LOAN AGREEMENT STATEMENT &

MPOWA FINANCE QUOTATION FOR SMALL CREDIT

AGREEMENTS
MPOWA FINANCE (PTY) LTD - 2011/128825/07
Postnet Suite 462 - PVT BAG X9 - BENMORE - 2010 Client No: 8112065921087
6 Burnside Island, 410 Jan Smuts Avenue, Craighall, 2196
REGULATOR REG NO: NCRCP6666 Agreement No: 1
VAT NO: 4010259739 Create Date: 2024-07-15
Upload: login to your account at www.mpowafin.co.za
Email: happy@mpowafin.co.za
Interest Rate Per Month: 4.5%
Tel No: 0861 228 228
SMS: 083 736 0165
Annual Interest: 54%
Credit agreement between MPOWA FINANCE (PTY) LTD ("Credit Supplier") and Mduduzi Mkhize with ID Number
8112065921087 ("the Borrower"), of address dube village reserve, ward 14 and Tel No: 0814710574
Credit Protection: 0.45%
Payment Frequency: Monthly
Payment Method: Debit Order
Loan Reason First Due Date Last Due Date Terms
Loan Type: Short Term
CONSUMPTION 2024-07-26 2024-07-26 1

Credit advanced or value of goods or services provided on credit R 1,300.00

Initiation Fee (16.5% on 1st R1000. 10% thereafter) R 195.00

Total Service Fee (R60 per Calendar month + a Pro-Rata portion if concluded in R 21.29
another Calendar month)

Total Interest charged (4.5% per month for 1st loan in a calendar year. 3% thereafter) R 24.34

Total Credit Life Insurance charged R 5.85

VAT R 32.44

Monthly Repayment Amount R 1,578.92

Total Amount Repayable by the Borrower R 1,578.92

Further Information on rights and obligations:

I confirm that I am not under and have not applied for Debt Review or an Administration order.

Total Cost of Credit: R 278.92

Credit Cost Multiple (Total Cost of Credit/ Principle Debt): 21.46%

Consent: I hereby grant consent to MPOWA Finance to perform a credit check on me.
Disclaimer: Amounts calculated on this page are accurate for contracts approved on 2024-07-15. If this contract is approved after
this date but still has the same end date then it will have a lower interest amount. Please login to your online account to confirm.

Signature:
Credit Supplier Representative Signature of Borrower

This Quotation is based on financial information supplied by the Borrower and will only be entered into subject to the
Lender conducting an affordability assessment.

