Member Terms and Conditions

1. Who we are

Accquan is a community savings and financial education initiative of GoGreen Technologies (opens in a new tab), a youth empowerment non-profit based in Buea, Cameroon. In these terms, "we", "us" and "Accquan" mean Accquan and GoGreen Technologies, and "you" means a member. You can reach us at info@accquan.net.

2. What Accquan is, and what it is not

Accquan exists to teach financial discipline, guide members towards smart use of money, and bring willing members together to save towards assets chosen as a group, such as shares or land.

Accquan is not a bank, a microfinance institution, an investment fund or a licensed financial services provider. We do not lend money, pay interest, give investment advice or guarantee any return.

3. Your account

You must be at least 18 years old to create an account.
Give us true and complete details, and keep them up to date.
One account per person. Keep your password secret and never share your account.
Tell us straight away at info@accquan.net if you think someone else has used your account.
We may suspend an account that uses false details or breaks these terms (see section 13).

4. Annual Njangis

An Annual Njangi is a savings group created by Accquan. Each one has its own daily saving amount, daily fee, late fee for missed days, opening date and closing day for saving (never later than 24 December of that year). You see all of these before you ask to join.
Once the first member of an Annual Njangi has been approved, its amounts and dates no longer change.
To join, you ask in the app, confirm that you commit to save every day, and sign our Engagement Form. An admin checks your form and your ID, then approves or declines your request. We may decline a request, for example if we cannot confirm who you are.
You may join more than one Annual Njangi.

5. Your savings commitment

Joining an Annual Njangi is a commitment to save its daily amount every day, from your start date until its closing day. Your start date is the day you are approved, or the Njangi's opening date if that is later. You can pay for one day at a time or for many days in advance. Days are always paid in order, so no day is skipped.

6. Daily fee

Each day's payment includes a fee on top of your saving (for example, 500 FCFA saved plus a 25 FCFA fee). The fee is not part of your savings and does not count towards any asset purchase. It covers the cost of processing payments and running, administering and growing Accquan. The fee is always shown before you pay. Our Fees and Late Fees page gives the details.

7. Missed days and late fees

If you miss a day, you can pay it later. A late payment costs the day's saving, the daily fee and the Njangi's late fee (for example, 500 + 25 + 50 = 575 FCFA).
If a missed day is still unpaid at the end of the saving year, its late fee is taken from your savings when they are paid out.
Late fees go to the Accquan community fund to help run the community. They are never added to your personal savings.

8. How your savings are held

While Accquan is a young community, savings are held by GoGreen Technologies (opens in a new tab) on behalf of the Accquan community, in a dedicated account, only for the purpose members are told about. They are not lent out or used for anything else. This is a temporary arrangement, based on trust, until Accquan registers as a formal cooperative. We keep clear records of every payment, and each member can see their own savings in the app.

9. Withdrawals and the end of the year

There are no withdrawals during the saving year, whatever the circumstances, except as set out in our Savings and Withdrawal Policy.
All members receive their savings together, once a year, during the community window from 25 December to 5 January. We announce the window in advance.
What you receive is the total of your savings, minus any late fees for missed days you never paid. Fees and late fees already paid are not returned.
Where members decide together to put savings towards an asset, we will explain the plan, each member's share and the risks before anything is bought. Only members who agree take part.

10. No guaranteed returns

We do not promise that your savings will grow, earn interest or make a profit. Any asset bought together, such as shares or land, carries normal market risk, which members accept when they choose to take part.

11. Checking who you are

We ask for your national ID card and a photo of you only to confirm who you are and to protect the community against fraud and impersonation. We keep this information private and use it only for Accquan administration. Our Privacy Policy explains how.

12. Community conduct

Act in good faith, be honest about your savings, and treat other members with respect, in the app and in any Accquan group or chat. Our Community Rules give the details.

13. Suspension and leaving

We may suspend or close an account that gives false details, commits fraud, or seriously or repeatedly breaks these terms or our Community Rules. We will tell you why, unless the law stops us.
If your account is suspended or closed, or you stop saving, the savings you have already made remain yours. They are paid to you in the next community window, minus any late fees owed.

14. Changes to these terms

We may update these terms as Accquan grows, for example when we register as a cooperative or after legal review. We will tell members about important changes by email and in the app at least 14 days before they take effect. Changes never alter the amounts of an Annual Njangi you have already joined.

15. Our responsibility

We take reasonable care in running Accquan. We are not responsible for delays or failures caused by things outside our control, such as mobile network outages, power cuts or problems with a payment provider. Nothing in these terms limits any responsibility that the law does not allow us to limit.

16. Problems and complaints

If something goes wrong, please tell us first at info@accquan.net. Our Complaints page explains how we handle it.

17. Law

These terms are governed by the laws of the Republic of Cameroon. We will always try to settle any disagreement in good faith and in a friendly way first.

18. Agreement

By creating an account, ticking "I agree", signing the Engagement Form or asking to join an Annual Njangi, you confirm that you have read and understood these terms and accept them, including your savings commitment, the daily fee, late fees and the end-of-year withdrawal rules.