FAQ

We have made conscientious effort to provide you as much information
as conceivably possible in this page and yet we make no representation
to commit that these information are not subject to changes as may be
warranted. Thus the best approach is contacting us to
support@africunia.com or info@africunia.com for current update(s)
relevant to your specific need.
What is AFRICUNIA?

AFRICUNIA Limited is registered in England under the United
Kingdom Government’s Standard Industrial Classification (SIC) for
Banks and Financial Services. The “CUNIA” in “AFRICUNIA’ comes
from the Latin word “PERCUNIA” meaning “money” or “cash”
whereas “AFRI” is the abbreviated version of AFRICA. Therefore
translated - AFRICUNIA means African Money or African Cash.

What is AFCASH?

AFCASH is the digital coin (CryptoCurrency) that will be created by
AFRICUNIA BANK. It is essential to point out that AFCASH would
not just be a CryptoCurrency, rather it will create an Ecosystem that will
help bridge the gap between the fiat and the crypto universes and enable
users globally.

What is the main objective and business of AFRICUNIA?

Our main business is Fiat Currency and Cryptocurrency Bank
Operations. We are introducing an innovative banking model that allows
the use of fiat and digital currency without hurdles, risks and technical
barriers linked with owning, transferring, and trading in cryptocurrencies
and tokens.

Who are the people behind AFRICUNIA BANK project?

Our team is made up of talented, inspiring, and diligent individuals from
around the globe. Together, we share the passion for coding, creating,
and ultimately building an open, accessible and fair futuristic financial
future, one piece of time. Our leadership players have a proven track
record in the fields of financial technology, cryptocurrencies, venture
capital, entrepreneurship, product development, asset management, and
legal structuring. The comprehensive profiles of the individuals behind
AFRICUNIA Bank project are available our website under The Team page

When will the Bank project actually kick-off?

Our Bank project is estimated to take off sometime around June/July
2018 after the completion and testing of our Blockchain Technology and
Bank Infrastructure.

What is an ICO?

ICO (Initial Coin Offering) is a model of crowdfunding that allows us to
issue Digital Shares (Tokens) in exchange for investments. Each Token
will entitle its holder to a share of AFRICUNIA Bank’s annual profit
distributed proportionately among all token holders.

When is the start date and time of the Pre-ICO?

The Pre-ICO launches on December 1st 2017 at 12:00 PM UTC and will
last for 4 weeks, ending on December 31st 2017 at 12:00 PM UTC.

What is the start date and time of the ICO?

The ICO launches on January 1st 2018 at 12:00 PM UTC and will last
for 3 months, ending on May 31st 2018 at 12:00 PM UTC.

Where can I learn more about the AFRICUNIA Bank Project?
What is the expected value of AFCASH?

The initial price of 1 AFCASH is fixed at $0.10 USD during the Pre-
ICO and ICO. The capital that has been placed into the Project during
the funding, media coverage through the development of the Project and
dividend expectancies will be the main form factors for the AFCASH
exchange rate once it is listed at cryptocurrency exchanges after the ICO.

How do I invest in AFRICUNIA Bank project?

Purchase of Tokens will be available on Africunia.com in the
Crowdfunding Dashboard. During the ICO you will be able to purchase
AFRICUNIA Tokens (AFCASH) using multiple payment methods:

• Bank wire transfer in USD, EUR, POUNDS, NAIRA (Minimum purchase
amount 100 AFCASHs)
• BITCOIN, ETHEREUM, RIPPLE, LITECOIN, DASH, DOGECOIN and
other Tokens/Coins, via direct/AFRICUNIA in-house Exchange
(Minimum purchase amount 100 AFCASH). Please check the complete
list of acceptable coins on our webiste
• Multiple cryptocurrencies supported by ShapeShift.io or any other
platform as the case may be (Minimum purchase amount 100 AFCASH)
• Debit/Credit card payment (Visa/Mastercard) (Minimum purchase
amount 100 AFCASHs).