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 TERMS AND CONDITIONS
SMALL CREDIT AGREEMENT IN TERMS OF SECTION 93(2) OF THE NATIONAL CREDIT ACT 34 OF 2005
I, the undersigned Mduduzi Mkhize with ID Number 8112065921087, Tel No: 0814710574 ("the Borrower"),
of address dube village reserve, ward 14
my domicilium citandi et executandi for the purposes of any notice in terms of this agreement, having accepted the pre-agreement and
quotation above hereby acknowledge that:
1.1 The essential terms and conditions hereunder have been explained to me and I understand the consequences of the agreement;
1.2 I have had an opportunity to read the agreement in my preferred language of English;
1.3 I have received the LOAN AMOUNT: R 1,300.00;
1.4 The application completed forms part of these terms and conditions;
1.5 I have not been induced by the lender into taking this loan and have not signed any blank documents relating to this agreement.
2. Payment Schedule
The payment schedule attached hereto in the form of the pre-agreement statement and quotation sets out the payment information relating to the Agreement and must be
read as part of this Agreement.
3. Consent
The Borrower consents to the Credit Supplier obtaining any information from his employer inter alia, without derogating from the generality hereof, details pertaining to the
Borrower's salary, employment, residential address and best contact details.
In the event of the Borrower being married in community of property, and the Borrower's spouse's consent is required in respect of this agreement, the Borrower warrants that
his / her spouse's requisite consent, if any, will be provided within a reasonable period after a request is made by the Credit Supplier for same to be provided. The Borrower
indemnifies the Credit Supplier against any loss or damages it may suffer as a result of a failure to provide such aforesaid consent.
4. Password
I understand that my password is not to be shared with anyone. Instructions made from my online account to loan money as well as the repayment thereof are seen as being a
direct instruction from me the Borrower. Responsibility for the repayment of my loan is mine alone. MPOWA FINANCE (PTY) LTD cannot be held responsible for any losses
incured by the Borrower due to leaking of security details/ passwords by the client.
5. Marketing
The Borrower consents that the Credit Supplier, its affiliates, associates and subsidiaries may send advertising and promotional material by email, SMS (Short Message
Service) to his / her computer / cellular telephone as provided herein. Should the Borrower wish to unsubscribe from such messages, please email
unsubscribe@mpowafin.co.za
6. Statements/ Statements of balance
The Borrower furthermore consents to the Credit Supplier sending SMS's to him / her with regards to his / her outstanding balances(s), when his / her installment is due and
payable, when he / she is in arrears with his / her payments and related matters.
7. Early Settlement
7.1 The Borrower is entitled to settle the Agreement at any time, without advance notice to the Credit Supplier.
7.2 The amount required to settle this Agreement shall be the total of the following amounts:
7.2.1 the unpaid balance of the principal debt up to the settlement date;
7.2.2 the unpaid interest charges up to the settlement date; and
7.2.3 all other fees, charges and insurance payable by the Borrower to the Credit Supplier up to the settlement date.
8. Consumer's right to terminate the agreement
The Borrower may terminate this agreement at any time by paying the settlement amount due to the Credit Supplier, in accordance with paragraph 7 above.
9. Credit Supplier's right to terminate the agreement
The Credit Supplier reserves the right, in terms of section 123 of the Act, to terminate this Agreement and proceed with legal proceedings in terms of section 129(1)(b) and
section 130(1) of the Act, which proceedings may result in a Court of law enforcing the repayment of the Borrower's outstanding obligation in terms of this Agreement. Any
judgement of such Court, as aforesaid, shall be recorded by the credit bureaux available to other credit suppliers. The credit provider may, prior to disbursement, at their sole
discretion, cancel the agreement.
10. Penalty Fees & Interest on arrear amounts
Should the Borrower default and / or fail to pay any amount on the due date thereof, then same shall attract penalty interest as calculated in 10.1 below:
10.1 the Borrower shall be liable for and pay interest, calculated on the total amount which is payable but is unpaid at the same rate as set out in the proposed loan
agreement and quotation, from the date of default to date of payment in full; and
10.2 the full outstanding balance of the capital together with total cost of credit charges (including any unpaid accrued interest) as well as failed debit order costs shall, at the
sole discretion and instance of the Credit Supplier, immediately become due, owing and payable.
11. Payments
Payments will be allocated firstly towards payment of any due or unpaid interest, thereafter any due or unpaid fees or charges (including legal costs, if any) and lastly the
capital.
12. Changes to Employment or Banking details
The Borrower has an obligation to inform the Credit Supplier of any changes to his/ her Employment/ Banking details occurring before the contract payment date. Failure to do
so will result in a non payment and a judgement on the Borrower's credit profile.
13. Breach of Agreement
If the Borrower is in default for at least 20 days, subject to 10 days written notice as contemplated in Section 129(1) or 86(9), the Credit Supplier may approach the court for an
order to enforce the loan agreement including a claim for all outstanding amounts and / or damages. The Borrower agrees to pay all reasonable costs of the collection of
payments and further agrees to pay all legal costs on an attorney and client scale caused by his/her default including debt collector's costs and tracing fees.
14. Complaints
Complaints may be directed to the Credit Supplier at the contact details provided in the Agreement or to the National Credit Regulator at (011) 554-2600
15. Cession
The Credit Supplier has the right on written notice to the Borrower to transfer (cede and assign) all the Credit Supplier's rights and obligations in this agreement to a third party
and the Borrower will then pay the third party instead of the Credit Supplier.
16. Credit Check
The Borrower agrees to allow the Credit Supplier to conduct whatever independent credit checks it deems necessary, using the details supplied by the Borrower. Examples of
these checks are Compuscan, NLR and Experian.
17. Initiation Fee
This fee is raised upon inception of the contract. The Borrower has the option to pay it and the related VAT charged upfront. Failing which, interest will be charged on this fee +
VAT. Borrower to notify his/ her loan officer by email & cc loans4u@mpowafin.co.za on the day the loan is approved/ disbursed that he/ she would like to pay the initiation fee
upfront.
18. Entire Agreement
This agreement constitutes the entire agreement between the parties relative to the subject matter hereof and supersedes all representations, warranties, agreements or
undertakings previously made relative to such subject matter, and no such representations, warranties, agreements or undertakings shall be of any force and effect unless
contained herein. No indulgence, extension of time, relaxation or latitude which the Credit Supplier may show, grant or allow to the Borrower shall constitute a waiver by the
Credit Supplier of any of its rights and the Credit Supplier shall not thereby be prejudiced or stopped from exercising any of its rights against the Borrower which may have
then already arisen or which may thereafter arise, and / or applying / enforcing the terms of this agreement. No variation of any of the terms and conditions of this agreement
will be binding on the parties unless committed to writing and signed by them respectively. Should any provision or portion of this Agreement be unenforceable by law, void or
voidable, such provision shall be severable from the remaining provisions hereof which shall remain in full force and effect.
Signed at richards bay, -

