Definitions
a. “Bonus” means an additional amount as provided in these terms and Zenka App, which the customer receives from Zenka after meeting the conditions described in these terms.
b. “Customer” means a natural person, who has successfully registered with Zenka obtaining a unique code assigned to them; and has concluded or intends to conclude a loan agreement with Zenka.
c. “Friend” means the natural person who received invitation from the Customer to MGM.
d. “MGM” (Referral program) means the member get member program which is aimed at incentivizing the existing customers of Zenka to enroll third parties (including Friends and Participants).
e. “Participant” means the adult natural person who took part or is planning to take part in MGM.
f. “Privacypolicy” means the policy of Zenka relating to how it manages its data as made available under the addresses https://zenka.co.ug/zenka-finance-limited-terms-and-conditions/ and https://zenka.co.ug/zenka-finance-limited-privacy-policy/.
g. “Profile” means individual profile of the Customer created on Zenka App.
h. “Terms” mean this terms and conditions concerning MGM.
i. “Zenka” means Zenka Finance LTD with its registered office in Kampala, Uganda.
j. “Zenka App” means Zenka’s mobile application used to apply for a loan offered by Zenka.
General
These Terms apply to Friends, Participants of MGM and Customers. If you decide to participate in MGM, the regulations of these Terms and the Privacy policy shall apply.
How does it work
MGM is intended for Customers that downloaded the Zenka App and decided to recommend the service offered by Zenka to their Friends. Customers can make recommendations by sharing their unique code with their Friends and the Friends shall use the unique code provided by Zenka for registering their own account with Zenka.
Each of the Customers may share their unique code in two ways:
a. By checking what their unique code is on Zenka App and advising a Friend to use it during registration (by inputting it in an optional field during registration); or
b. By clicking on the INVITE A FRIEND button on personal account view on Customer profile in Zenka App, which will automatically generate a referral link with the unique code. The link can be sent via available communicators such as SMS or messenger.
In both instances, the Friend should download Zenka App on their mobile phone to facilitate the registration for Zenka’s services. In the case of clause 3.2(a), the Friend also has the option to initiate the application by using the USSD number.
Thereafter, when the invited Friend receives the specially prepared link referred to in clause 3.2.(b) he/she should click on the link, and the code will be prefilled for them on registration with Zenka App. The Friend should then apply for the first loan offered by Zenka via the Zenka App.
When the loan referred in point 3.4. is granted and received by the Friend and the Friend becomes the Customer; and it is paid on time without delay by this Friend – the Customer who referred Zenka’s services to this Friend will receive a Bonus as provided in these Terms.
The Bonus amount also depends on how many loans the Friends have cumulatively repaid in accordance with the parameters set out in Zenka App.
The Customer can access the Zenka App to see the amount of received and used Bonus.
The Customer may use the Bonus to pay the interest on their current Zenka loan if they have an active loan. Alternatively, the Customer may request to withdraw the Bonus to their electronic wallet, regardless of whether they have an active loan, subject to the limitations provided in these Terms.
In order for the Bonus to be utilized as provided in these Terms, two threshold values must be met as follows:
a. Bonuses accumulated from amounts borrowed and paid back by the Friends should be at a minimum of UGX 2,000 (Uganda Shillings two thousand);
b. The Customer becomes entitled to receive a Bonus for each Friend only after at least 5 (five) Friends applied and paid the Loan as provided in these Terms.
Subject to clause 3.8., the maximum cumulative withdrawal or repayment using Bonus funds shall not exceed UGX 400,000 (four hundred thousand) per calendar month. Any Bonus amounts exceeding this limit may only be carried forward to subsequent months.
After a request to utilize Bonus amounts as per clause 3.10(b) is confirmed by a Customer, a freeze period of twenty-four (24) hours is applied before any other request can be placed by the Customer.
In the event that a Customer’s Bonus remains unused for a continuous period of 3 (three) months, Zenka reserves the right to reset this Bonus to zero.
In the event that a Customer’s Bonus account remains inactive for a continuous period of 3 (three) months, Zenka reserves the right to reset the whole Bonus balance to zero.
Eligibility and Limitations
Eligibility is limited to natural persons only.
Each Friend may be invited only once, following the “first in time, first in right principle”, so multiple invitations regarding the same individual will not be taken into account.
The Customers, Participants and Friends are prohibited from using the Bonus system for other purposes except than for repaying the Loan interest of the Customer, withdrawing it in accordance with these terms and applying for a Loan by the Friend using Zenka’s Services. If the Customer, Participant or Friend are in violation of these Terms, the Customer must compensate the amount of the bonuses received from Zenka within 10 (ten) business days having received the request from Zenka.
Zenka reserves the right, at its sole discretion, to suspend, disqualify or terminate a Customer’s participation in the MGM program and/or cancel any Bonus where Zenka reasonably suspects fraud, abuse of the program, or breach of these Terms.
Final provisions
These Terms are governed by the laws of Uganda. Where the parties to these Terms have a disagreement, they undertake to settle it through negotiations. If the disagreement is not resolved within one month, the parties have the right to solve the dispute in accordance with the governing law.
MGM lasts until further notice.
The termination of MGM does not affect the rights acquired by MGM Participants during its term.
The Customer shall be responsible to ensure that any Friend whose personal data is shared with Zenka has first been informed of the MGM referral program and has consented to the sharing of their personal data with Zenka.
Zenka reserves the right to modify the Terms of the MGM promotion at any time. Any changes will take effect upon publication on the Zenka website, as specified in Clause 5.8.
Complaints related to participation in the MGM may be submitted by the participant within thirty (30) days since registering for MGM by sending an e-mail to the following address: support@zenka.co.ug
The Participants of MGM agree to receive electronic correspondence regarding the activities of MGM and agree to receive electronic correspondence regarding the activities of MGM. Zenka is the controller of the Participants personal data.