What is the minimum investment?

During the Pre-ICO and ICO 1 AFCASH = 0.10 USD. The minimum
purchase amount for all types of payments: USD, EUR, POUNDS,
NAIRA bank wire transfers and Debit/Credit card payments
Visa/Mastercard) is 100 AFCASH

What if the minimum milestone is not achieved?

To ensure solid financial security for our investors and their funds
AFRICUNIA has set an arrangement with two individuals that will
provide the escrow services. In case the first milestone is not achieved
by the end of the ICO all investments will be refunded. You can find the
“Escrow Details” on our website under “Documents” page.

What are the bonuses for investors?

During the Crowdfunding, 1 AFCASH Token will be provided for the
equivalent of every $0.10 US dollars donated. Referral Bonuses will be
available during the 6 months of the Crowdfunding as follows:

10% Bonus shall be given to referrals whose referred friends
successfully purchased AFCASH Tokens.

The bonus will be immediately added to the number of tokens you
receive as a result of your referral. The total investment will be visible
on your balance.

We won't be providing any bulk discounts.

How can I make a wire transfer in USD or EUR?

In order to purchase AFCASH in USD , EUR, POUNDS, NAIRA via
a bank transfer select “Wire USD” or “Wire EUR” “Wire POUNDS”
“Wire NAIRA” as the payment method and enter your desired
investment amount. Check the total of your investment and the resulting
AFCASH and click “Invest” to create an order.

“Can I make a wire transfer from another currency account, such as
YEN, Yuan, Lira” - Yes, you can, but you’ll need to consider your
bank’s exchange rate. Please contact your bank for more information
prior to making a transfer.

Important: please make sure to add the Transaction Reference ID
number to the payment description of your transfer using the following
template: “Africunia.com Transaction Reference ID: xxxx”. The bank
may not accept a payment without a valid payment description.

Once the order is created, you’ll see all of the bank details required to
complete the payment (including name, address, account number and
SWIFT code) on the screen. You can also always check the order details
and status under Transactions History in your Dashboard.

Though wire transfers can sometimes take a few days to process the
bonus will be added based on the date the order was created and not the
transfer confirmation date (limited to 5 days from the order creation
date).

Note that some banks may request a copy of the agreement between you
as an investor and the beneficiary: AFRICUNIA LIMITED. You can find the
copy of this agreement, known as the Terms and Conditions on our
website under “Documents” page.

Once the transfer is successful, you’ll see the purchase status change to
“paid” in Transactions History.

“Can I make a SEPA payment” - Yes, you can!

How can I make a purchase in cryptocurrency?

Please select a cryptocurrency from the currency selection menu and
enter the number of coins sent. Check the resulting amount of your
investment and AFCASH including the bonus.

Please note, BTC, ETH, RIPPLE, DASH, DOGECOIN, and other coins
investments can be madedirectly, while all other cryptocurrencies are
accepted via Shapeshift.io or otherplatforms and as such will have a
processing fee associated with them, included in the total.

Once you click “Invest” and the order is created, you will see a unique
address where you need to send the coins to. You can either enter the
payment address and amount to your wallet or scan the QR code.

Please remember to add your wallet’s transaction fee to the indicated
total. We advise contacting your wallet provider to learn the
recommended fee. The purchase total in cryptocurrency will be locked at
the moment the order is created and will remain locked regardless of the
currency’s exchange rate fluctuations.

“What exchange rate do you use” - for the ETH exchange rate we use
Etherscan.io, for BTC - BTC-E.com and Bitstamp.net as a reserve
option and the rate of USD is fixed. The exchange rate is updated for
each investment during order creation.

Please note that you will have 24h to complete the transaction. Order
details, including the address and the total, will also be available in the
Transactions History in case you would need these details later (e.g.
accidentally closing your browser or
completing the transfer later, but
still inside the 24h window).

