TUNDA
TERMS AND CONDITIONS OF USE
Tunda is operated by Pesa Bridge Ventures Limited, licensed by the Capital Markets Authority as an Intermediary Service Platform Provider, Licence No. 261
1. Who we are and what these Terms cover
1.1 Tunda is the trading name of the intermediary service platform operated by Pesa Bridge Ventures Limited, a company incorporated in Kenya under company number PVT-5M1LDY8A with its principal place of business at Philmax House, 1st Mugumoini Drive, Nairobi and its postal address at P.O. Box 2477-00606, Sarit Centre, Nairobi (Pesa Bridge, we, us or our). Pesa Bridge is licensed by the Capital Markets Authority of Kenya (the Authority) as an Intermediary Service Platform Provider under Licence No. 261, issued under the Capital Markets (Licensing Requirements) (General) Regulations, 2025 and the Capital Markets (Collective Investment Schemes) Regulations, 2023 (the CIS Regulations).
1.2 Through Tunda you invest in units of the sub-funds of the Arvocap Unit Trust Scheme (the Scheme), a collective investment scheme approved by the Authority and managed by Arvocap Asset Managers Limited, a fund manager licensed by the Authority under Licence No. 190 (Arvocap or the Fund Manager). The trustee of the Scheme is NCBA Bank Kenya PLC (NCBA Trustees) (the Trustee) and the custodian of the Scheme's assets is NCBA Bank Kenya PLC (the Custodian).
1.3 These terms and conditions (the Terms) form the agreement between you and Pesa Bridge for your use of Tunda. Your investment in the Scheme is governed separately by the trust deed of the Scheme, the information memorandum and key investor information document of each Fund and the CIS Regulations (together the Fund Documents), and by the CIS Regulations themselves. Where these Terms and the Fund Documents differ on any matter concerning your units, the Fund Documents prevail.
1.4 By opening a Tunda account, or by using Tunda in any way, you accept these Terms, the Tunda Platform Disclosure Statement and the Tunda Privacy Policy, each of which is available in the Tunda application and at https://tundainvest.io. Please read them carefully and keep a copy.
2. Definitions and interpretation
2.1 In these Terms, unless the context requires otherwise:
2.1.1 Account means the user account you open on Tunda;
2.1.2 Business Day means a day other than a Saturday, Sunday or public holiday in Kenya;
2.1.3 Dealing Day means each Business Day on which Arvocap issues and redeems units in a Fund in accordance with the Fund Documents;
2.1.4 Tunda Weka,Smart,Dola means a Plan under which you commit to leave your money invested for a chosen period of three, six or twelve months, as described in clause 5;
2.1.5 Fund means a sub-fund of the Scheme designated by Arvocap for distribution through Tunda, being at the date of these Terms the Arvocap Money Market Fund and the Arvocap Almasi Fixed Income Accumulation Fund, and any other sub-fund of the Scheme which Arvocap designates and we disclose to you in the Product Descriptions;
2.1.6 Fund Mapping means the rule, determined and owned by Arvocap, which identifies the Fund in which money paid in under each Plan is invested, as set out in the Product Descriptions;
2.1.7 Goal means a savings target you create on Tunda under clause 5.3;
2.1.8 Plan means Tunda Go,Weka,Smart,Chama,Dola
2.1.9 Product Descriptions means the document titled Tunda Product Descriptions and Fund Mapping published on Tunda, as amended from time to time;
2.1.10 Tunda Go,Weka,Smart,Chama,Dola means the Plan under which you invest without a target date or committed period, as described in clause 5.2;
2.1.11 Scheme Account means the bank account of the Scheme held with the Custodian and designated by Arvocap for the receipt of subscription money;
2.1.12 Unit means a participatory interest in a Fund; and
2.1.13 you and your refer to the person who opens an Account.
2.2 Words defined in the CIS Regulations have the same meaning in these Terms. Headings are for convenience only. References to clauses are to clauses of these Terms.
3. What Tunda does, and what it does not do
3.1 Tunda is a digital channel through which you learn about the Funds, open an Account, give instructions to buy and sell Units and monitor your investment. Our role is limited to marketing and distributing the Funds and to passing your instructions and information between you and Arvocap. We act on your instructions on an execution-only basis.
