Terms of Service

1. Who we are

Africa Markets ("Africa Markets", "we", "us") operates the website at africamarkets.com, investor accounts, a trading demonstration, and the early-access (pre-registration) programme for a pan-African private markets platform. Africa Markets is operated in partnership with Capital Engine®, which provides the underlying technology. Our contact address is [email protected].

These Terms apply to everything above. When the live trading platform launches, participation in it will be governed by separate platform agreements, membership rules and the applicable regulatory framework, which you will be asked to accept at that time. Any investment in Africa Markets itself (see section 7) is governed only by its own definitive documents.

2. Acceptance

By using the website, opening an account, or submitting any form on it, you agree to these Terms, our Privacy Notice and our Disclosures & Risk Warning. If you do not agree, do not use the website.

You must be at least 18 years old. If you act on behalf of a company, fund, bank, broker or law firm, you confirm that you are authorised to bind it.

3. Your account

• Keep your sign-in details confidential and tell us at once at [email protected] if you believe someone else has used them. You are responsible for activity under your account until you tell us.
• Investor accounts give access to the investor areas of the website only. They do not give access to the administration area, and you must not attempt to reach it.
• We may suspend or close an account that we reasonably believe is being misused, breaches these Terms, is fraudulent, or is inconsistent with our legal or regulatory obligations.

4. Identity verification

Before you can use certain features, including placing orders in the trading demonstration, you must verify your identity. Verification is carried out on our behalf by Sumsub and involves an identity document and a live selfie (a liveness check), together with screening against sanctions, politically-exposed-person and adverse-media lists. See the Privacy Notice for how that information is handled.

You agree to provide genuine documents and information. We may decline, suspend or reverse verification at our discretion, including where screening needs further review, and we are not obliged to give reasons where the law prevents it.

5. The trading demonstration

The trading area of the website is a demonstration of the call-auction technology the platform will use:

• No real orders are placed, no securities are transferred and no money changes hands. Holdings shown are demonstration positions, not property you own.
• Securities, prices, "last prices", trades and auction results are generated inside the demonstration. Securities may carry the names of real companies so the demonstration is recognisable, but they are not shares in those companies, have no connection with them, and their prices are not valuations of them or quotes at which anything could be bought or sold.
• We may reset, change, pause or withdraw the demonstration, its securities, orders and positions at any time without notice.

Nothing in the demonstration is an offer, a solicitation or a recommendation, and you must not rely on it for any investment decision.

6. Early access is not an offer

Pre-registration expresses interest only. It does not open a trading account, create a client relationship, constitute an offer, solicitation or recommendation to buy or sell any security or financial product, or guarantee that you will be admitted to the platform or that it will launch in any particular form or timeframe.

Admission to the live platform will be subject to eligibility checks, including identity verification, anti-money-laundering screening and, for investors, confirmation of the categories of investor permitted under applicable law.

7. Seed round indications of interest

The seed round page describes an intended private financing of Africa Markets Inc. Submitting an indication of interest on that page:

• is not a commitment to invest by you or a commitment to accept your investment by us;
• does not create any agreement, and is not an offer to sell or a solicitation of an offer to buy any security;
• means you confirm that you are an accredited or qualified investor under the rules of your jurisdiction, and that the information you gave is accurate.

Any investment will be made only to eligible investors, only under definitive transaction documents (such as a SAFE) signed by both parties, and only where the offering complies with applicable securities laws. Those documents, not this website, will govern the investment.

8. No advice

Nothing on the website is financial, investment, legal, tax or accounting advice, and nothing constitutes "advice" or an "intermediary service" as defined in the Financial Advisory and Intermediary Services Act, 2002 (FAIS). Content such as company profiles, deal pages, market data, valuations, projections and commentary is general information and may be indicative, delayed, illustrative or derived from third-party sources. Always obtain independent professional advice before making an investment decision.

9. Your obligations

You agree to:

• provide accurate, current information and keep it up to date;
• use the website only for lawful purposes, and not to interfere with its operation, probe or bypass its security, scrape its content, use automated means to submit forms or place orders, or misrepresent your identity or affiliation;
• keep any verification codes, links or sign-in details we send you confidential.

10. Intellectual property

The website, its design, text, graphics, logos, data compilations and software are owned by Africa Markets, Capital Engine® or their licensors and are protected by copyright and trade mark law. You may view and print pages for your personal, non-commercial use. Any other use requires our prior written consent. "Africa Markets" and the Africa Markets logo are our trade marks; "Capital Engine" is a registered trade mark of its owner. Company names and logos shown on the website belong to their owners and are used only to identify those companies.

11. Third-party content and services

The website displays content from, and links to, third parties (for example, market intelligence providers and company websites), and some features are provided by third-party services such as identity verification. We do not control and are not responsible for third-party sites or content, and a link does not imply endorsement.

12. Availability and changes

We may change, suspend or withdraw any part of the website, accounts, the demonstration, the early-access programme or these Terms at any time. Material changes to these Terms will be posted on this page with a new effective date; continued use after that date means you accept the updated Terms.

13. Disclaimer of warranties

The website is provided "as is" and "as available". To the fullest extent permitted by law we exclude all warranties, express or implied, including that the website will be uninterrupted, error-free or free of harmful components, or that any information is complete, accurate or current.

14. Limitation of liability

To the extent permitted by law, Africa Markets, Capital Engine® and their directors, employees and agents will not be liable for any indirect, incidental, special or consequential loss, or any loss of profit, revenue, data or opportunity, arising from your use of or inability to use the website, including any reliance on the trading demonstration. Nothing in these Terms excludes liability that cannot be excluded under the Consumer Protection Act, 2008 or other applicable law.

15. Governing law and disputes

These Terms are governed by the laws of the Republic of South Africa. The courts of South Africa have exclusive jurisdiction over any dispute about the website, without prejudice to any rights you may have under mandatory consumer-protection law in your country of residence. Any investment in Africa Markets Inc. is governed by the law chosen in its own transaction documents.

16. Contact

Questions about these Terms: [email protected].