fees payable thereon relative to market changes and other regulatory provisions.

3.17 The parties have the right to set off your outstanding loan amount with the credit balances held in any of your Bank accounts or Ecocash wallet or any other regulated wallet.

3.18 You hereby expressly consent and authorise the parties to make inquiries from any bank, financial institution or approved credit reference bureau to confirm any information you will have provided to the parties; seek information from any Bank financial institution or approved credit reference bureau, or to disclose, respond and advise and communicate information relating to your account maintained at the Bank to approved credit reference bureaus or regulatory authorities or any authorised agencies at Law.


The parties may at any time, and upon giving notice to the customer where possible, suspend its provision of KASHAGI loans Services to the customer in the event that:

4.1 Any modification, maintenance, or remedial work is required to be undertaken pertaining to any matter whatsoever to the KASHAGI loans Application Service Platform or the Network.

4.2 The customer fails to perform any of his obligations or breaches any term of this agreement.

8.2 it is or becomes publicly known otherwise that pursuant to breach of its obligation in terms of this clause by the receiving party; or

8.3 The receiving party is required, pursuant to the order of a court of competent jurisdiction or otherwise as authorized by law to disclose such information.

8.4 The obligations of the parties in terms of this clause shall survive any termination of this agreement.


9.1 In the event of the customer failing to effect payment of any amount owing to Ecocash on due date, then without derogating from the parties’ rights, the customer shall be liable to effect payment of Interest to Ecocash, or whomever is instructed to pursue the debt on the party (is) behalf, on the amount owing at the agreed rate.

9.2 All prices and charges set out in this Agreement and/or Tariff Schedule are inclusive of any applicable Tax, the liability for which shall vest with the customer.

9.3 The rights and obligation of the customer in terms of this Agreement may not be ceded or delegated by it to any third party. The rights and obligations of Ecocash in terms of this Agreement, may be ceded and delegated by it to any other party, to the extent permitted by law, on a written notice to the customer.

9.4 This document contains the entire Agreement between the Parties regarding the matters contained herein irrespective of whether such undertakings, representation or warranties have been made and approved by the Bank or Ecocash.

9.5 No indulgence, leniency or extension of time, which the Bank or Ecocash show to the customer, shall in any way prejudice it from exercising any of this right in the future.

9.6 A certificate under the hand of any managers of the Bank or Ecocash certifying the amount owing by the customer shall be prima facie proof of its contents and sufficient proof for the purpose of enabling the Bank or Ecocash to obtain any judgement or order against the customer.




Kashagi Terms and Condition

2nd Floor, 79 Livingstone Avenue,

Corner 7th Street



Tel: +2638677020267