Signature of Credit Supplier or authorised Representative Signature of Borrower

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Ph: 0861 228 228
SMS: 083 736 0165
Fax No: 011 2526149
Email: happy@mpowafin.co.za
MPOWA FINANCE
MPOWA FINANCE (PTY) LTD - 2011/128825/07
Postnet Suite 462 - PVT BAG X9 - BENMORE - 2010
REGULATOR REG NO: NCRCP6666
VAT NO: 4010259739
AFFORDABILITY ASSESSMENT
Date: 2024-07-15

CLIENT DETAILS
Name and Surname: Mduduzi Mkhize Client No: 8112065921087
Physical Address: dube village reserve, ward 14 Agreement No: 1
Cell No: +27814710574
Identity No: 8112065921087

MONTHLY INCOME & EXPENSES Rand

Net Income after Statutory Deductions and Maintenance 16,800.00
Add Spouse contribution to Living Expenses & Credit Obligations 5,000.00
Less Total Living Expenses & Credit Repayment Obligations 13,963.00
Necessary Living Expenses: 12,100.00
Rent 6,500.00
Water, Electricity, Rates & Taxes 1,800.00
Fuel, Parking, Taxi Fare/ Transport 800.00
Insurance (Home, Vehicle, Medical, Life) 0.00
Food 3,000.00
Schooling/ Education 0.00
Other 0.00
Monthly Credit Repayment Obligations: 1,863.00
Home Loan Repayment 0.00
Vehicle, Furniture & Asset Finance Repayments 0.00
Credit Card/s 0.00
Revolving Credit acounts/ Store cards 1,321.00
Personal Loan/s (greater than 6 months) 542.00
Short Term (loans up to 6 months) unsecured 0.00
Other 0.00

Discretionary Income 7,837.00

Affordable Loan Instalment Amount 1,578.92

Excess Cashflow 6,258.08

CLIENT SIGNATURE:

The above information is true to the best of my knowledge. I understand that I am financially responsible for any balance.
I also authorize MPOWA FINANCE (PTY) LTD to release any information required to process my application including performing a
credit check on me. I confirm that I am not under and have not applied for Debt Review or an Administration order.
My salary is reviewed annually & I undertake to inform MPOWA FINANCE (PTY) LTD of any material change to my current salary.

Page 1 of 1
Reference: 20240715-3287894
 DEBIT ORDER AUTHORISATION: FLEXIBLE DEBIT ORDER DATE FOR AC / DEBICHECK PAYMENT STREAM

SECTION A – HOLDER OF THE AUTHORITY AS BENEFICIARY:

Mpowa Finance (Pty) Ltd

6 Burnside Island, 410 Jan Smuts Avenue, Craighall Park, Gauteng, 2196

loans4u@mpowafin.co.za 086 122 8228

Turbo Financial Services (Pty) Ltd Turbo Financial Services (Pty) Ltd

TFS CL as Credit Life Provider TFS Funeral

410 Jan Smuts Avenue, Craighall Park, Gauteng, 2196 410 Jan Smuts Avenue, Craighall Park, Gauteng, 2196

010 211 9413 010 211 9413

info@turbosure.co.za info@turbosure.co.za

SECTION B – PAYER CONTACT DETAILS:

ID Number 8 1 1 2 0 6 5 9 2 1 0 8 7

Name Mduduzi Mkhize

Cell Number +27814710574 Client Number 8112065921087

SECTION C – PAYER BANKING DETAILS:

Name of Bank Standard Bank

Account Number 0 0 1 0 1 3 1 8 4 3 0 9 3

Account Type Savings Cheque X Other

Bank Code 0 5 1 0 0 1

Inscription on Bank Statement of Payer *

* Inscription will be provided once the loan agreement is concluded.

