scam alert

We have identified fraudulent e-mails and Facebook posts which use our company brand name “Lamna” and logo. This company has no connection to Lamna.

The scam appears to offer members of the public various financial lending products. Once a person is approved for a loan, they are asked to make a deposit of sort to “activate the loan”.

LAMNA WILL NEVER ASK ANY MEMBER OF THE PUBLIC TO PAY MONEY IN ORDER TO BE APPROVED FOR A LOAN.

Please be very cautious and aware.

A chat transcript and Facebook branding are shown below.

View chat transcript.

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APR & Loan repayment period

Fixed rates range from 36% to 60% APR and payment options range from minimum 3 to maximum 24 months. Apart from the initiation and monthly fees shown below, the only additional fee is credit life insurance if the borrower does not have this already.

Renewals

All accounts may be renewed if they are up to date.

Collection

All payments are made via EFT or direct deposits into Lamna’s bank account. There are no debit orders.

Non-payment

Non-payments may result in the matters being escalated.

Illustrative example

Client borrows R10,000 for 90 days.

Loan Amount Repayment Period Monthly Repayment Total Cost of Loan Initiation Fee Monthly Fee
(Interest + Service charge)
APR
R10 000 3 months R568.40 R12 902.20 R1 197 R560 60%