Terms and Conditions

Terms and Conditions for Akiba

A product of Lwazi Technologies

1. Introduction and Acceptance of Terms

These Terms and Conditions govern access to and use of Akiba, a digital ledger and financial management platform operated by Lwazi Technologies, a financial technology company with its registered address at Plot 3 Princess Road.

By creating an account, accessing, or using Akiba, you agree to be bound by these Terms and Conditions. If you do not agree, you must not access or use the platform.

2. Definitions

• "Akiba" means the digital ledger and financial management platform provided by Lwazi Technologies.
• "Company" means Lwazi Technologies.
• "User" means any Village Savings and Loan Association, SACCO, informal saving group, administrator, member, or individual accessing or using Akiba.
• "Group" means any savings group, SACCO, or association using Akiba.
• "Mobile Money Provider" means any third party payment service integrated into Akiba.
• "Services" means all features, tools, software, APIs, and functionalities made available through Akiba.

3. Eligibility

• You must be legally capable of entering into binding agreements under applicable law.
• If you register on behalf of a Group, you represent and warrant that you have authority to bind that Group to these Terms.

4. Account Registration and Responsibilities

Users must provide accurate, complete, and up to date information during registration.

You are responsible for:

• Maintaining the confidentiality of login credentials.
• All activities conducted through your account.
• Ensuring role based permissions are assigned appropriately within your Group.

The Company is not responsible for losses arising from unauthorized access caused by your failure to safeguard credentials.

5. User Obligations

You agree to:

• Use Akiba only for lawful financial record keeping and management purposes.
• Ensure accuracy of savings, loan, and repayment entries.
• Comply with all applicable financial, tax, and regulatory requirements.
• Not misuse, reverse engineer, interfere with, or attempt unauthorized access to the platform.

You remain solely responsible for financial decisions, loan approvals, interest settings, and penalty configurations made within your Group.

6. Fees and Payments

• Use of Akiba may be subject to subscription fees, transaction fees, or service charges as communicated by the Company.
• All fees are payable as agreed and are non refundable unless otherwise required by law.
• Mobile money transaction charges are determined by the relevant Mobile Money Provider and are separate from Akiba fees.

7. Loan and Financial Transaction Disclaimer

Akiba provides digital tools for recording and managing financial activities. The Company:

• Does not provide financial advice.
• Does not act as a lender, deposit taking institution, or fiduciary.
• Does not guarantee repayment of loans recorded on the platform.

Users are solely responsible for loan approvals, borrower assessments, interest calculations, and recovery processes.

The Company is not liable for financial losses arising from incorrect data entry, misconfiguration of loan terms, or disputes between members.

8. Mobile Money and Third Party Services

Akiba integrates with third party Mobile Money Providers and other external services. The Company is not responsible for:

• Service interruptions caused by third parties.
• Transaction delays or failures outside its control.
• Changes in third party fees or terms.

Your use of third party services is subject to their separate terms and conditions.

9. Data Protection and Privacy

The Company processes personal data in accordance with applicable data protection laws and principles aligned with GDPR standards.

Details on data collection, processing, storage, and user rights are set out in the Akiba Privacy Policy.

Users must ensure they have lawful grounds to upload or process personal data of members within the platform.

10. Intellectual Property

All intellectual property rights in Akiba, including software, branding, design, and documentation, belong to Lwazi Technologies or its licensors.

Users receive a limited, non exclusive, non transferable license to use Akiba in accordance with these Terms.

11. System Availability and Downtime

The Company aims to maintain reliable system availability but does not guarantee uninterrupted or error free operation.

Temporary suspension may occur due to maintenance, upgrades, security concerns, or events beyond reasonable control.

The Company is not liable for losses caused by system downtime, data transmission errors, or external network failures.

12. Limitation of Liability

To the maximum extent permitted by law, the Company's liability is limited to the amount of fees paid by the User in the preceding twelve months.

The Company is not liable for:

• Indirect or consequential losses.
• Loss of profits, data, or goodwill.
• Financial losses arising from user decisions or internal Group disputes.

Nothing in these Terms excludes liability for fraud or liability which cannot be excluded by law.

13. Indemnification

You agree to indemnify and hold harmless Lwazi Technologies from claims, losses, damages, or expenses arising from:

• Your breach of these Terms.
• Misuse of the platform.
• Violation of applicable laws or third party rights.

14. Suspension and Termination

The Company may suspend or terminate access where:

• You breach these Terms.
• Required by law or regulatory authority.
• There is suspected fraud, misuse, or security risk.

Users may terminate their account in accordance with platform procedures.

15. Regulatory Compliance

Users remain responsible for compliance with local financial, cooperative, and consumer protection laws applicable to their operations.

The Company may cooperate with regulatory authorities where required by law.

16. Confidentiality

Each party agrees to keep confidential any non public information obtained through use of the platform, except where disclosure is required by law.

17. Dispute Resolution and Governing Law

These Terms are governed by the laws of the applicable jurisdiction.

Disputes shall first be resolved through good faith negotiations. If unresolved, disputes shall be submitted to the competent courts or agreed arbitration forum within the governing jurisdiction.

18. Amendments to Terms

The Company may update these Terms from time to time. Updated Terms will be published on the platform. Continued use constitutes acceptance of the revised Terms.