Terms of service

1. Who we are

NdioLa (“NdioLa”, “the platform”, “we”, “us”) is operated by Kamathi GlobeISS Technologies Limited, a private limited company incorporated in the Republic of Kenya under the Companies Act, 2015, registration number PVT-3B1MD5ZR, with its registered office at Royal Gates House 78, Namanga Road, Kitengela, Kajiado County, Kenya.

These Terms form a binding agreement between you and Kamathi GlobeISS Technologies Limited. By creating an account or using the platform, you accept them. If you do not accept them, do not use NdioLa.

2. Who may use NdioLa

You may open and use an account only if all of the following are true:

• You are at least 18 years old.
• You are resident in a country where NdioLa is offered.
• You are using a mobile money number registered in your own legal name.
• You are acting for yourself and not on behalf of another person.
• You have the legal capacity to enter into this agreement.

We may ask you to verify your identity, age, residence or source of funds at any time, and may restrict your account until you do. We may refuse to open an account, or close an existing one, at our discretion where these conditions are not met.

3. Your account

You may hold one account. Your account is personal to you and may not be sold, shared or transferred. You are responsible for keeping control of the phone number and device used to access it, and for all activity that takes place on it.

The mobile money number registered to your account is the only number to which funds will be paid out. Changing it requires verification and may pause withdrawals while we complete that check.

Tell us immediately at support@ndiola.com if you believe someone else has accessed your account.

4. How markets work

A market on NdioLa is a question about a future event with exactly two possible answers. You may buy Ndio shares or La shares. The price of a share is set by an automated market maker and changes as people trade. The price of a Ndio share and the price of a La share in the same market always sum to KSh 10.

Buying a share is a purchase of a contingent contractual claim, not a deposit, a loan, a savings product, or a security. A share does not entitle you to interest, dividends, or any claim on the company.

You may sell shares back to the market at the prevailing price at any time while the market is open. Once a market closes, no further trading is possible and the position you hold at close is the position that settles.

Every market states, before trading opens: the exact question, the closing time, the settlement date, and the named public source against which it will be settled.

5. Money, fees and payouts

All amounts on NdioLa are in Kenya Shillings. Your account balance is held by us on your behalf and is not an interest-bearing deposit.

• Deposits are made by mobile money. The minimum deposit is KSh 100.
• A trading spread of 5% is incorporated into the prices shown when you buy or sell. It is not charged as a separate line item.
• A settlement fee of 5% is charged on net winnings when a market settles in your favour. Where you do not make a net gain on a market, no settlement fee applies.
• Withdrawals are made to the registered mobile money number. The minimum withdrawal is KSh 1,000. We do not charge a withdrawal fee; your mobile money provider may charge its own.
• Each winning share pays KSh 10 on settlement. This amount is fixed and does not vary with trading volume.

Full detail on timing, limits and refunds is set out in our Deposits, payouts and refunds policy, which forms part of these Terms.

6. Settlement, voiding and errors

We settle each market against the source named on the market page. Where the source publishes a result, that result is final for settlement purposes.

We will void a market and return all money paid for shares in it, in full and without fee, where:

• the named source does not publish a result, or the event does not take place as described;
• the question is found to be ambiguous such that the correct answer cannot be fairly determined;
• a material error was made in how the market was written, priced or displayed; or
• settlement would be unlawful.

Where a trade is executed at a price produced by a technical fault, or where a market is settled in error, we may reverse the affected transactions and restore balances to their correct position. We will notify affected users and explain what happened.

7. Fair use and prohibited conduct

You must not:

• hold more than one account, or trade through accounts controlled by another person;
• trade on the basis of information obtained unlawfully, or on any event whose outcome you are in a position to influence;
• coordinate with others to move prices artificially, or trade with yourself across accounts;
• use the platform to move, layer or disguise the proceeds of crime;
• use automated systems, scrapers or bots against the platform except through an interface we publish for that purpose;
• attempt to interfere with, probe or gain unauthorised access to our systems;
• provide false information to us, or use payment instruments that are not your own.

8. Suspension and closure

We may suspend or close an account, and withhold payouts on it, where we reasonably believe these Terms have been broken, where required by law or a regulator, or where necessary to investigate suspected fraud or money laundering. Where we do so, we will tell you the reason unless the law prevents us.

Where an account is closed and there is no lawful reason to withhold them, remaining funds are returned to the registered mobile money number.

You may close your account at any time. Open positions settle normally, and any remaining balance is paid to your registered number.

9. Risk, liability and no advice

You can lose the money you use to buy shares. If a market settles against your position, your shares in that market are worth nothing. Prices on NdioLa reflect what other participants are willing to pay and are not forecasts, guarantees, or statements of fact about the world.

Nothing on NdioLa is financial, investment, legal or tax advice. We are not a licensed securities dealer, investment adviser, bank or deposit-taking institution, and we do not offer any of those services.

The platform is provided as it stands. We do not warrant uninterrupted availability. To the fullest extent permitted by Kenyan law, we are not liable for indirect or consequential loss, or for loss caused by mobile network or mobile money provider failures outside our control. Nothing in these Terms limits liability that cannot lawfully be limited, including liability for fraud.

10. Complaints and disputes

Raise any complaint with us first at support@ndiola.com. We acknowledge complaints within two business days and aim to resolve them within fourteen business days. If you disagree with a settlement decision, say so within seven days of settlement and we will re-examine it against the named source and give you a written answer.

Our complaints procedure is set out in full on the Contact page.

11. Changes to these terms

We may change these Terms. Where a change materially affects your rights, we will give notice in the app and by message to your registered number at least fourteen days before it takes effect. Continuing to use NdioLa after that date means you accept the change. If you do not, you may close your account and withdraw your balance.

12. Governing law

These Terms are governed by the laws of the Republic of Kenya. The courts of Kenya have exclusive jurisdiction over any dispute arising from them.

Kamathi GlobeISS Technologies Limited · PVT-3B1MD5ZR · Royal Gates House 78, Namanga Road, Kitengela, Kajiado County, Kenya · support@ndiola.com