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 finance@hevafund.com or call us at 020 440 0870.

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