Lloyd Crowdfunding Admitted Into The Fintech Regulatory Sandbox By The Reserve Bank Of Zimbabwe

[Bulls n Bears]

 <mailto:bulls at bullszimbabwe.com> 

 

Lloyd Crowdfunding Admitted Into The Fintech Regulatory Sandbox By The
Reserve Bank Of Zimbabwe

 

Harare- On the 13th of April 2022, the Reserve Bank of Zimbabwe approved
Lloyd Crowdfunding (LCF), a subsidiary of Lloyd Corporate Capital, to
operate within the guidelines of the Fintech Regulatory Sandbox.

 

Crowdfunding for business is the online offering of financial securities of
a private company to a group of people for investment. Crowdfunding makes
use of the easy accessibility of vast networks of people through
<https://www.investopedia.com/terms/s/social-media.asp> social media and
crowdfunding websites to bring investors and entrepreneurs together. 

 

The crowdfunding system has generally been used for charity and personal
fundraising efforts. Several SMEs in Africa (e.g., Mauritius, South Africa,
Morocco, Tunisia, Cote d'Ivoire, Senegal, etc.) have, however, successfully
managed to raise capital for business start-up and growth through
crowdfunding.

 

Currently, in Zimbabwe, there is no form of legislation on crowdfunding,
hence the use of a regulatory framework known as the Regulatory Sandbox
which is monitored by the Reserve Bank of Zimbabwe. The Fintech Regulatory
Sandbox is intended for innovators in the financial services sector who have
already developed their service, product, or business model and are ready to
undertake a proof of concept through monitored market testing.

 

Lloyd Crowdfunding will be in the Regulatory Sandbox for 12 months. The
sandbox activities to be tested are those that the Reserve Bank can oversee
in terms of the Reserve Bank Act, Chapter 22:15; Banking Act, Chapter 24:20,
the National Payments Systems Act, Chapter 24:23; the Money Laundering and
Proceeds of Crime Act, CHAPTER 9:24; Exchange Control Act Chapter 22:05 and
any other relevant regulation.

 

The main aim of Lloyd Crowdfunding is to assist Small and Medium-Sized
Businesses (SMEs) raise funding for their capital and operational
requirements. The Lloyd Crowdfunding platform brings together SMEs and
investors to enable SMEs to raise capital through equity, quasi-equity,
loans, or a combination of both loans and equity.

 

Lloyd Crowdfunding is thus inviting registered SMEs with bankable projects
to approach us for a listing on our platform. 

 

The platform offers investors an opportunity to invest in exciting,
high-potential SMEs. The lower limit for an investor to invest through Lloyd
Crowdfunding is one-thousand USD (US$1,000), and the upper limit is
US$500,000 or the Zimbabwe dollar equivalent. 

 

SMEs and investors interested in taking advantage of the Lloyd Crowdfunding
platform can register online on LCF website www.lloydcrowdfunding.com
<http://www.lloydcrowdfunding.com> . Alternatively, they can contact us
using the details in the attached file.

 

Invest Wisely!

 

Bulls n Bears 

 

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