Interest Rate Advisory

To the HEVA Community:

Section 33B of the newly gazetted Banking (Amendment) Act 2016 has lowered interest rates on debt by setting a cap for banks at 4 percentage points above the Central Bank’s benchmark (currently 10.5%, so banks can lend at 14.5% for now). In this regard, we have received requests for information on the implication of this to our debt-based financial products. Following numerous consultations, we would like to inform our community that our debt products will continue to carry an interest rate of 14% until further notice.

We have been at the forefront of developing investments that are highly customized for best fit with creative ventures. We strive to afford entrepreneurs a wide range of subsidized consultations including legal, business and human resource support, and accounting services, as well as a host of market creation strategies. We have found that this holistic package approach enables the enterprises we support to overcome significant challenges and build a focus on their core business, setting them on a path towards robust growth. We are therefore maintaining this rate in order to keep these opportunities open for our investees.

For more information on this write to us on or call us at 020 440 0870.