Once the transaction has reached confirmation within the required
number of blocks, your order will be confirmed and the AFCASH added
to your account.

Will there be an additional issue of tokens?

The total amount of tokens will be determined by the results of the ICO.
There will be no additional token emission other than the amount issued
and stated in our Whitepaper which is available on our website under
“Documents” page.

How do I know my tokens are secure?

In order to make sure that your Tokens remain safe, we encourage
investors to use the two-factor authentication (2FA). If you have lost
access to your account, there is an option to change the account
password. Please make sure to include and confirm your phone number
in the Settings to be eligible for password reset. Once the ICO is over,
each investor will be able to send AFCASH Tokens to private wallets.

How do I register an account?

You will need to sign up for an account in order to participate in the
AFCASH Crowdfunding. To register an account, please visit the
registration page.

What's the expected ROI?

Due to the nature of the business and differences between the investment
goals we can achieve, the ROI may vary. For now, you may refer to our
Business Prospectus which is available on our website under “Documents”
page, where we have analyzed the perspectives of our approach in
comparison to several major banks. This will help you understand the
vision of our operations, while the actual profitability of the business
will depend on the number and types of services we will have at our
disposal as a result of the ICO.

Where and how to store AFCASH tokens and receive dividends?

At the end of a financial year 20% of distributable profit of
AFRICUNIA Payment Institution or AFRICUNIA Bank is transferred to
the Ethereum wallet containing the Smart Contract from where it is then
redistributed proportionately to all holders of AFCASH tokens
according to smart contract conditions. In order to receive the dividends,
AFCASH has to be stored on the wallet, such as the wallet available in
the dashboard on the Africunia.org website, MyEtherWallet, Mist, etc.

Where can I find AFRICUNIA BOUNTY campaign details?

You can find a comprehensive AFRICUNIA Bounty program guide in
our MEDIUM BLOG POST here:
https://africunia.com/index.php/bounty-campaigns-africunia-banks/

Why doesn’t AFRICUNIA list for an IPO?

As we are building the first AFRICAN Crowdfunded Bank, the classical
IPO model will not fit into our plans. There are specific requirements for
investors who participate in IPOs which means that many of our
supporters will never have a chance to participate.

Do you accept cooperation proposals?

Yes, we do. Please send your proposal to support@africunia.com or
info@africunia.com and we will make sure to reach out to you by the end
of the ICO if there is an opportunity for cooperation.

Does AFRICUNIA have plans on cooperating with cryptocurrency and blockchain businesses once the payment institution is deployed?

We believe that cooperation with cryptocurrency and Blockchain
businesses is key to establishing a solid source of income on a market
almost free of competition. This, however, does not mean that we will be
less strict with our due diligence. We will welcome only those
businesses that will be ready to cooperate with us on compliance
procedures, including thorough audit.

Is Afcash ERC20 compliant?

Yes, AFCASH Token is ERC20 compliant and as such can be stored on
Ethereum wallets which support this protocol, such as the wallet offered
on Africunia.com Dashboard, MyEtherWallet, IMToken Wallet, Mist, etc.

Where can I find the Smart Contract code?

The AFCASH token Smart Contract link will be provided here:

https://etherscan.io/address/0xd0f51907e541e63ec338e0e210dc33a6c7871096

My bank takes a few days to complete a wire transfer. Will I still get the bonus?

If you should qualify for any class of bonus, when making a purchase
via a direct wire transfer, the bonus will be applied based on the order
creation date, not the transfer confirmation time (limited to 5 days). So,
if it takes longer than a day for your wire transfer to arrive you will still
retain the bonus which was active on the day you created the order. In
order to prove the transfer initiation date, we can request a copy of your
statement.

Can I invest if I am not from Africa or Europe?

Joining the investors board is open to all countries with some
exceptions. These exceptions lay within the regulations that are present
in some jurisdictions, like China, South Korea, the US. We encourage
our investors to be prudent with their decisions so as to not to create
legal disputes.

