In this Agreement, unless the context indicates otherwise, the following terms and expressions shall have the meanings specified below:

1. Agreement refers to these Terms and Conditions, which may be amended or modified by MTN from time to time. 
2. Applicable Law means the laws of the Republic of Uganda.
3. Calendar Day means each day shown on the calendar beginning at 0000 hours, including Saturday, Sundays and designated or gazetted public holidays;  
4. Opt Out means a request by a Customer to close their Yinvesta account.
5. Customer means the person who has created a Yinvesta account using their MTN mobile money wallet.  The account is created after the customer has accepted the product terms and conditions.
6. Data Protection Law means the Data Protection and Privacy Act, 2019 and Data Protection and Privacy regulations Act, 2021 Laws of Uganda, the regulations thereunder and any other legislation applicable to the protection of personal information in Uganda as may be amended, restated or replaced from time to time;  
7. Equipment includes your mobile phone, tablet and or other equipment which when used together enables you access your Yinvesta Account; 
8. Fees means all charges by MTN MoMo for the services of providing the Sanlam Income Fund. There are no associated fees with depositing and withdrawing funds to and from the Yinvesta account.
9. MTN platform means the MoMo platform that enables Customers access to the Yinvesta product
10. MTN Yinvesta means the account opened by a Customer for investment of funds into the Sanlam Income Fund managed by Sanlam Investments East Africa Limited as the fund manager; 
11. Initial Deposit means the amount of money starting from a minimum   of One thousand Uganda Shillings (UGX 1,000/-) transferred by a Customer from their MTN MoMo wallet to Yinvesta; 
12. Interest means the return you earn for saving your money with Yinvesta and it’s calculated daily on the customer’s invested balance. Interest is between 10% to 12% per annum.  
13. Personal Information means your full name, mobile number, email address, ID/Alien ID/Passport Number, and any other related information that will enable MTN to identify you and comply with the regulatory “Know Your Customer” requirements as well as its products and services; 
14. Auto-Savings means the amount of money transferred from a Customer’s MTN Account to Yinvesta in a predetermined frequency which may be set by the Customer to either daily, weekly, monthly or annually as may be set by the Customer; 
15. Request means an instruction received from your Yinvesta Account through the MoMo platform and upon which MTN is authorized to act; 
16. Sanlam Income Fund means the fund under the Sanlam Umbrella Fund Unit Trust Scheme managed by Sanlam Investments East Africa Limited as licensed and regulated by the Capital Markets Authority of Uganda.
17. Services refers to the investment of funds in a Customer’s Yinvesta account, as well as any other services that MTN may provide to a customer related to Yinvesta under this Agreement. Services currently include but not limited to Auto saves, Statement, withdraw, Investment rate Inquiry, Investment Calculator.
18. Withdrawal Request means the request by a Customer to transfer funds from their MTN Yinvesta account including the principal balance or interest earned from  Yinvesta investment.

1. The MTN USSD platform is accessible through the USSD platform *165# following the steps below:
   1. 1.1 Dial *165*7*1#
   2. 1.2 Enter your MoMo PIN to unlock the power of Yinvesta
   3. 1.3 Select 1 for Yinvesta
   4. 1.4 A link to the Ts & Cs is displayed…
   5. 1.5 The customer is successfully registered…
2. We shall process any Personal Information shared with us…

1. MTN provides you with access to the Sanlam Income Fund, a unit trust fund. This fund is a pool of money collected from a group of investors (including you) that is utilized to purchase a portfolio of financial assets
2. The Sanlam Income Fund is regulated and governed by the Capital Markets Authority of Uganda 
3. The daily return for investors in the Sanlam Income Fund primarily comprises of interest earned but may also include gains or losses from specific instruments held. 
4. Past performance is not an indicator of future performance as price of units may rise or fall and in certain specified circumstance the right to redeem units may be suspended.
5. Please be aware that you assume all investment risks associated with the funds invested in the Sanlam Income Fund. It is advisable to familiarize yourself with the relevant materials, terms and conditions, and investment risks linked to the Sanlam Income Fund. For more information about the Fund, please click here. Here 

1. To Opt in the Services, a Customer must meet  and fulfill the below requirements: 
   1. have a MTN Mobile number;
   2. be at least eighteen (18) years old; 
   3. You are not listed on any sanctions list of prohibited or restricted parties.
   4. You have given us the right information; and
   5. You read and understood these Terms before you created a Card.