3.2 We do not give investment advice. Nothing on Tunda, including the Plans, the Goal tools, calculators, projections, fund information or any message from our support team, is a recommendation to you to buy, hold or sell any investment or an assessment of whether an investment suits your circumstances. The Fund Mapping is a product rule set by Arvocap, not advice from us. If you are unsure whether an investment is right for you, please take independent financial advice.
3.3 We do not hold your money. Every shilling you pay in is paid directly into the Scheme Account held with the Custodian, and every withdrawal is paid by Arvocap or the Custodian directly to you. At no point does your money pass through an account of Pesa Bridge.
3.4 We are not a bank and Tunda is not a deposit-taking service. Your money buys Units in a Fund, the value of which rises and falls with the value of the Fund's investments. Your capital is not guaranteed and neither Pesa Bridge nor Arvocap promises any return. Tunda is not itself a fund, and we do not manage, pool or invest your money.
3.5 Arvocap is responsible for managing each Fund, for issuing and redeeming Units, for pricing, for keeping the register of unit holders and for complying with the Fund Documents and the CIS Regulations. The Trustee holds the assets of the Scheme on trust for unit holders and oversees Arvocap, and the Custodian holds those assets in safe custody.
4. Opening an Account
4.1 You may open an Account if you are an individual aged eighteen years or older or a body corporate, in each case resident in Kenya or otherwise eligible under the Fund Documents, and if you are able to satisfy our identification and verification requirements.
4.2 Before you invest we will verify your identity and collect the information the law requires of us and of Arvocap under the Proceeds of Crime and Anti-Money Laundering Act, 2009, the Guidelines on the Prevention of
4.3 Money Laundering and Terrorism Financing in the Capital Markets, 2015 and the Fund Documents. This will include your national identification or
4.4 passport details, KRA personal identification number, contact details, a photograph, your bank or mobile money account details for withdrawals and, where applicable, information on the source of your funds. We may ask for further information at any time, and we may decline to open an Account, or suspend an Account, if we are unable to complete verification to our satisfaction.
4.5 You must give us accurate and complete information and keep it up to date. You may hold one Account only. Your Account is personal to you and you may not allow anyone else to use it.
4.6 On completion of verification you become a unit holder of each Fund in which you invest, and your details are shared with Arvocap for the purposes of the register of the Scheme, transaction processing and regulatory compliance, as described in the Tunda Privacy Policy.
5. The Plans
Every Plan works the same way underneath. Your money goes straight to the Scheme's account with the custodian, NCBA Bank Kenya PLC, Arvocap issues you units in the sub-fund shown in the Fund Mapping, and those units are registered in your name. What differs between the Plans is the way Tunda helps you organise your saving and, for Fixed Period Plans, the commitment you make to yourself.
5.1 Tunda GO (KES) is for money you want working for you without a target date. You invest any amount from the minimum below, whenever you like, and you withdraw on any dealing day. Tunda GO is intended for short- term and emergency savings and Funds are invested in the Arvocap Almasi Fixed Income Accumulation Fund (KES, Arvocap Money Market Fund (KES) and Arvocap Thamani Equity Fund (KES) in different allocations to meet the client’s objective.
5.2 Tunda WEKA (KES) let you name what you are saving for, set a target amount and a target date, and save towards it by one-off or recurring payments. Tunda Weka tracks your progress and shows an illustration of how your saving might grow, based on the assumptions displayed. Money saved towards a Goal is invested according to the target date you choose, as shown in the Fund Mapping, and you withdraw on any dealing day. A Goal is a planning tool, not advice, and the illustration is not a forecast.
5.3 Funds are invested in the Arvocap Almasi Fixed Income Accumulation Fund (KES, Arvocap Money Market Fund (KES) and Arvocap Thamani Equity Fund (KES) in different allocation to meet the client’s objective.
5.4 Tunda SMART (KES) Individual account hat lets the client save through locking the funds for 1 month,3 months, 6 months and 1 year. Tunda Smart tracks your progress and shows an illustration of how your saving might grow, based on the assumptions displayed. Money saved towards a Goal is invested according to the target date you choose, as shown in the Fund Mapping, and you withdraw on any dealing day. A Goal is a planning tool, not advice, and the illustration is not a forecast. Funds are invested in Arvocap Almasi Fixed Income Accumulation Fund (KES), Arvocap Thamani Equity Fund (KES), Arvocap Multi-Asset-Strategy Special Fund (USD), Arvocap Global Equity Special Fund (USD) in different allocation to meet the client’s objective.
