SUBA stands for; "StartUp Business Africa".
SUBA Capital has been operating since 2014. We strated first, as a digital business community, then got licensed as a Cooperative in July 2017, and incorporated as a Limited Laibility Company in March 2020.
You can become a contributor by simply filling a "Sign Up Form", and making your first contribution deposit.
This is because it is Central Bank of Nigeria (CBN) regulation for all financial institution (inluding microfinance institutions like us), to collect proper Know Your Customer (KYC) information and valid means of verification of identity of whoever we are dealing with.
Yes! We are licensed by the Edo Cooperative Federation under the Ministry of Wealth Creation, Cooperative and Employment with Licence No.: 00113687. Our parent company - SUBA Capital & Business Solutions Ltd is incorporated as limited company with the Corporate Affairs Commission (CAC) with RC:1667960. We are also an affiliate member of the Association of Non-Bank Microfinance Institutions (ANMFI) affiliated to the Central Bank of Nigeria (CBN).
That depends on the loan amount and our findings during the due deligence period. You have to be an active contributor for at least 21-90 days to allow us do due deligence.
Our investment contribution plans run for minimum duration of 24 months depending your chosen plan. However, if you do choose to liquidate your investment contribution before maturity time, you are to simply give us a notice by email. Please note that the prcoess takes 7-30 business days and there shall be a 15% fee charged upon approval of the liquidation.
Yes! Interest on Savings is calculated and remitted daily and monthly into your contribution wallet. However, you can not request a withdrawal until the maturity ("End Date") of the Savings or Investment Contribution plan.
Our savings contributions plans run for 6 to 24 months while the Agribusiness Investment Plans run for a minimum of 24 months. See more on "Our Plans" page.
The fee covers the cost of our operations and maintaining your contribution account. The management fee is to keep the organization's operations running. Our membership/management/withdrawal fee is paid only at withdrawal the chosen contribution plan.
Yes! Once signed up, you would have a personal dashboard to monitor your contributed deposit, interest growth, and at least your last 5 transactions.
Yes, you would because you're breaching the initial agreement by liquidating. A Administrive fee of 15% on the total amount been liquidated is charged.
Yes, you can increase your weekly/monthly contribution and invest multiple times within the year as long as it is within the contribution range of the contribution plan else, you would have to choose the appropriate contribution plan for the said amount.
Yes, you could upgrade and downgrade your contribution amount depending on the contribution plan you are on. However, you must complete the minimum 6 - 12 months duration to get the desired minimum 10%-20% interest/return on investment because interest/ROI is paid for the total we see at the end of the 6 - 12 month period.
Yes of course! By default, all contributed funds plus interest can be withdrawn at the end of the contribution plan. You can decide to continue or not. The money is yours, the choice is yours.
The contribution runs for a minimum 6 to 12 months (for the Savings Plans) and a minimum 24 months for the Investment Plans. This means you must complete the contrubtion plan before you can initiate a withdrawal.
Our core business is farming, commodity trading and lending. We get our surplus (profit) from our Agribusiness Projects. We cultivate, harvest and sell the farm produce. The interest on approved microcredit loans and other charges are also places where we get the surplus (profit) shared to contributors as interest on savings and return on investments (ROI).
We invest in agriculture (farm projects), retail e-commerce, real estate, and other business ventures amongst other things... So, if no one requests micro loans (which is almost impossible), we would still have a surplus (profit) to share as an interest/ROI to our contributors from sales of farm produce, management fees and all the investments mentioned above.
Micro lending is only 20% of our total business. With our agribusiness and other investments mentioned in the answer to question 24 above we meet up with our obligations.
Yes! Once signed up as a mobile sales agent with us, you automatically become a team leader and you earn commissions for collecting contributions from those on your team and you also make money carrying out other mobile banking services on the agent platform. Send us an email today join us as an agent.
It typically takes between 7 - 30 business days.
There's exactly no penalty. When you miss a month, you miss the interest/returns for that month and of it happens you can't continue, you can either liquidate or complete your contributions to receive your capital contributed plus the interest payable.
We charge a 10% administrative fee on the loan amount when approved, 2% monthly as interest on the loan amount and an additional 2% monthly charge for default after 3 days of grace.
Yes, you can. All you have to do is notify us in writing by email 30 days before the end of the contribution plan each time you want to do so.