uXpress SACCO Debenture Issue, R5m in R20 Denominated Debentures, Coupon Rate: 24% p.a. (Paid Quarterly)

Issuer: uXpress Savings and Credit Cooperative (SACCO), Registered Cooperative operating under the laws of Zimbabwe.
Purpose of the Issue: uXpress SACCO is issuing debentures to raise R5m in capital to expand its credit program for members. The raised funds will be used to provide credit to SACCO members for the purchase of products and services on coops.africa, a closed-loop cooperative marketplace.

Instrument Details: Instrument Type: Debenture, Issue Size: R5m, Denomination: R20 per debenture, Number of Debentures Offered: 250K, Coupon Rate: 24% per annum, Interest Payment Frequency: Quarterly, Tenure: 3 years, Redemption: Bullet repayment at maturity unless otherwise agreed.

Use of Proceeds: The proceeds of the debenture issue will be used exclusively to provide consumer credit to uXpress SACCO members. This credit will enable members to purchase goods and services listed on coops.africa, an e-commerce platform operating within a closed-loop cooperative network.

About coops.africa: coops.africa is an online marketplace designed for cooperative members and institutions. It operates as a closed-loop system, meaning funds generated through sales on the platform cannot be withdrawn as cash by regular cooperators. Instead, the funds must be reused within the network to purchase products or pay for services from other cooperators. However, an exception is made for SACCOs, such as uXpress SACCO, which may withdraw capital they have invested or disbursed as credit to their members, strictly for the purpose of replenishing or rotating credit facilities within the cooperative.

Security and Repayment Assurance: Debentures are unsecured but backed by the SACCO’s credit portfolio and revenue generated from coops.africa transactions. The SACCO operates under cooperative principles, and all proceeds from member purchases are traceable within the platform’s ecosystem, ensuring consistent revenue flow for debt servicing.

Target Investors: This offer is open to institutional investors, cooperatives, and individuals interested in supporting cooperative-led commerce and inclusive financing. Investors must understand that this is a fixed-income investment with exposure to cooperative lending operations.

Investors should note the following risks: Repayment depends on the SACCO’s success in lending and collection from members, The closed-loop nature of coops.africa restricts liquidity for regular users, Regulatory or economic changes could impact the SACCO or the marketplace.
Disclaimer: This is an abridged prospectus and does not constitute a full offering document. Interested investors are advised to request the full prospectus and conduct their own due diligence before subscribing.

How to Purchase and Receive Your Debenture Certificate: Debentures can be purchased directly on coops.africa through the uXpress SACCO page. Upon purchase, investors will be able to download a Debenture Certificate, which must be completed with the required personal or institutional details and emailed to trustees@coops.africa. Verified and signed certificates will be returned to investors within 24 hours. Investors will receive support and updates related to their investment via the uXpress SACCO page on coops.africa. Interest payments (dividends) will be credited quarterly to the investor’s coops.africa wallet, which can be used within the platform to purchase goods or services or, where permitted, withdrawn by qualifying institutional investors such as SACCOs.