5.5 Tunda CHAMA (KES) Group account that can be used to save, contribute and distribute funds to members on demand. Tunda Chama tracks your progress and shows an illustration of how your saving might grow, based on the assumptions displayed. Money saved towards a Goal is invested according to the target date you choose, as shown in the Fund Mapping, and you withdraw on any dealing day. A Goal is a planning tool, not advice, and the illustration is not a forecast. Funds are invested in Arvocap Almasi Fixed Income Accumulation Fund (KES), Arvocap Multi-Asset-Strategy Special Fund (USD), Arvocap Thamani Equity Fund (KES), Arvocap Mabruk Sharia Special Fund (KES) and Arvocap Sharia Global Equity Special Fund (USD) in different allocation to meet the client’s objective.
5.6 Tunda DOLA (USD) Individual account that lets the client save through locking the funds for 3 months. Tunda Dola tracks your progress and shows an illustration of how your saving might grow, based on the assumptions displayed. Money saved towards a Goal is invested according to the target date you choose, as shown in the Fund Mapping, and you withdraw on any dealing day. A Goal is a planning tool, not advice, and the illustration is not a forecast. Funds are invested in Arvocap Eurofix Fixed Income Special Fund (USD), Arvocap Global Equity Special Fund (USD), Arvocap Multi-Asset-Strategy Special Fund (USD) and Arvocap Sharia Global Equity Special Fund (USD) in different allocation to meet the client’s objective.
5.7 Arvocap may change the Fund Mapping, and may designate additional sub-funds of the Scheme for distribution through Tunda, by notice to us. We will update the Product Descriptions and notify you through Tunda at least thirty days before any change takes effect. A change to the Fund Mapping applies to money paid in after the change and does not move Units you already hold from one Fund to another unless you instruct a switch.
6. Paying in
6.1 You pay in by bank transfer, mobile money or any other payment channel offered on Tunda. Each payment instruction generated by Tunda directs your payment to the Scheme Account. You are responsible for any charges levied by your bank or mobile money provider.
6.2 On receipt of your payment in the Scheme Account and of your instruction through Tunda, Arvocap issues Units to you at the price applicable on the Dealing Day determined under the Fund Documents. Instructions and payments received after the cut-off time stated in the Product Descriptions are treated as received on the next Dealing Day. Arvocap confirms each issue of Units and the confirmation is shown on Tunda.
6.3 If a payment fails, is reversed or cannot be matched to your Account, no Units are issued until the matter is resolved. Money which cannot be matched to an Account is held in the Scheme Account and returned by Arvocap in accordance with the Fund Documents.
7. Your investment
7.2 Tunda shows you your Unit balance, the latest published price and yield of each Fund, the value of your holding and a history of your transactions. This information is supplied by Arvocap. Arvocap also issues periodic statements and the annual and half-yearly reports of the Scheme, which are made available to you through Tunda or directly.
7.3 The price of Units and the income from them may go down as well as up. Past performance is not a reliable guide to future performance. You may not get back the full amount you invest. In certain circumstances described in the Fund Documents and Part XIII of the CIS Regulations, Arvocap may, with the agreement of the Trustee and the approval of the Authority, suspend the issue and redemption of Units for a period not exceeding twenty-eight days.
8. Withdrawals and your right to redeem
8.1 You may instruct the redemption of some or all of your Units through Tunda on any Dealing Day, subject only to the minimum redemption and minimum holding amounts stated in the Fund Documents. This right is conferred on you by regulation 91 of the CIS Regulations and by the Fund Documents, and nothing in these Terms, in any Plan or in any feature of Tunda limits it.
8.2 A redemption instruction given through Tunda is passed to Arvocap without delay. Arvocap redeems your Units at the price applicable on the relevant Dealing Day and, within three days of agreeing to redeem, pays the proceeds less any redemption charge and any tax or levy imposed by law directly to the bank or mobile money account registered on your Account. A redemption charge is payable only if, and at the rate, provided in the Fund Documents of the relevant Fund.
8.3 If you withdraw from a Fixed Period Plan before the end of the chosen period, the only consequence is the loss of any incentive described in clause 5.4. Your Units are redeemed on the same terms as under any other Plan. We will ask you to confirm before an early withdrawal is submitted so that the loss of any incentive is clear to you.