    

2. By opening a Yinvesta account ,  You confirm that you meet all the specified requirements and agree not to use the Services for any Unlawful Activities. 
3. The terms of this Agreement shall remain in force until you Opt out from the Services and/or close your MTN MoMo account.  
4. MTN has the right to deny your application for a Yinvesta Account or revoke your customer privileges at any time, at its sole discretion, without needing to provide a reason or notice.

The customer will dial *165*7*1# and select Yinvesta. They will then be presented with the terms and conditions, which they must accept to enroll in the Yinvesta service.

1. The customer should take the time to read and understand the Terms and Conditions outlined in this Agreement, including any updates made by MTN, before using the Services.
2. By clicking the “Opt in” option on the MoMo platform, you consent to be bound by the terms of this Agreement, confirming that you have read, understood, and agreed to comply with it. If you do not agree, please select the “Decline” option. Be aware that if you choose “Decline,” you will not have access to the Services.
3. By  accepting these terms and conditions, you agree to adhere to and be bound by these Terms and Conditions. You also confirm that these Terms and Conditions do not limit any other rights you may have regarding the Services or under the law.
4. This Agreement may be modified or changed at MTN’s sole discretion. Your continued use of the Services signifies your acceptance of any amendments or variations. We will make reasonable efforts to inform you of any changes, which may be communicated via the platform, SMS, or email

Upon ‘’Opt in’’ a Customer shall be able to transfer funds from his MoMo wallet to Yinvesta.

1. A Customer may submit instructions to transfer a portion of the funds held in their Yinvesta (a Withdrawal Request) or all the funds held in their Yinvesta (Opt-out or a Closure Request) into their MTN wallet at any time. 
2. For the avoidance of doubt, a Customer cannot withdraw funds exceeding the funds available in the Customer’s Yinvesta.
3. We shall acknowledge a Withdrawal Request or Closure Request by SMS, and a platform Notification. Upon issuance of the acknowledgement by MTN (Upon the customer entering their PIN to access the Yinvesta product), the balance in the MTN Wallet and Yinvesta will be adjusted accordingly and:
4. Any delays in processing a Withdrawal or Closure Request shall be communicated to you by MTN. 
5. The Customer hereby acknowledges and agrees that MTN will not be liable for any delay of withdrawal of funds or deposit of funds into MTN Yinvesta, 

1. A Customer may terminate this Agreement at any time and for any reason by the Opt Out option from Yinvesta or closing their MTN Wallet. 
2. MTN reserves the right to suspend or delete a Customer’s Yinvesta at any time, with or without cause upon suspicion that a Withdrawal Request is fraudulent, illegal or in the performance of an Unlawful Activity. 

1. Interest earned in your Yinvesta will accrue daily and can be withdrawn at the end of the month.
2. We will show the daily interest earned on your funds in your Yinvesta and a monthly report upon request shall be shared by MTN to each Customer showing the daily interest earned on Yinvesta
3. The interest rate advertised by Us will represent the annual rate of return and will reflect all fee deductions…

1. A Customer is liable for maintaining the confidentiality of their Mobile Money PIN. To be clear, MTN will not be liable for any losses incurred by a customer as a result of stolen or compromised PINs. Each Customer is accountable for all transactions, deposits, and withdrawals made through their Yinvesta

1. You authorize us to handle all Requests received from you (or that appear to come from you) through the MoMo platform, and you will be held accountable for them. We retain the right to reject any Request at our discretion.
2. We maintain the right to reject any Deposit or Withdrawal Request that we view as fraudulent, suspicious, or not in line with your regular transaction behavior, regardless of past approvals for similar transactions. We will inform you of any rejections and the necessary steps to rectify the situation.
3. We will be deemed to have acted appropriately and met our obligations, even if a Request was made, sent, or communicated in error or fraudulently. You will still be held accountable for any Requests we process in good faith, believing them to be valid instructions from you
4. We may, at our discretion, opt not to act on or completely process your Request until we have obtained additional inquiry or confirmation from you, whether in writing or by other means.
5. In the event of any conflict between the terms of a Request you submit and this Agreement, the terms of this Agreement shall take precedence. You consent to release and indemnify us from all claims, losses, damages, costs, and expenses arising from or associated with our actions (or inaction) in accordance with any aspect of your Requests.

1. Sanlam Income Fund deduct’ s an Annual Management Fee of 1.5% per annum on the value of the amount invested in the Sanlam Income Fund. The Annual Management Fee will be deducted before interest is paid and will not be part of the transactions on the MTN USSD platform. 
2. MTN MoMo may also levy a service fee of 1% on the interest accrued by each customer, which will be deducted from the overall rate of return.

