Frequently Asked Questions
Most frequent questions and answers.
Enaleni is a Diaspora led Social Impact investment platform. We are a UK based Society Registered with the Finance Conduct Authority(FCA number 32105R) which offers Community Shares to its members.
Enaleni’s aim is to create market access for small scale farmers in Zimbabwe. Your investment will go towards – enabling Enaleni to partner with export linked value chain markets which presents an opportunity for small scale farmers to access stable forex-based markets.
We want to see a dignified Africa unleash its capacity to create wealth using what we have. We earn our revenue from investing our remittances in rural agriculture. We do not invest simply to create shareholder value; we invest to create community value. Making a positive social impact is our central purpose.
Why are you investing in Zimbabwe?
For us as Diaspora, maintaining links with our country of origin is important to us. The majority of our members are Zimbabwean, and together with friends of Zimbabwe we want to contribute to the development of Zimbabwe.
Our long-term goal is to contribute to the creation of a stable economic environment in which anyone who has land in Zimbabwe is able to make a decent living from it. Our primary contribution in this is the development of market access opportunities for small scale farmers.
Anyone over the age of 16
Can I invest if I am not in the UK?
Yes
What will my investment achieve?
- Contribute to rural development and leave a legacy.
- Job creation
- Unlocks local agricultural productivity
- Help you to build your savings.
- Earn you returns.
- Smart and dignified wealth creation so your kids do not start where you started
What is the minimum and maximum I can invest?
To be a full member, one must invest a minimum of £600 within a year either as a lumpsum or by standing order at £50.00 a month.
The maximum investment is £100,000 and set by the Financial Conduct Authority. You can add money to your Share Account in several ways.
How do I add money to my share account?
- BANK TRANSFER
If you have access to online banking, you can transfer funds directly to your Share Account. All you need is our UK bank account number 20657803 and sort code 16 58 10.
- STANDING ORDER
To set up a standing order with your bank all you need is our UK bank account number 20657803 and sort code 16 58 10.
- WISE/PAYPAL
If you are outside the UK, talk to us by emailing us at info@enaleni.org and we will advise you the best way to pay into your share account depending on where you live.
Enaleni Community offers simple interest returns, since these returns are earnings from collective Enaleni and rural farming activities. Your interest will not compound, rather, it is earned on every share you purchase directly and therefore puts less pressure on rural farmers, enabling them to earn better returns.
If I withdraw all my shares, am I allowed to re-invest at a later stage?
Yes, Enaleni Community is an open investment society, you may withdraw or deposit into your share account as much as you like. The only condition is to retain a minimum of 600 shares to remain a full member. Also, less withdrawals contributes to better returns and instils the discipline of growing one’s savings.
What is the minimum length of investment?
The minimum length of investment 2 years.
How do I withdraw money from my share account?
After 2 years one can request to withdraw their shares giving 3 months’ notice. We require the withdrawal request to be in writing to info@enaleni.org.
We deposit the money in your share account. Please note that you need to keep a minimum £600 balance in your Share Account if you want it remain a full member of Enaleni Community Limited.
Each year, the directors will make a recommendation on a proportional distribution of profits. This recommendation will be voted on at the annual general meeting. Profits are paid gross and are taxable. It is your responsibility to declare these earnings to HMRC.
Over the last few years our average interest rate has been 5%. The maximum you can earn is 7% as set by the Financial Conduct Authority.
How do I get involved as a member?
When you purchase 600 shares you become a full member of the society (Enaleni Community Limited). As a full member you have the right to attend and vote at annual general meetings, elect directors, stand for election as a director, and to inspect the share register of the society. All full members have one vote, regardless of how much they have invested.
Will my investment be at risk?
The money you deposit into a Share Account is an investment. As with all investment products there is a risk attached. You may lose part or all of your money.
Will my name be on the tittle deed of any assets purchases?
All purchases or investment will be carried out collectively in the name of Enaleni Community Limited, your ownership portion is represented by the amount of Enaleni shares you hold. The bigger your investment, the bigger your share in Enaleni’s holdings.
Is my money protected by the Financial Compensation Scheme?
No. Investment in the Society is not covered by protection such as the Financial Services Compensation Scheme (FSCS). The Financial Conduct Authority (FCA) is the Society’s supervisor in regards to compliance with anti-money laundering rules.
Can I purchase shares in someone else’s name?
Yes, you may purchase shares as an investment for a third party, your child for example. If they are below the age of 16, you retain authority on their shares until they become of age whereby, they will be able to make independent decisions on their shares.
Can my relative in Zimbabwe withdraw my shares?
No, Enaleni Community shares are non-transferable, only you have the authority to deposit or withdraw against your share account.