Legal
Privacy policy
What personal information Alector Microfinance collects, why we need it, who can see it, and what you are entitled to ask of us.
Last reviewed
This policy applies to Alector Microfinance, a registered microfinance institution (registration RBZ-MFI-2024-017) of 14 Nelson Mandela Avenue, Harare, Zimbabwe, and covers this website and the borrower portal.
Lending requires us to hold sensitive information about you — your identity, your income and your repayment record. This page sets out plainly what we hold and why.
Section 1
What we collect
Identity and contact details: your full name, national ID or passport number, date of birth, phone number, email address and residential address.
Verification documents: photographs of your national ID, proof of residence, and proof of income appropriate to the product you apply for — payslips, bank statements, trading records or evidence of land use.
Financial and account information: loan applications, approved limits, disbursements, repayment schedules, payments received, outstanding balances and your Alector trust score.
Technical information created when you use this website or your account, such as sign-in activity and the device or browser you used.
Section 2
Why we use it
To verify who you are, as we are required to do before lending to you.
To assess an application, size a loan to what you can afford, and set your borrowing limit.
To administer a live loan: generate your repayment schedule, apply payments you make, and send SMS reminders before installments fall due.
To meet our record-keeping and reporting obligations as a registered microfinance institution.
To contact you about your account, an application, or a payment.
Section 3
Who can see it
Your KYC documents are visible only to you and to authorised Alector staff who need them to verify your identity or assess your application.
We do not sell your personal information, and we do not share it for anyone else’s marketing.
We use third-party service providers to operate this service — including an authentication provider that manages sign-in and account security, and infrastructure providers that host the application. They process data on our instructions.
We disclose information where we are legally required to do so, including to a regulator or under a lawful order.
Section 4
How we protect it
Access to borrower records is restricted by role, so staff see only what their function requires.
The website and your account are served over an encrypted connection.
Sign-in is handled by a specialist authentication provider rather than by passwords we store ourselves.
Alector will never ask you for your password or a one-time code, and will never ask you to pay a fee to release a loan. If someone asks you for either, it is not us.
Section 5
Your rights
You can ask us what personal information we hold about you, and ask for a copy.
You can ask us to correct information that is wrong or out of date.
You are entitled to an explanation of any credit decision made about you, including what drives your trust score.
You can raise a complaint about how your information has been handled, and escalate it to the relevant regulator if we do not resolve it.
Section 6
How long we keep it
We keep borrower records for as long as you hold an account with us, and afterwards for the period our obligations as a registered lender require.
Opening an account does not oblige you to borrow. If you never take a loan, the information you provided is still covered by this policy.
Contact
Questions about your data
To ask what we hold, request a correction, or raise a complaint about how your information has been handled, email info@alectormicrofinance.co.zw or call +263 242 700 145. Include your full name and the phone number on your account so we can identify you.