8.4 For your protection, redemption proceeds are paid only to a bank or mobile money account held in your own name and verified on your Account. You may change that account through Tunda, subject to verification.
9. Fees and charges
9.1 The fees you pay are set out in the Tunda Platform Disclosure Statement and the Product Descriptions. They fall into two categories.
9.1.1 Fund fees are the management fee and other expenses of each Fund, which are set out in its Fund Documents, accrue within the Fund and are reflected in the published price and yield. The Fund fees are charged by Arvocap, not by Pesa Bridge, and Pesa Bridge has no power to change them.
9.1.2 Platform fees, if any, are the fees you pay for using Tunda. At the date of these Terms the platform fee is nil. Any platform fee we introduce will be shown in the Disclosure Statement, disclosed to you before you confirm each transaction, and collected in the manner described there. We will give you at least thirty days' notice before any platform fee is introduced or increased.
9.2 Pesa Bridge does not deduct any amount from money you pay in or from the proceeds of any redemption. Pesa Bridge is remunerated by Arvocap for the distribution of the Funds under the intermediary agreement between them, and that remuneration is paid by Arvocap out of its own fees and is not an additional charge to you or to any Fund.
10. Risks
10.1 Investing in a Fund carries risk. The main risks, which are described more fully in each Fund's key investor information document, are that the value of the Fund's investments may fall, that interest rates and credit conditions may change, that an issuer of a security held by a Fund may default, that a Fund may hold investments which cannot be sold quickly, and that redemptions may be suspended in the circumstances permitted by the CIS Regulations. The Arvocap Almasi Fixed Income Accumulation Fund invests in bonds whose prices move with interest rates, and its value may fall over short periods even though its objective is long-term capital appreciation.
10.2 You should invest only money you do not need for immediate expenses, and you should not rely on any Plan, Goal or illustration as an assurance of a particular outcome.
11. Goal tools, calculators and information
11.1 Tunda may offer calculators, illustrations, educational content and tools to help you set and track Goals. These are generic tools which apply the assumptions displayed with them to figures you enter. They do not take account of your personal circumstances and are not investment advice or a personal recommendation. Fund information displayed on Tunda is supplied by Arvocap and we present it as received. While we take care to present information accurately, you should refer to the Fund Documents, which prevail over any summary on Tunda product offerings.
12. Keeping your Account secure
12.1 You must keep your login details, PIN, passwords and devices secure and must not share them with anyone. You are responsible for all instructions given through your Account until you tell us that your security has been
12.2 compromised. If you suspect unauthorised access, change your credentials immediately and contact us through the channels in clause 15.
12.3 We apply security measures including encryption, secure authentication and transaction monitoring, and we may delay, decline or reverse an instruction, or suspend an Account, where we reasonably suspect fraud, unauthorised access or a breach of law, in which case we will tell you as soon as the law allows.
13. Your personal data
13.1 We collect and process your personal data as a data controller in accordance with the Data Protection Act, 2019 and the Tunda Privacy Policy. We share your personal data with Arvocap, the Trustee and the Custodian for the purposes of your investment and their regulatory obligations, with our service providers who act on our instructions, and with regulators and law enforcement where the law requires. We do not sell your data and we do not share it with unaffiliated third parties for their own purposes.
14. Communications and records
14.1 We communicate with you through Tunda, by email and by SMS to the details on your Account, and you agree to receive statements, confirmations, notices and the Fund Documents electronically. You may ask for paper copies of the Fund Documents at any time. We keep records of your instructions, transactions and communications for at least seven years and make them available to Arvocap and the Authority as the CIS Regulations require.
15. Complaints
15.1 If you are unhappy with any aspect of Tunda or your investment, please contact us through the in-app complaints form, by email to complaints@tundainvest.io or by telephone 0141 999 000. We will acknowledge your complaint within two Business Days and aim to give you a full response within seven Business Days. Where a complaint concerns matters for which Arvocap is responsible, such as the pricing, performance or redemption of Units, we will refer it to Arvocap and keep you informed, and Arvocap will respond within a further seven Business Days.
