Legal
Terms & conditions
Terms of use for this website — what the published figures mean, what this site is and is not, and where the terms that actually govern a loan live.
Last reviewed
These are not your loan terms
This page covers use of the website. The terms that bind you and us on an actual loan are in the loan agreement and repayment schedule you review and accept inside your account, before any money is advanced. If anything here conflicts with that schedule, the schedule is what counts.
Section 1
About these terms
These terms govern your use of this website, operated by Alector Microfinance, a registered microfinance institution (registration RBZ-MFI-2024-017) of 14 Nelson Mandela Avenue, Harare, Zimbabwe.
They do not form your loan agreement. If you take a loan from us, the binding terms are those set out in the loan agreement and repayment schedule you accept inside your account.
By using this website you accept these terms. If you do not accept them, please do not use the site.
Section 2
The status of published rates and figures
Rates, amounts and terms published on this website are indicative starting figures. They are not an offer of credit and do not guarantee that credit will be advanced to you, or advanced on those terms.
The rate, limit and repayment schedule that apply to you are determined when you apply, and depend on the product, the term you choose, your verified income and your Alector trust score.
The repayment schedule generated for you before you accept a loan is the authoritative statement of what you will pay. Where anything on this website conflicts with that schedule, the schedule prevails.
Any figure produced by the repayment calculator on this website is an estimate for guidance only. The assumption it applies is stated on that page.
Section 3
Eligibility and applications
You must be at least 18 years old and hold a Zimbabwean national ID or valid passport to open an account.
Opening an account is free and does not oblige you to borrow. Submitting an application is free and does not oblige us to lend.
We may decline an application. Where we do, we will tell you why.
You must give us accurate and complete information. Providing false information, or documents that are not yours, may result in an application being refused and your account being closed.
Section 4
Your account
You are responsible for keeping your sign-in details secure and for activity carried out through your account.
Alector will never ask you for your password or a one-time code, and will never ask you to pay a fee in order to release a loan. Treat any such request as fraudulent and report it to us.
Tell us promptly if you believe someone else has gained access to your account, or if your phone number or contact details change.
Section 5
Acceptable use of this website
You may use this website to learn about our products, to open an account, and to manage a loan you hold with us.
You may not attempt to gain unauthorised access to any part of the site or to another person’s account, interfere with its operation, or use automated means to extract content at a scale that degrades the service for others.
The content, branding and design of this website belong to Alector Microfinance unless otherwise indicated.
Section 6
Availability and changes
We aim to keep this website and your account available, but we do not guarantee uninterrupted access. Maintenance, faults and circumstances beyond our control may interrupt it.
We may update these terms and the information published on this website. The date at the top of this page shows when it was last reviewed.
Material changes affecting a loan you already hold are governed by that loan agreement, not by a change to this page.
Section 7
Complaints and governing law
If you are unhappy with a decision, a charge or how you have been treated, email info@alectormicrofinance.co.zw with your full name and the phone number on your account, marking it “Complaint”.
If our response does not resolve matters, you may ask for it to be escalated, and you retain the right to take the matter to the relevant regulator.
These terms are governed by the laws of Zimbabwe.
Contact
Questions about these terms
Email info@alectormicrofinance.co.zw or call +263 242 700 145. You can also read our privacy policy and responsible lending commitments.