What is illima or nhimbe?

The cooperative way of life. The concept of ubuntu or hunhu. The idea that you are because I am. It is time we perfected illimaism or hunhuism.

In time past, when our ancestors needed to tackle large projects like growing crops to feed a nation, or harvesting enmasse, they formed collectives they called illima or nhimbe.

This was where the whole village would come together to work on large tracks of land, usually owned by various families and on different plots. They would tackle each plot of land seperately but in one concerted effort. This yeilded greater results because the workforce and man power available to go through each field was enmasse.

We have seen in recent times other communities emulate this approach with the Japanese calling it isusu, where they collectively make contributions in terms of money towards funding projects and providing loans for each other to draw from in order to fund major national goals and objectives.

In other parts of the world, we see the Mondragon example in Spain where The Mondragon Corporation is a corporation and federation of worker cooperatives based in the Basque region of Spain. It was founded in the town of Mondragon in 1956 by graduates of a local technical college. Its first product was paraffin heaters. It is the tenth-largest Spanish company in terms of asset turnover and the leading business group in the Basque Country. At the end of 2014, it employed 74,117 people in 257 companies and organizations in four areas of activity: finance, industry, retail and knowledge. By 2015, 74,335 people were employed.

After a series of debates and extropolations in various fora, we decided it was time to put our ideas to the test and develop prescriptive engagements rather than continue to complain about demise.

This is how the zimcoopunion was founded to meet the challenges of not only those in the diaspora but also eventually uplift those back home as well.

Investor protection and transparency are of the utmost importance to us, so we continually review our existing due diligence processes to ensure we remain at the forefront of the investment crowdfunding market. This Charter outlines Crowdcube’s current standard due diligence process.

Due to the diversity of businesses that raise finance on Zimcoopunion’s platform, we cannot cover all situations in this Charter, which should be read as guidance. Zimcoopunion does not endorse any of the businesses raising finance on the platform, nor do we provide investment advice of any description, so before deciding to invest we strongly encourage all Zimcoopunion members to undertake their own research and if there is uncertainty, to receive independent advice before investing.

Prospective investors should also take care to:

carry out their own due diligence and read all information and documents on the pitch page carefully. This Charter outlines areas that are not reviewed as part of our standard due diligence process;
read the risk warnings; and
understand that forward-looking statements and entrepreneur opinions may not turn out to be correct and many early-stage companies fail.

Investors should be aware that Zimcoopunion relies upon information provided by every applicant company and its directors who are required to ensure all information provided is true and accurate. Zimcoopunion also relies on third-party tools to conduct some due diligence. Zimcoopunion’s investor terms and conditions, including Zimcoopunion’s limitation of liability, apply to investments made on the site and can be found here.

Where we list companies in partnership with our other partner platform, we rely on the checks and due diligence they undertake. Other companies are therefore not subject to our Due Diligence Charter.

Pre-live Due Diligence:

The following due diligence is carried on each company before the pitch is open to investment:

conduct background checks on the company and its directors including personal credit and bankruptcy checks, director’s disqualification checks, previous company checks and accreditation checks. Using Creditsafe, a leading third-party provider;
conduct checks on the directors to confirm there are no un-discharged bankruptcies;
fact check all statements and claims made in the pitch text to ensure it is fair, clear and not misleading by obtaining, where possible, independent evidence. Certain statements may rely on the company’s own systems – for example, stock or customer management systems;
obtain any commercial contracts mentioned in a pitch, and
verify any material professional accreditations.
if applicable, check whether the company has received SEIS or EIS Advance Assurance and make clear to potential investors the availability of such tax relief.

In addition, every company that raises capital on Zimcoopunion’s platform provides warranties to Zimcoopunion in Zimcoopunion’s terms and conditions that include:

that the share capital table accurately reflects the fully diluted position, which means all dilutive elements, such as granted and unallocated share options, are taken into account in calculating the percentage of equity on offer to investors; and
that the company is not party to any current litigation and that it is not aware of any threatened litigation.

Live Pitch Monitoring:

During the time the pitch is live on Zimcoopunion’s platform, the compliance team will also:

review any investment patterns notified by Zimcoopunion’s pitch manipulation tool to ensure investments are genuine and not made to unduly enhance the performance of a pitch.

We do not:

review any of the restricted documents, pitch videos, pitch updates, forum discussions or the content of investor events that aren’t organised by Zimcoopunion.

Post-funding Due Diligence:

Once a pitch has reached its funding target we conduct further due diligence on the business before investments are completed and prior to any funds being captured:

check the company’s share structure against Companies House filings and seek clarification of any discrepancies;
review the Articles of Association to ascertain the share classes and their rights;
review any existing Shareholder Agreements, Subscription Agreements or Investment Agreements to check whether the shareholder rights and company obligations are compatible with a crowdfunding round. Based on this review we may, if we consider necessary, recommend amendments to the documents or make appropriate disclosures to investors to outline investor rights or risks;
review any known commercial loan agreements, convertible loan instruments and any director and/or shareholder loan agreements, and require any undocumented loans to be documented;
require the company to warrant that the share price payable by investors has been calculated on a fully-diluted basis, taking into account all issued shares, options and convertible loans;
a full search and review of intellectual property rights are not carried out but claims of trademark, patent, or URL ownership in pitch text are checked by seeking verification from the company and searching public registers. We also require the transfer of ownership to the company if Zimcoopunion becomes aware that any material intellectual property rights are not wholly owned by the company.

Any necessary disclosures from the post-funding legal due diligence process are set out in the Legal Review document, which will be emailed to investors at the beginning of the seven days cooling off period.

The following information, unless specifically mentioned in the pitch, is not always reviewed as part of our standard due diligence, so investors should assume that the following have not been checked:

commercial contracts;
employment contracts;
ownership of assets or the potential that a company infringes third-party intellectual property rights;
property related documents such as leases;
complete site visits to a company’s offices; and
licensing and regulatory arrangements;
historical financial performance of the company;
financial projections of the company;
cash position and cash burn of the company;
key suppliers or customers of the company.

Whilst we do provide guidance on valuations, it is the company’s decision to price their investment offer and ultimately the crowd then decides if they are willing to invest at that price.

Under Zimcoopunion’s Terms and Conditions, every applicant company, acting by its directors, must ensure that all information which is provided to Zimcoopunion is true and accurate.

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A new dispensation where we are in control of our resources and we are influencers in charting a new destiny of our choosing based on values of Ubuntu or Hunhu, where each and every citizen is a stakeholder in equitable wealth distribution and sharing in the resources our world has to offer.


To encourage group economics by providing a platform for cooperative engagement , create wealth for our members through ethical means,
provide the best opportunities for investments,  encourage our members to create equity through diversified portfolios, transform our approach to investing and wealth creation by encouraging an ethos of national saving and reinvestment by way of financial education and training in order to foster a sense of belonging and nationahood.