15.2 If you are not satisfied with our response, you may complain directly to Arvocap at invest@arvocap.com or to the Capital Markets Authority, Embankment Plaza, 3rd Floor, Longonot Road, Upper Hill, P.O. Box 74800- 00200, Nairobi, telephone +254 20 2264400, email corporate@cma.or.ke. Nothing in these Terms prevents you from complaining to the Authority at any time.
16. Dealing with Arvocap directly, and what happens if Tunda is unavailable
16.1 Tunda is one channel for your investment, not the only one. You may at any time give instructions concerning your Units, obtain statements and exercise your rights as a unit holder directly with Arvocap at 5th Floor, Westpoint Building, Mpaka Road, Westlands, Nairobi, by email to invest@arvocap.com or by telephone.
16.2 If Tunda is unavailable for any reason, your Units remain registered in your name and unaffected, and Arvocap will accept your instructions directly under its business continuity arrangements. We will tell you through the channels in clause 14 how to reach Arvocap during any disruption.
17. Suspension, cancellation and closure
17.1 We may suspend or cancel an instruction, or suspend your Account, where we are required to do so by law or by the Authority, where we reasonably suspect fraud, money laundering or a breach of these Terms, where your verification information is incomplete or out of date, or where a payment cannot be matched to your Account. We will tell you the reason where the law allows and lift the suspension as soon as the cause is resolved.
17.2 You may close your Account at any time after redeeming your Units or transferring your relationship to Arvocap directly. We may close your Account on thirty days' notice, or immediately where required by law, in which case we will help you move your relationship to Arvocap so that your Units are unaffected.
18. If Pesa Bridge stops operating Tunda
18.1 If we decide to cease operating Tunda, or our arrangement with Arvocap ends, we will give Arvocap at least three months' notice, as regulation 36 of the Capital Markets (Licensing Requirements) (General) Regulations, 2025 requires, we will give you the same notice through the channels in clause 14, and we will work with Arvocap on an orderly transition so that you continue to have access to your Units directly through Arvocap. Your
18.2 Units and your rights as a unit holder are not affected by the closure of Tunda.
19. Our responsibility to you
19.1 We will operate Tunda with due skill, care and diligence and in accordance with our licence and the CIS Regulations. We are responsible to you for loss caused by our negligence, fraud or breach of these Terms, including a failure to pass on an instruction within the time we have promised, and nothing in these Terms limits any liability we have to you under the CIS Regulations or any law.
19.2 We are not responsible for a fall in the value of your investment, for the performance of any Fund, for the acts or omissions of Arvocap, the Trustee or the Custodian, for delays caused by your bank or mobile money provider, or for loss arising from events outside our reasonable control, including failures of telecommunications or payment systems we do not operate.
20. Changes to these Terms
20.1 We may change these Terms to reflect changes in law or regulation, in the Funds or in the features of Tunda. We will give you at least thirty days' notice of any change through Tunda and by email, except where a change is required by law or by the Authority sooner. If you do not accept a change you may close your Account under clause 17.2 before it takes effect. Continued use of Tunda after a change takes effect is acceptance of the change.
21. General
21.1 These Terms are governed by the laws of Kenya. Any dispute which we cannot resolve through the complaints process in clause 15 may be referred by either of us to mediation in Nairobi and, failing settlement, to the courts of Kenya. This does not affect your right to complain to the Authority. You may not transfer your Account or your rights under these Terms to anyone else. We may transfer our rights and obligations under these Terms to a successor licensed by the Authority as an Intermediary Service Platform Provider, on notice to you and to the Authority.
21.2 If any provision of these Terms is held to be unenforceable, the remainder continues in force. No delay by either of us in exercising a right is a waiver of it. These Terms, the Disclosure Statement, the Product Descriptions and the Privacy Policy are the whole agreement between you and Pesa Bridge concerning Tunda.
21.3 Tunda is operated by Pesa Bridge Ventures Limited, licensed by the Capital Markets Authority as an Intermediary Service Platform Provider, Licence No. 261. Pesa Bridge does not hold client funds and does not give investment advice. Units in the Arvocap Unit Trust Scheme are issued and managed by Arvocap Asset Managers Limited, licensed by the Capital Markets Authority as a fund manager, Licence No. 190. The Capital Markets Authority does not take responsibility for the financial soundness of the Scheme or for the correctness of any statements made or opinions expressed on Tunda.
Last Updated: 7th September, 2026
Owner: Pesa Bridge Ventures Limited
Contact: info@tundainvest.io