SECTION D – PAYER PAYMENT INSTRUCTION DETAILS AND PAYMENT FREQUENCY:

Total Amount as defined in Mpowa Finance (Pty) Ltd R 1,573.07 Mpowa Finance (Pty) Ltd Agreement Reference *
Agreement

Total Amount of Mpowa Finance (Pty) Ltd per Frequency R 1,573.07 Number of Instalments 1

Amount as defined in Turbo Financial Services (Pty) Ltd R 5.85 Turbo Financial Services (Pty) Ltd Agreement Reference *
Agreement per frequency (Credit Life)

Total Instalment Repayment Amount All Entities per R 1,578.92

Frequency

Initial Date 2024-07-26

Payment Frequency Monthly

Payment Stream AC / Debit Order

Collection Day 26th day of the month

Date changes agreed to align my salary and wage expected day of payment in ( X ) YES - Adjust dates for December and payment cycles over public holidays
accordance with the Agreement concluded with Legal Entity

Mandate Type Usage Based - Maximum Amount agreed to R 2,368.38

* References will be provided once the loan agreement is concluded.

SECTION E - ACTIVE DATE: From date of signature SECTION F - ACTION DATE: Variable to coincide with my salary / wage deposits

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SECTION G – AUTHORIZATION:
I hereby authorise the Holder of the Authority as Beneficiary to issue and deliver debit order payment instructions to Amplifin as your SystemOperator for collection against my
above-mentioned Bank and account number indicated above on condition that the sum of each payment instruction and frequency of payment requests will never exceed the
obligations as agreed and defined in the Agreement specified.
This is a Flexible Date Mandate. I can only service the obligations defined in here if the payment instructions are executed as close as possible to when I receive my salary or
wages which dates may vary from month to month, especially during December of each year. To curb against (1) unpaid bank charges (2) losing the benefits described in the
agreement specified above (3) incurring penalties due to non-payment; I explicitly authorise the Holder of the Authority as Beneficiary to align the Presentment Date or Day to
coincide with when I receive my salaries or wages, as specified above.
In addition, I explicitly authorise the Holder of the Authority as Beneficiary to utilise the functionality of Tracking supported by the DebiCheckPayment Stream. Tracking
supported by the DebiCheck Payment Stream has been explained to me and I acknowledge that my above-mentioned bank account will be interrogated for a defined period
until this period has lapsed or until a successful collection has been processed for the instalment that was in tracking. I hereby agree that subsequent Payment Instructions will
continue to be delivered in terms of the Authority until all undertakings to repay in terms of the agreement specified above have been made. This Authorisation to pay will
remain in force until cancelled by me in writing. I hereby acknowledge that my bank will levy charges against my bank account as agreed with them once I authenticate using
the AC (DebiCheck) Payment Stream and once my Bank processes a debit against my bank account.
I foresee that I may change my bank account with my existing bank during the course of the agreement specified above, and therefore upon receipt of my new bank account
particulars, I authorise and grant the required consent to the Holder of the Authority as Beneficiary and Amplifin as System Operator or the assigned third party, to update their
centralised systems and to debit my new bank account and to attach such new information, to this signed Authority as annexure, and the attached annexure must be read
together with this Authority to debit my bank account, by my new bank, even where such attached annexure is not signed by me. With such consent granted, this Authority to
debit my bank account will not lapse once my new bank account details have been obtained.

SECTION H – ASSIGNMENT, NOTIFICATION AND NEW AUTHORITY:

Should the Agreement be ceded or assigned to any third party, I agree and authorise the cession and assignment of this Authority to such new third party.