1. A Customer shall indemnify and hold MTN and its related entities harmless for any actions undertaken under this Agreement or in compliance with a Customer’s instructions against any loss, charge, damage, expense, fee or claim which MTN may suffers, incurs, or sustains.  
2. The indemnity set out in clause above shall include but not be limited to: 
   1. all demands, claims, actions, losses and damages of whatever nature which may be brought against MTN as a result of any unavailability of any hardware, software, or equipment required in the provision of the Services; 
   2. any loss or damage occasioned by misuse, abuse, or possession of any third-party software, including without limitation, any operating system 
   3. any loss or damage occasioned by the failure by a Customer to adhere to this Agreement and/or by supplying of incorrect information; or
   4. any loss or damage occasioned by failure or unavailability of third-party facilities or systems.

1. MTN will not be liable for any , transfer, remittance, disclosure, any activity or any incident on your MTN Account and/or Momo Invest by the fact of the knowledge and/or use or manipulation of your MTN Account PIN. 
2. MTN shall not be responsible for all liability for loss, liability, damage (whether direct, indirect or inconsequential), personal injury or expense of any nature whatsoever which may be suffered by a Customer, as a result of or which may be attributable, directly or indirectly, to the Customer’s access and use of the MTN platform, any information contained on the MTN platform and your Personal Information transmitted over the platform. 
3. MTN shall not be liable for any losses or damages suffered by a Customer as a result of or in connection with:
   1. An issue or fault on the MTN platform or any Service that results from a Customer’s alteration or attempted alteration of the MTN platform.
   2. unavailability of sufficient funds in a Customer’s MTN Account;
   3. the funds in a Customer’s MTN Account being subject to legal process or other encumbrance restricting payments or transfers thereof; 
   4. a Customer’s failure to give proper instructions for a Withdrawal or Closure Request;  
   5. any Unlawful Activities being conducted through the MTN U platform; or 
   6. a Customer’s failure to comply with the terms of this Agreement. 

1. MTN understands that your personal information is important to you. By using our products and/or services, you acknowledge that your personal information will be processed by us and third parties (if necessary) according to our Privacy Policy, which is in line with all applicable laws on Data Privacy and Protection. 
2. It is your responsibility to read and understand the contents of the Privacy Policy which is available on our website at https://www.mtn.co.ug/privacy-policy/ or you can ask us to email it to you. 
3. MTN will maintain the confidentiality of your personal information and will implement security safeguards to secure your personal information as set out in the Privacy Policy. 
4. The Privacy Policy is an important part of these terms and includes what personal information is; what information we process; how we process your information; where we collect your information; who we share your information with; your rights as a data subject and the complaints contact details.

1. You hereby undertake and agree to fully indemnify and reimburse MTN against all claims, losses, damages, actions, proceedings, expenses, costs, interest, and charges whatsoever which may be taken or made against or incurred by MTN in relation to the misuse of your Yinvesta Account. 
2. If we are unable to debit Your account because the account has been closed or for any other reason beyond our control, your instructions shall not be honored. 
3. You agree and acknowledge that the Yinvesta services provided by MTN are reliant on the availability and functionality of networks, platforms, and services of third parties outside the control of MTN. 
4. We do not accept liability if we are unable to provide part the service for a reason beyond our control (for example, industrial action, failure of power supply or equipment, failure of third-party services and platforms etc.).
5. Non-enforcement of any condition of this agreement, or delay in enforcing such condition will not prevent MTN from enforcing the conditions at a later date.
6. MTN is not responsible if a request for authorization is declined if the decision to terminate, suspend or expiry of Your Yinvesta Account has already been communicated to You.
7. MTN will not be liable for:
   1. Any withdrawals authorized by You using Your PIN. 

We may change, amend, repeal, add or update the terms and conditions of this agreement from time to time after giving you 30 days’ notice via SMS, through our website, and/or by any other means as determined by us. Changes favorable to you may not require prior notice.

