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We’re happy to announce Zenka as the first company from Africa to offer Forward Flow to investors on Mintos.
Forward Flow is a new and unique product in the crowdlending market. A Forward Flow represents a commitment to invest in a set of pre-agreed underlying loans, at a predetermined rate for a given period of time. For the duration of the Forward Flow, investors receive weekly interest payments based on the performance of these underlying loans.
Zenka Forward Flows will start with maturity from 6 months, and interest rates of up to 17% which is higher than the average interest rate for existing Zenka loans available for investment.
To obtain exposure to Forward Flows offered by Zenka, investors will be able to invest in loans issued by Mintos Finance to Zenka. In accordance with agreements concluded by Mintos Finance and Zenka, the loans will be secured by a pledge over part of the claim receivables of Zenka to its borrowers. Mintos Finance is a Mintos group company. A detailed description of the structure is available in the Mintos Finance loan agreement and assignment agreement.
Zenka Finance is a fintech company set up in December 2018 to provide personal flexible loan products. The typical clients of Zenka are men – educated, aged 25-45, running their own business or employed in the public or private sectors and living in the Nairobi region in Kenya.
In 2019, Zenka won the most preferred non-banking platform award as well as the runner-up award for the fastest growing non-banking loan platform in Kenya and was also voted the Most Promising Mobile Loans Platform.
Zenka joined Mintos in September 2019.