Mobile users in Zimbabwe can borrow airtime from UK Lendme

Raphael Michilis 

UK-based and Africa-focused startup Lendme has kick-started its mobile airtime loan service in Zimbabwe. 

The platform permits subscribers to borrow credit worth up to $ 20 to top up their pay-as-you-go mobile account. Lendme promises not to charge users if the loan is paid back within seven days, and subscribers will not need to commit to a contract.  

“We don’t charge you a single cent! Just register, there are no strings attached,” the company says on its website.

The mobile credit can be paid back using a Lendme e-voucher, sold at over 500 merchants in Zimbabwe. The e-voucher denominations currently range from $ 0.25 to $ 5.00.

Lendme also plans to extend the offer of its e-voucher to lend money, so subscribers can borrow up to $ 100 to make payments on e-commerce.

  

Prior to the launch Lendme carried a user acceptance testing (beta testing) and Facebook campaign that distributed top-ups worth $10 to $ 50 to those who referred new subscribers.

“We recognise the inherent burdens airtime pre-payment inflicts on consumers hence, we have launched Lendme Airtime in Zimbabwe,” said Michael Charangwa, Lendme co-founder. 

Sentient Group raises USD 1.3bn and a slice of the funding can go to the Amazon

Hermasa Port, Itacoatiara - Amazon Basin in Brazil

by Raphael Michilis

The Sentient Group, a venture company based in the Cayman Islands, hinted it might fortify its investments in the Amazon basin near Manaus, Brazil.

The capital would be a slice from the USD 1.3bn the company has recently raised in its fourth private equity funding.

“The Fund’s objective is to invest in mine development opportunities globally. As the Fund’s mandate is global, we will look at opportunities in Brazil alongside of any other jurisdiction,” Nicholas Mead, Sentient Partner for Investors Relations, told Money World.

Since 2009, Sentient invests in the private company Brazil Potash Corporation (PBC), who is the chief holder of mineral rights of a major potash district, 400km long.

Sentient did not confirm it already has any plans in place for the potash exploration in the Brazilian Amazon. However, “Brazil Potash Corp. expects to develop its extensive property in the State of Amazonas, Brazil, into one of the world’s largest strategic, scalable and reliable sources of potash,” says the company website.

The potash is mainly used in the production of potassium based fertilizers. The potash deposits explored by PBC are located near major markets and on established shipping routes and ports, that make the area more attractive for the Sentient investments.

In its investment portfolio, Sentient lists iron ore mining Ferrous Resources, also Brazilian, as well as companies from Australia, China, and the neighbour Argentina.