Picture: Tokenised assets powering mobile-money USD loans.
- Invest from US$1 into tokenised real assets, then borrow USD via mobile money without using crypto.
- Operates in SECZIM sandbox as a Collective Investment Scheme, aiming for stronger investor protections.
- Targets 48%–120% APR lending to undercut informal rates, hinging on asset quality and enforcement.
Ndarama has launched in Zimbabwe with a platform that ties tokenised real-world assets to USD lending delivered through mobile money. The company’s pitch is that users can invest as little as US$1 into tokenised assets such as property, then use those tokens as collateral to access USD-denominated loans, with disbursements routed through familiar channels like EcoCash and OneMoney. It also says customers do not need to use cryptocurrency or digital wallets to participate.
The most significant element is the regulatory structure being claimed. Ndarama says it is operating within the Securities and Exchange Commission of Zimbabwe (SECZIM) securities sandbox as a Collective Investment Scheme for tokenised securities, a classification typically associated with pooled products such as mutual funds and REITs. If accurate, that places the platform under more rigorous expectations than many tokenisation initiatives that sit outside securities-style governance frameworks.
It also outlines a governance chain that is intended to reduce counterparty risk. The statement points to independent custody of physical assets by Kreston Zimbabwe, professional asset management by Stratus Capital Partners, securities-law investor protection, and monthly and quarterly regulatory reporting, with an intention to move toward full commercial licensing after the pilot phase. These are the right boxes to tick in a tokenised asset model, but they are also the boxes that need verification over time, particularly on valuation methodologies, audit frequency, and what happens during disputes or liquidation events.
Ndarama frames its lending value proposition around the cost of credit in the informal market. It cites informal “loan sharks” charging up to 480% APR and microfinance institutions exceeding 200% APR, then argues that programmable collateral and automation can eliminate cost drivers such as manual underwriting, branch networks, legal enforcement and collection agencies. Based on that, it targets “ethical lending” at about 48% to 120% APR, with claims of no hidden fees, no penalty interest and no balloon payments, and it suggests a 50% to 65% reduction in borrowing costs. The key analytical point is that the comparison set is extremely wide: the product may be cheaper than the worst options, but the stated APR range remains high enough that affordability and borrower protection will define the platform’s social outcome more than the technology itself.
If the platform scales, it will test a practical thesis for Zimbabwe: that small-ticket participation in asset-backed investments can be paired with credit access using rails people already use daily. The investment minimum of US$1 is meant to widen participation, but the bigger test will be whether the underlying assets and credit processes stay disciplined when volumes rise. In tokenised finance, trust is not built by the existence of a token, but by how well the system behaves when the market turns, borrowers miss payments, and liquidity becomes expensive.
- Equity Axis News
