A mobile app that allows peer to peer lending and borrowing. I was looking at it as an investment option to put in some cash for lending. Lending for 10 days gives 8% returns but you are given 55% the 8% and the rest goes to ubapesa. Ive put 1k to test and see how it works. Anyone tried it?

Who is the regulating authority?

@ngapat and @mlennyma please do share test results with fellow wazuans.

How did you arrive at that %
Lending rates are as follows
8% for 10 days
9% for 20 days
10% for 30 days.
If they give you 50% of the interest, you atleast get 5% interest per month. That translates to 60% p.a if you keep lending throughout the year, without factoring compounding.