Terms of Service

This Terms of Service (“Terms”) is a legally binding agreement between you (“User,” “You,” or “Your”) and Alphamaga Mobile(“We,” “Us,” or “Our”). By accessing, registering, or using any part of the Alphamaga Mobile platform, software, or services (collectively referred to as the “Service”), you acknowledge that you have read, understood, and agree to be bound by these Terms. If you do not agree to these Terms, you may not access or use the Service.

These Terms govern your use of the Service, including but not limited to account management, loan applications, repayment obligations, and data processing. Amendments to these Terms will be effective upon publication on the Alphamaga Mobile platform, in compliance with Ghana’s Contracts Act, 1960 (Act 25) and Electronic Transactions Act, 2008 (Act 772). We will notify you of material changes via the Service, email, or SMS at least 14 days prior to their effective date, as required by Section 29 of Act 772.

2. Definitions

The following terms align with Ghanaian legal standards:

• Account: Your personal account created to access the Service.
• Applicable Law: All laws, regulations, and rules in Ghana, including but not limited to the Data Protection Act, 2012 (Act 843), Borrowers and Lenders Act, 2020 (Act 1052), Anti-Money Laundering Act, 2020 (Act 1044), and Electronic Transactions Act, 2008 (Act 772).
• Business Day: A day other than Saturday, Sunday, or a national or public holiday in Ghana, as defined under the Holidays Act, 2001 (Act 601).
• Credit Reference Bureau: A credit reference bureau licensed under the Credit Reporting Act, 2007 (Act 726), such as the Credit Reference Bureau of Ghana.
• Interest: The cost of borrowing, calculated as a percentage of the principal, not exceeding the maximum rate prescribed by the Bank of Ghana under its monetary policy guidelines.
• Loan: Funds disbursed under terms compliant with the Borrowers and Lenders Act, 2020 (Act 1052).
• Personal Information: Data defined under Section 96 of the Data Protection Act, 2012, including name, contact details, financial records, and biometric data.
• Processing Fees: Charges for services, disclosed transparently in accordance with the Bank of Ghana Consumer Protection Policy Guidelines and the Consumer Protection Act (pending formal legislation as of 2025).

3. Your Warranties and Responsibilities

By using the Service, you represent, warrant, and agree to:

1. Legal Capacity: Be at least 18 years old and have full legal capacity to enter into contracts under Ghanaian law, as required by the Contracts Act, 1960 (Act 25).
2. Compliance: Adhere to all Applicable Laws, including but not limited to the Anti-Money Laundering Act, 2020 (Act 1044) and Cybersecurity Act, 2020 (Act 1038).
3. Data Accuracy: Provide accurate, complete, and current information, as required by the Credit Reporting Act, 2007 (Act 726), to facilitate credit assessments and KYC compliance.
4. Account Security: Maintain the confidentiality of your account credentials and not share them with unauthorized parties. You are responsible for all activities under your Account.
5. Prohibited Conduct: Not use the Service for illegal or unauthorized purposes, including but not limited to fraud, money laundering, or activities violating the Cybersecurity Act, 2020 (Act 1038), such as unauthorized access or data breaches.

4. Acceptance of Terms

1. Explicit Consent: By registering for or using the Service, you explicitly consent to these Terms and any subsequent amendments.
2. Amendments: We may amend these Terms at any time. Material changes will be communicated via SMS, email, or in-app notifications at least 14 days prior to their effective date, in compliance with Section 29 of the Electronic Transactions Act, 2008. Continued use of the Service after such notification constitutes acceptance of the amended Terms.

5. Account Registration and Use

1. KYC Compliance: To register an Account, you must provide a valid government-issued ID (e.g., Ghana Card) and proof of address, as required by the Anti-Money Laundering Act, 2020 (Act 1044) and Bank of Ghana KYC Guidelines. Failure to provide accurate information may result in Account rejection or suspension.
2. Account Suspension or Termination: We may suspend or terminate your Account for non-compliance with these Terms, Applicable Laws, or suspected fraudulent activity, with prior notice where feasible, as per Section 21 of the Data Protection Act, 2012.
3. Account Activity Monitoring: We reserve the right to monitor Account activity to ensure compliance with Applicable Laws and to prevent fraud or misuse.

6. Loans and Financial Terms

1. Transparency: All loan terms, including interest rates, processing fees, and repayment schedules, will be disclosed clearly before acceptance, in compliance with Section 12 of the Borrowers and Lenders Act, 2020 and Bank of Ghana Consumer and Borrower Protection Directive (BC/2021/12).
2. Repayment: You agree to repay Loans according to the agreed schedule. Late repayments may incur penalties not exceeding 5% of the overdue amount or as prescribed by the Borrowers and Lenders Act, 2020, with prior notification.
3. Credit Reporting: Loan defaults or late payments may be reported to a licensed Credit Reference Bureau under the Credit Reporting Act, 2007 (Act 726), with at least 7 days’ prior notice to you, as required by Bank of Ghana regulations.
4. Interest Rates: Interest rates will not exceed the maximum prescribed by the Bank of Ghana under its Monetary Policy Guidelines, ensuring fair lending practices.

7. Privacy and Data Use

1. Data Protection: The collection, storage, and processing of your Personal Information comply with the Data Protection Act, 2012 (Act 843). Please refer to our Privacy Policy (available at www.alphamaga.win/privacy.html) for details.
2. Consent for Processing: By using the Service, you consent to credit checks, data sharing with third parties (e.g., Credit Reference Bureaus), and marketing communications. You may opt out of marketing communications at any time, as provided under Section 38 of Act 843.
3. Data Rights: You have the right to access, correct, or delete your Personal Information, subject to legal obligations, as outlined in our Privacy Policy and Section 35–40 of the Data Protection Act, 2012.

8. Liability and Disclaimers

1. Service Interruptions: We are not liable for disruptions to the Service caused by third-party providers (e.g., mobile networks, internet providers) or force majeure events, as defined under the Contracts Act, 1960 (Act 25).
2. User Liability: You are responsible for any losses or damages resulting from misuse of the Service, including unauthorized Account access due to failure to secure credentials.
3. Limitation of Liability: To the extent permitted by law, our liability for any claim arising from the Service is limited to the amount paid by you for the Service in the preceding 12 months.

9. Dispute Resolution

1. Governing Law: These Terms are governed by the laws of the Republic of Ghana.
2. Arbitration: Any disputes arising from these Terms will be resolved through arbitration in Accra under the Alternative Dispute Resolution Act, 2010 (Act 798), conducted by a mutually agreed arbitrator. The arbitration decision shall be final and binding.
3. Jurisdiction: Where arbitration is not applicable, disputes will be resolved exclusively in the courts of Ghana, as permitted under Section 75 of the Data Protection Act, 2012.

10. Anti-Money Laundering (AML)

1. Compliance: You must provide accurate and complete information for AML and KYC checks, as required by the Anti-Money Laundering Act, 2020 (Act 1044) and Bank of Ghana AML/CFT Guidelines.
2. Reporting: We reserve the right to report suspicious transactions to the Financial Intelligence Centre (FIC) under Section 30 of Act 1044, with or without prior notice to you, as required by law.
3. Suspension for Non-Compliance: Failure to comply with AML/KYC requirements may result in Account suspension or termination.

11. Minors

The Service is strictly prohibited for users under 18 years old, in compliance with the Children’s Act, 1998 (Act 560). We do not knowingly allow minors to register or use the Service without verifiable parental or guardian consent, as required by Section 29 of the Data Protection Act, 2012.

12. Contact Us