Terms & Condition
KIRCHA SM-REIF – TERMS AND CONDITIONS
This document is an electronic record in accordance with the applicable provisions of the Information Network Security Administration (INSA) and the Ethiopian Capital Market Authority (ECMA) directives governing electronic records. This record is generated electronically and does not require any physical or digital signature.
1. Introduction
Welcome to Kircha SM-REIF, a Small and Medium Real Estate Investment Fund currently operating under the Regulatory Sandbox Program of the Ethiopian Capital Market Authority (ECMA). Kircha is developed and managed by Hizb le Hizb Capital Real Estate PLC (“the Fund Manager”) and is undergoing testing and supervision by ECMA prior to full licensing. By accessing or using the website www.kircha.et (“Website”) or the mobile application (“Application”), collectively referred to as the “Platform”, you agree to comply with and be bound by these Terms and Conditions, the Privacy Policy, and all applicable Ethiopian laws and regulations. If you do not agree with any of these terms, you may discontinue use of the Platform. References to “you” or “your” refer to users, investors, or visitors of the Platform. References to “we”, “us”, or “our” refer to Kircha SM-REIF and its operator, Hizb le Hizb Capital Real Estate PLC.
2. Nature of the Platform
Kircha SM-REIF is an investment testing initiative under ECMA’s Regulatory Sandbox. It aims to evaluate the viability, structure, and operations of a Small and Medium Real Estate Investment Fund (SM-REIF) in Ethiopia before obtaining a full license to operate as a regulated fund. All features, investment models, and services on the Platform are part of the sandbox testing phase and are subject to review, modification, or suspension as directed by ECMA.
3. Ownership and Use License
The Platform and its contents are owned and operated by Hizb le Hizb Capital Real Estate PLC. All information, graphics, design, and data appearing on the Platform are the intellectual property of Kircha and protected under Ethiopian copyright and investment regulations. You are granted a limited, non-exclusive, non-transferable license to access and use the Platform for personal and informational purposes related to sandbox testing and investment participation (if applicable). You agree not to: a) Copy, distribute, or modify any part of the Platform without prior written permission from Kircha; b) Use the materials for any unauthorized or commercial purpose; c) Attempt to reverse engineer or decompile
the Platform; d) Remove any copyright or trademark notices from the Platform. Violation ofthese terms may result in suspension or termination of access and potential legal action under Ethiopian law.
4. Disclaimer
The Platform and all its materials are provided on an “as is” and “as available” basis. Kircha SM-REIF, during its sandbox phase, does not make any warranties, express or implied, including but not limited to warranties of merchantability, fitness for a particular purpose, or accuracy of information. All investment simulations, projections, and returns shown on the Platform are illustrative and for testing purposes only. They do not represent guaranteed outcomes or investment offers. Participation in Kircha’s sandbox activities may involve exposure to risk, and users are encouraged to consult with independent financial advisors before engaging in any investment-related activity.
5. Sandbox Participation
Kircha SM-REIF operates under ECMA’s Regulatory Sandbox Program, meaning: It is not yet a fully licensed investment fund, All activities are subject to testing, data collection, and ECMA oversight, User participation (if permitted) is conducted under experimental and controlled conditions. ECMA retains the authority to modify, suspend, or terminate the testing phase at any time. Upon completion of the sandbox evaluation, Kircha may apply for a full operating license under ECMA’s Small and Medium Real Estate Investment Fund (SM-REIF) framework.
6. Limitations of Liability
In no event shall Kircha SM-REIF or Hizb le Hizb Capital Real Estate PLC be liable for any direct, indirect, incidental, or consequential damages resulting from: Your use or inability to use the Platform, Any technical failure, interruption, or error, Loss of data, profits, or reputation. Kircha shall not be held responsible for inaccuracies, omissions, or delays in information provided as part of the sandbox test environment. You agree to indemnify and hold harmless Kircha, its Fund Manager, and affiliates from any loss or claim arising from misuse or misrepresentation of the Platform.
7. Accuracy of Information
The materials on the Platform may include technical or typographical errors. Kircha does not guarantee that all content is accurate, complete, or current. Information may change as the sandbox testing evolves and as directed by ECMA.
8. External Links
The Platform may contain links to third-party websites for information purposes. Kircha does not control and is not responsible for the content, accuracy, or practices of such external websites. Accessing these links is at your own risk.
9. Modifications
Kircha reserves the right to modify or update these Terms and Conditions at any time during the sandbox testing period without prior notice. The latest version will always be available on www.kircha.et. Continued use of the Platform indicates your acceptance of the latest Terms.
10. Governing Law and Regulatory Oversight
These Terms shall be governed by the laws of the Federal Democratic Republic of Ethiopia. Kircha SM-REIF operates under the supervision and guidance of the Ethiopian Capital Market Authority (ECMA) through its Regulatory Sandbox Program. Any dispute arising during the sandbox testing period shall be resolved in accordance with ECMA’s sandbox dispute resolution procedures and, where applicable, the Ethiopian Arbitration and Conciliation Proclamation. The seat of arbitration shall be Addis Ababa, and the language shall be English.
11. Confidentiality
Kircha and its Fund Manager shall treat all user data and information with strict confidentiality in compliance with ECMA sandbox requirements and Ethiopian data protection laws. You agree not to disclose or misuse any non-public information related to Kircha’s testing or operations. Kircha may disclose user information if required by ECMA, INSA, or other lawful authorities.
12. Privacy Policy
Kircha’s Privacy Policy, available on www.kircha.et, describes how personal and financial information is collected, used, and protected. By using the Platform, you consent to the processing of your information in accordance with this policy and ECMA’s sandbox data-handling requirements.
13. Miscellaneous
Failure by Kircha to enforce any term or condition shall not constitute a waiver of that term. If any provision is found invalid or unenforceable, the remaining provisions shall remain in full force and effect.
14. Contact Us
For questions, feedback, or inquiries, please contact: Kircha SM-REIF Operated by Hizb le Hizb Capital Real Estate PLC Email: info@kircha.et Website: www.kircha.et Office: Addis Ababa, Ethiopia
