Jabula Ekhaya Savings and Investment Club is a membership-based club. People interested in joining the Savings and Investment Club are required to pay a joining fee as well as a set monthly amount deposit based on the membership plan they choose. There are four membership plans as per Table 1 below. The unit valuation system is used to determine membership in the Savings and Investment Club. This means that each Savings and Investment Club member's share is expressed as a unit, with a monetary value assigned to each unit. The units are initially valued at R1.00 per unit. Jabula Ekhaya Savings and Investment Club will issue 17 million Units as per Table 2 below. People can buy as many units as they wish. The savings are locked in for a period of three years. Members can not withdraw or sell the units during this lockin period.
Lockin period is important for members to reap benefits from investments. Having lockin period in place will help members to stay with the Savings and Investment Club for some time and reap benefits from long term investing. The lockin period also induces stability in the fund and preserving liquidity. A lockin period will restrict members from withdrawing or selling their units and keep the fund assets stable. This is done in the interest of the investors so that they can reap significant benefits from the investments.
When a member wants to withdraw from the Savings and Investment Club after three years, they can trade the units. The Savings and Investment Club members will have first right of refusal on the units that are offered for sale.
Banking Details
Account Holder: Jabula Ekhaya Group
Account Type: Mercintile Bank Account
Account Number: 1051269849
Deposit can be done at any Capitec Bank ATM