SECTION I - PROTECTION OF PERSONAL INFORMATION ACT, NO. 4 of 2013: CONSENT GRANTED:

I herewith consent to the receipt, storage, and processing of my Personal Information, as agreed to in the respective Agreements referenced herein, and in addition as set out
in here, amongst others, for the purposes of facilitating collections by Amplifin.
Any Personal Information passed on to Amplifin by me as the authoriser of the mandate and stored by Amplifin for the purposes of facilitating collections will only be used by
Amplifin where:
1. the law and the Payment Association of South Africa rules require Amplifin to do so;
2. to detect, prevent, and report theft, fraud, money laundering, and other crimes;
3. it is in the public interest to do so;
4. Amplifin's interests required disclosure, for example, a default or breach of this Agreement
5. to facilitate collections of the Holder of the Authority;
6. to process Payment Instructions; and
7. to report to Credit Bureaus the outcome of payment instructions processed being either paid, unpaid, disputed or mandate cancelled.

Signature of the Payer: _______________________________________ Date: __________________________

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 CONTRACT BETWEEN INSURER AND POLICYHOLDER – TURBOSURE CREDIT LIFE

THIS IS AN IMPORTANT DOCUMENT ABOUT THE INSURANCE PRODUCTS THAT YOU HAVE CHOSEN AND YOU SHOULD
STUDY IT CAREFULLY AND ENSURE THAT YOU UNDERSTAND THE CONTENT.

We are fully aware that a Financial Services Provider must, subject to and in addition to the duties imposed by Section 18 of the National Credit Act and
Section 3 (2) of the Code, maintain a record of the transaction (shown below). However, we emphasize that our Credit Provider' s staff do not provide
any financial advice by completing this document.

Policy Holder Information

Surname: Mkhize Physical Address dube village reserve, ward 14

First Name: Mduduzi esikhawini

ID Number: 8112065921087 richards bay

Date of Birth: 1981-12-06 -

Gender: Male 3887

Client No: 8112065921087 Contact No 0814710574

Details of Premiums Payable

Product Insurance Premium Insured Amount Commission (%) Administration Fee (%)

Turbosure Credit Life Policy R 5.85 R 1,300.00 3.25% 3.5%

Due date of payment: The premium is payable MONTHLY with your current credit agreement.
Consequences of Non-Payment: No payment of premium will result in no insurance cover. A 31 day period of grace is allowed.
Method of Payment: Premiums may be paid by debit order, EFT or by cash on or before the Due Date.

Policy Information
Policy Number: 8112065921087_1_CP
Type of Cover offered: Credit LifeCover
Insurance Certificate No:
Amount covered: R 1,578.92
Cover Start Date: 2024-07-15
Cover End Date: Cover will lapse on the earlier of:
• 31 day period of grace is over and no outstanding premium(s) were paid; or
• Death or Permanent Disability Cover has been paid; or
• When Guardrisk or you cancel the policy.
• When your credit agreement ceases.
Cession: This policy is ceded to the Credit Provider.
Beneficiary: MPOWA Finance (Pty) Ltd

Administrator Information
FSP/Broker: Turbo Financial Services (Pty) Ltd t/as Turbo FS Physical Address: 410 Jan Smuts Ave, Johannesburg
FSP No: 51046(Cat 1-LT A & A-1, B & Bl -A, ST Personal lines and Commercial Lines)
Complaints & Claims: 010 211 9413
Turbo FS has the necessary Professional Indemnity Insurance in place and does not own 10% of the insurer and does not derive more than 30% of its
total remuneartion over the preceding 12 months from the insurer alone.

Insurer information
Name: Guardrisk Life (Pty) Ltd Physical Address: The Marc, Tower 2, 129 Rivonia Rd, Sandton, 2196
FSP No: 76(Cat 1-LT-category A, B1, B1-A, B2, B2-A and C)
Telephone: 011 669 1000 Email: info@guardrisk.co.za

Page 1 of 2
CLIENT MANDATE AND TRANSACTION RECORD

1. INTRODUCTION
1.1 You have applied for a loan, that has been granted by the credit provider.
1.2 In terms of the credit agreement You are obliged to have and maintain credit protection insurance during the term of the loan.
1.3 Should You be able to provide any alternative insurance cover/ credit protection insurance or any other policy, to the satisfaction of the credit provider,
for the loan amount applied for, then You are not obliged to maintain this credit protection insurance provided as part of the loan. Such an alternative
policy must provide similar benefits to the policy offered by the credit provider.

