Starting from August 23, 2019, there will be a new structure for investing in Zambia-issued ExpressCredit loans on the Mintos marketplace. The change has been implemented due to the requirements of local legislation.
To obtain exposure to ExpressCredit loans issued in Zambia, investors will be able to invest in claims arising from loans issued by YesCash Zambia Ltd in Zambia (an ExpressCredit Group company) and further sold to ExpressCredit Holding AS (an ExpressCredit Group company).
What does this mean for Mintos investors?
For investors who have outstanding investments in ExpressCredit Zambia loans, current agreements remain active and binding.
Because the repayment source of claims remain unchanged and depends on YesCash Zambia Ltd borrower’s payments, current Auto Invest settings for investing in claims from ExpressCredit Holding AS will remain valid for loans placed on the marketplace under the new structure. If the change in investment structure affects your investment preferences, please be sure to adjust your Auto Invest settings accordingly.