9. 2. 2023

South African loan provider Lime Loans South Africa is part of the Russian Lime Credit Group. The two companies are financially interlinked. Sanctions imposed on the Russian Federation following the invasion of Ukraine in the form of disconnecting Russian banks from the SWIFT global payment system complicate international fund transfers. This is not only towards creditors, i.e. you, the investors, but also within economically interconnected entities.

Lime Loans South Africa is in a growth phase, and its operations are still funded by the parent company. Due to the inability to transfer funds from the parent company based in the Russian Federation, Lime Loans South Africa has a complicated cash flow management situation and is currently unable to meet the buyback guarantee. We are in contact with the loan originator and its parent company and are looking at possible solutions.

For this reason, we have stopped issuing new loans to Lime Loans South Africa as early as 29 April 2022. We are in intensive negotiations on the terms of the repayment schedule for all Lime Credit Group providers (i.e. Lime Zaim, Lime Loans South Africa, and Lime MX). 

We kindly ask for patience from all our investors. We are confident that the situation will be resolved, and funds will start coming in from the loan originator.

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