Africa CDs

Address: Two Galleria Tower, 13455 Noel Road, Suite 1000, Dallas, TX  75240

We pay better than the Banks on our CDs! We no longer write 91-day CDs!!  Call Officer direct on  +1(214)677-5476 for details.

 

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Glossary of Terms

Africa Mutual Funds' Certificates of Deposit invest in short term treasury bills and or money market funds issued by various Central Banks in our  African markets.  These CDs are for a period of between 91 days  and 1 year and are renewable for the same period of time at the maturity of the initial investment at the prevailing rate at the date such  instruments mature with the exception of 91-day CDs maturing on or after  December 1, 2008  which will not be renewed at the same tenor; they will re-invest for 180 days.  Investors not willing to accept the 180-day tenor can cash out their investments upon maturity. Recent Africa CD Rates are available below.  Minimum deposit required for rates indicated below  is $10,000.  Africa Mutual Funds reserves the right to change the rates and the minimum investment without notice.

Africa CDs are not FDIC insured.  Please inquire about the various Deposit Guarantees available to the Fund in each of the markets for our Short Term Investments.         

Month

 91-day Rates

180-day Rates

 1-year

January

4.5% 5.5%  

February

4%

5%

  

March

4.5%

 5.5%

April

4.5%

6%

  

May

4.25%

5.5%

  

June

4%

5.25%

  

July

4.5%

5.5%

  

August

4%

4.75%

  
September 4.5% 5.5%

October

4.25% 5.25%  

November

3%

4.5%

5.25%

December

***

4.5%

 5%

 

 

JUMBO CDs

Africa Mutual Funds issues Jumbo Certificates of Deposit that attract interest rates ranging between 6% and 9%.  Our Jumbo CDs are  for a minimum period of 1 year renewable for the same amount of time.  Please call the CD Manager at the Dallas office of the Fund at  (214)677-5476 for current rates.  Jumbo CDs require a minimum deposit of $50,000.  Investing $100,000 or more requires bank-to-bank transfer of funds.

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Last modified: 12/28/08