2. DETAILS AND DECRIPTION OF THE TRANSACTION

2.1 The authorised Financial Services Provider/Broker is Turbo Financial Services (Pty) Ltd (hereinafter referred to as "Turbo FS") with FSP number
51046 and all further details of Turbo FS are set out in the disclosure document (a copy of which has been provided to you).
2.2 Turbo FS only provides an intermediary service in terms of the Financial Advisory and Intermediary Services Act 37 of 2002 (hereinafter refer to as "
FAIS") and collects your insurance premiums.
2.3 The Credit provider nor any of its employees or representatives furnishes any advice during this policy period and whilst providing this credit life
cover. These employees may only explain factual information relating to any insurance products. If you require advice kindly contact the Broker.
2.4 Full particulars, terms and conditions are set out in the Policy schedule and the policy wording, and should be carefully studied before accepting this
credit life policy.
2.5 You can contact the call centre should You require further information or advice relating to this insurance.
2.6 The purpose of the credit provider is to provide You with information regarding:
2.6.1 the procedure for entering into the insurance product;
2.6.2 the description of the insurance product;
2.6.3 the answer to routine administrative queries;
2.6.4 objective information about the insurance product.

3. CONFIRMATION AND ACKNOWLEDGEMENT

3.1 You acknowledge, understand and confirm that the following has been taken into consideration during the transaction:
3.1.1 the possible impact on your financial position;
3.1.2 the premium that will be paid;
3.1.3 the nature and extent of benefits;
3.1.4 possible exclusions, waiting periods and circumstances when benefits will not be paid;
3.1.5 suitability of the insurance product.

ACKNOWLEDGEMENTS
1. I acknowledge receipt of a copy of this Client mandate and transaction record.
2. I acknowledge receipt of a copy of the policy terms and conditions.
3. I acknowledge receipt of a copy of the disclosure document.
4. I acknowledge and confirm that all terms and conditions were disclosed to me and that I can contact the broker should I not fully understand the
terms and conditions of this policy.
5. I acknowledge and confirm that the benefits in terms of this policy is suitable and appropriate.
6. I have been informed of all the costs and charges of this policy.
7. I understand and accept the terms and conditions of this policy.
8. I understand and confirm that no financial advice has been provided during this transaction.
9. I confirm that the intention of this policy is not to replace any other similar funeral product, but should this occur then the waiting periods will be
waived where applicable.
10. I confirm and understand that the credit provider did not provide me with any advice in terms of FAIS.
11. I understand that there is no waiting period for natural death, but there is a 12 month waiting period for suicide from the entry date.

DECLARATION
I understand the content of this mandate and transaction record, the disclosure document as well as the terms and conditions of the Turbosure Credit
Life policy. I received adequate information and enough time to enable me to make an informed decision.
I confirm the accuracy and completeness of all answers, statements or other information provided by me. Any misrepresentation or non disclosure of a
material fact or the inclusion of incorrect information by me could result in possible damages suffered by me. I confirm that all documentation relating to
this transaction was fully completed before I signed it and I did ensure that all information contained in such documentation was to the best of my
knowledge true and correct.
I was advised on the freedom of choice entitlements and have exercised such freedom of choice. I have not been coerced or induced in anyway in the
exercising of my freedom of choice or of any other rights.
Your privacy is of utmost importance to Us. We will take the necessary measures to ensure that any and all information, provided by you for the purpose
of this application, is processed in accordance with the provisions of the Protection of Personal Information Act 4 of 2013 and further, is stored in a safe
and secure manner.
You hereby agree to give honest, accurate and up-to-date Personal Information in order to process and accept this application
You accept that your Personal Information collected by Us may be used for the following reasons:
1. to establish and verify your identity in terms of the Applicable Laws;
2. to enable Us to proceed to issue the Policy should we accept this application.
Unless consented to by yourself, we will not sell, exchange, transfer, rent or otherwise make available your Personal Information (such as your name,
address, email address, telephone or fax number) to any other parties and you indemnify Us from any claims resulting from disclosures made with
your consent.
You understand that if the Administrator/Insurer has utilised your Personal Information contrary to the Applicable Laws, you have the right to lodge a
complaint with Guardrisk or with the Information Regulator.

Signature of Client: _______________________________________ Date: __________________________

(Policyholder)
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