Review Time
R20,100.00 invested
R4,303.52 final returns
Loss = R15,796.48
What an absolutely disgraceful business. I will steer clear of anything Abraham Cambridge or the Sun Exchange offers in the future. Invest in you OWN panels and not is some scam.
⚠️ WARNING: THE SUN EXCHANGE / USHAKA MALL TRAP ⚠️Thinking of "impact investing" with Sun Exchange? Read this before you light your money on fire.I "invested" R6,700 in solar cells for uShaka Mall. After 5 years of "green energy" promises, here is the result:Total Earnings: R1,342.44Final "Settlement": R99.55 (Yes, NINETY-NINE RAND).Total Loss: R5,258.01 (78.5% of my capital GONE).The "Disgusting" Part: Sun Exchange didn't just fail; they used a legal loophole called a "Bewind Trust" to wipe me out. When the project at uShaka Mall went south, the Trust fought a legal battle in the High Court using OUR money. Once they "won" the right to the panels, they claimed the equipment was "old" and had "hardly any value."They settled for pennies, took their "administrative reimbursements" first, and left me with R99.55 for an asset that was supposed to last 20 years.The Lesson: You don't own the solar panels. You own a "beneficial interest" in a Trust that can sell your assets without your permission, pay their own legal fees with your capital, and dump you the moment you become "unviable" due to South Africa's greylisting.Avoid. This isn't investing; it's a donation to a shopping mall disguised as a fintech opportunity.#SunExchange #SolarScam #ImpactInvesting #FinancialLoss #uShakaMall #FintechFail
I invested in two projects with ROIs looking competitive (too good to be true). The first paid well for a year or two, then roof repairs required solar system to be removed and the project halted all payments. They couldnt even sell it and insurance (which was part of management fees deducted from returns) is not paying for loss of income or damages. Now were waiting on a civil lawsuit to determine whether there will be any recovery or if it will be a total loss of investors money and we get like one update a year :'( Second project was 2 years late in commissioning due to municipality approvals not being in order at initiation. After commissioning, it paid less than 50% of promised returns. Seemed that it was over capitalised. Nevertheless, lost more than 20% when SE decided to sell assets at a loss. Would advise anyone to avoid doing business again with this management team that have no regard for investors and their investments.
They deserve a zero Star.I bought solars through crowdfunding, In 2019 now they are forcing us to accept and read teams to get our settlement withdrawals because they decided to sell it some company called Jaltech without informing us.That was unfair to us as shareholders been so loyal to Sunexchange for so many years.We don't deserve this treatment.
Forced sale of investments, without my permission for about 2/3 of the investment cost. Furthermore, the amount generated from the investment didn't cover the remaining 1/3, so basically we've made a loss. So basically, people bought solar cells, The Sun Exchange then sold those solar cells at a discount price to businesses, and refunded a fraction of what they were worth to the initial investor. Very shady stuff. Thank goodness i didn't invest much in this scam.
2020 Invested inshaka maintenance issues monies not paid , now u cant even get a hold of them Scammers i cant even get my monies out on there app otp dont work i wish no one invests with these fraudsters scammers this was a huge loss and was for my Childs Education fund
The Sun Exchange have chosen to sell my photovoltaic cells without permission from me, the owner. They say that I gave them power of attorney via an agreement that I had never seen. Power of attorney cannot be given without a signed and witnessed agreement. The agreement is a total nonsense. I shall be pursuing reimbursement of the price of my cells by whatever means possible.
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Sun Exchange is a solar project developer powering progress for African businesses and organisations with uninterrupted, sustainable, affordable energy.
After eight years running an innovative crowdsale platform to fund solar projects in Africa, the company recently made a strategic shift to focus efforts on solar project development.
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