SUBA stands for StartUp Business Africa.
SUBA Capital has been operating since 2017. First registered as a cooperative in July 2017, as an incorporated trustee in June 2019 and limited laibility company in March 2020.
You can become a contributor by simply filling a registration form, and making your first contribution deposit.
This is because it is Central Bank of Nigeria (CBN) regulation for all financial institution (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 Federal Directorate of Cooperatives under the Ministry of Commerce. Our parent company is incorporated as limited company with the Corporate Affairs Commission (CAC). We are also members of the Association of Non-Bank Microfinance Institutions (ANMFI) affiliated to the Central Bank of Nigeria (CBN).
No!, you can't. You have to be an active contributor for at least 90 days.
Our investment plans run for minimum duration of 12 months depending your chossen plan. However, if you do choose to liquidate your investment contribution before maturity time, you are to simply give us a 90 days notice by email. Please note that there shall be a 10% management fee charged upon approval of the liquidation.
No! Interest on Savings is paid in 6 months or annually on the total savings amount contributed and return on investment (ROI) is paid every 6 months till the end of the investment plan duration.
Our savings contributions plans run for 6 to 12 months while the Agro-Investment plan run for a minimum of 12 months. See more on our "plans" page.
Being a licesend Cooperative Society, it is required by regulation that contributors pay a membership/management fee to keep the organization's operations running. Our membership management fee is paid annually. It's part of the criteria of being a contributing member of any cooperative system in Nigeria. However, this is not an extra charge as this fee is deducted from the contributors balance at the end of the contribution plan.
Yes! Once signed up, you would have a personal dashboard to monitor your contributed deposit, interest growth, and your last 5 transactions.
Yes, you would because you're breaching the initial agreement by liquidating. A Management fee of 10% on the total amount been liquidated is charged.
Yes, you can increase your monthly contribution as long as it is within the plan else, you would have to choose the appropriate contribution plan.
Yes, you could upgrade and downgrade your contributions depending on the contribution plan you are on. However, you must complete the minimum 12 months duration because interest is paid for the total we see at the end of the 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. This means you must complete the contrubtion plan before you can initiate a withdrawal.
We get our surplus from our Agro-Investment Projects and interest on approved agro-capital loans. That is where we get the surplus (interest/ROI) shared to contributors.
We invest in agriculture (farms), retail e-commerce, real estate, and other business ventures amongst other things... So, if no one requests agro-capital loans (which is almost impossible), we would still have a surplus to share as an interest/ROI to our contributing members from all the investments mentioned above.
We supplement with other investments mentioned in the answer to question 24 above.
Yes! Once signed up as an 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 agent banking services on the agent platform. Send us an email today join us as an agent.
As a contributing member, you have discounted access to SUBA Capital (business) Academy, business, and money growth strategies shared via our newletters and the ability to buy assets like cars, houses, then pay small small.
There's exactly no penalty. When you miss a month, you miss the interest for the 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 charge 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.