1. MTN, as part of the MTN Group, is obliged to comply with international and local sanctions and anti-money laundering laws and policies. MTN will, due to these obligations and further towards fighting and combatting fraud and related criminal activities, therefore, screen, verify and process all wallet holders/MTN MoMo Customers and thereafter monitor all information, instructions, and transactions by and on behalf of the wallet holder or guarantor and the business relationship on a continuous basis. This may result in the prohibition, limitation, or delay in the execution of instructions or transactions and even in the suspension of the account and the declining or terminating of any transaction or the business relationship with the wallet holder. To the extent permitted, MTN shall advise the wallet holder of any action it intends to take in terms hereof. The wallet holder acknowledges and confirms that neither MTN Group, nor its employees, officers, or directors, shall be liable for any direct, indirect or consequential loss, damage, cost or expense whatsoever that may be suffered or incurred by the wallet holder as a result of, or arising from or relating to any such prohibition, limitation, delay, decline or termination due to the implementation of this clause.
2. You hereby undertake and warrant that when using the Yinvesta account:
   1. You will comply with all applicable laws and that the card and/or the account will not be used for any unlawful purposes including engaging in unlawful gambling activities via the internet or any other means.
   2. You will comply with all applicable anti-corruption laws; and Disclosure and data retention.
3. You hereby expressly consent and authorize MTN to disclose any Transaction data or information pertaining to your MoMo Account to any third party for the purpose of execution of this agreement, third party, any law enforcement, investigative or regulatory authority including without limitation the Uganda Revenue Authority or Financial Intelligence Authority or any other regulatory authority   for the purposes of any genuine enquiry or investigation or to any third party to which you have separately, either in writing or electronically through the MoMo System or otherwise, authorized  to disclose Transaction data or information pertaining to you or your usage of  Products and Services, including your MoMo account provided that any consent given to us to disclose information to any third party (not being a law enforcement, investigative or regulatory authority) pursuant to this clause may be withdrawn at any time.
4. You acknowledge and consent that you authorize us to process your Personal Data and to transfer your Personal Data out of Uganda for the purpose of execution of this agreement and within the ambit of relevant laws and regulations.
5. You acknowledge that where your Account is determined by a competent judicial authority as containing proceeds of any criminal or money laundering activities, we may be required by law to surrender funds in your account to any statutory fund created for the purpose of recovering the proceeds of crime.
6. You acknowledge that we may retain your Transaction data for a period of up to ten (10) years after expiry of this agreement or as may be required by any law or regulation

1. The terms and conditions, together with all relevant MTN policies, as changed or replaced by MTN and documentation issued to You, will form the whole of the agreement between You and MTN. 
2. Every provision of the terms and conditions is deemed to be separate and severable. If any provision is found to be defective and unenforceable for whatever reason, the provision may be severed from the remaining provisions and the validity of the remaining provisions will continue to be of full force and effect.
3. You shall not be entitled to cede or assign to any other person any of the Your rights or obligations in respect of or arising out of the agreement or the use of the account without MTN’s prior written consent.
4. MTN shall be entitled to cede and assign its rights and obligations in respect of or arising out of the agreement or the use of any card or the account by giving notice thereof to You. Failure to provide the client with notice shall, however, not affect the validity and enforceability of such cession and assignment.
5. Notwithstanding anything to the contrary in the agreement, MTN shall be entitled to amend the terms and conditions from time to time. The updated version shall be published on MTN website at product commercial go live date

By using our Product and as a result, agreeing to our Card Privacy Notice, you consent to our use of Your Personal Information and data. For more information about how Your Personal Information and data is collected, used, processed, shared, retained and secured  please see our Privacy Notice, available at https://www.mtn.co.ug/privacy-policy/

1. The MTN platform, Yinvesta, names, logos, signs, domain names, service marks and other indicators of origin displayed on the platform along with all intellectual property relating to them and contained in them are owned by MTN or our affiliates and partners. 
2. The Sanlam Investment East Africa Limited, names, logos, signs, domain names, service marks and other indicators of origin displayed on the platform along with all intellectual property relating to them and contained in them are owned by Sanlam Investments East Africa Limited.
3. Any derivative intellectual property resulting from the collaboration between MTN and Sanlam Investments East Africa Limited shall vest jointly in each of the parties unless developed independently
4. Nothing contained on the Website or MTN platform should be interpreted as granting any license or right to use any intellectual property without MTN’s prior written consent.

1. Use of the MTN platform, Yinvesta and any other accompanying Services shall in all respects by the laws of Uganda. 
2. The parties agree that the courts in Uganda shall have exclusive jurisdiction over all disputes arising from the terms of this Agreement.

1. MTN reserves the right to suspend any Services provided to a Customer or modify the eligibility requirements for those Services at any time
2. MTN has the authority to suspend or terminate any Customer account if it believes that the account is being used for illegal activities, fraudulent purposes, or for reasons not specified in this Agreement.