Can I buy tokens in fractions? (i.e 1.005 AFCASHs)

Each AFRICUNIA Token (AFCASH) can be split down to 6 decimal
points, with 0.000001 AFCASH being the smallest fraction.

How many tokens are issued during the ICO?

Based on our market research, we have estimated the maximum amount
of investments we would be ready to accept. In order to correlate our
liabilities with possible spendings on R&D and operations, we are keen
to minimizing the "floating balance" which we wouldn't be able to use,
but for which we would be paying dividends. During the ICO a
maximum of 500,000,000 AFCASH is available.

How can I use the AFCASH after the ICO?

After the ICO the token will be listed on cryptocurrency exchanges.
Besides trading, each holder of AFCASH Tokens will be granted with
annual dividend payouts and we have allotted 20% of AFRICUNIA
annual revenue for this purpose.

Why should I verify my identity and payment method?

Identity and residency verification process serves the purpose of
fulfilling the following goals:

• establish customer identity;
• understand the nature of the customer’s activities (primary goal is to
satisfy that the source of the customer’s funds is legitimate);
• assess AML/CTF* risks associated with that customer.

*AML/CFT – Anti Money Laundering and Countering the Financing of
Terrorism.

What will AFRICUNIA do with the information?

AFRICUNIA will use the collected information to verify the legitimacy
of the collected funds in accordance with the AML/CTF* due diligence
when communicating with the regulating and auditing authority in order
to use the collected funds in the project's development.

*AML/CFT – Anti Money Laundering and Countering the Financing of
Terrorism.

What if I do not verify?

While verification is not obligatory, we expect every prudent ICO
participant to understand the importance of his/her role in the project. As
we are building a bank, we are required to provide the information about
the source of funds. We believe that investors that expect AFCASH to
succeed will not consider the verification a burden.

How do I verify? Where can I find the verification form?

Please fill out the verification form in your AFRICUNIA account KYC settings.

How is my data protected?

Our website is scanned on a regular basis for security issues and known
vulnerabilities in order to make your visit to our site as safe as possible.
We use regular Malware Scanning. Your personal information is
contained behind secured networks and is only accessible by a limited
number of persons who have special access rights to such systems, and
are required to keep the information confidential. In addition, all
sensitive information you supply is encrypted via Secure Socket Layer
(SSL) technology.

We implement a variety of security measures for all types of data
transactions to maintain the safety of users' personal information. All
transactions are processed through a gateway provider and are not
processed or stored on our servers.

I don't have a Utility Bill, so what should I do?

A utility bill can be either a water, electricity or rates bill that is less than
3 months old.

In case you don't have a utility bill available, any of the following
documents will be accepted for verification of your residential address:

• a landline or cellphone account statement (less than 3 months old);
• a Gas Bill (less than 3 months old);
• a copy of a signed rental agreement of your current residence
indicating the lease period;
• a mortgage statement (less than 6 months old);
• an official tax return/tax assessment (less than 1 year old).

I've paid with a debit/credit card, what next?

In case you've made a payment using a credit/debit card, you will need
to fill Sections 1, 2, 4 and 5 in User profile’s KYC setting. If you were
using a virtual card, you can provide us with screenshots from respective
services.

I've paid with a bank transfer, what next?

In case you've made a payment using your bank, you will need to fill
Sections 1, 3, 4 and 5 in User profile's KYC setting. Including a bank
statement is a great way to provide a visual payment confirmation.

I've paid with cryptocurrency, what next?

In case you've made a payment using cryptocurrency, you will need to
fill Sections 1, 4 and 5 in User profile’s KYC setting. This way it will be
possible to correlate your current employment position and income rate
with the investment amount to reduce the risk of fraud.

What sections do I need to fill?

Regardless of the payment method, we encourage every user to fill in
Section
1, 4 and 5 in User profile’s KYC setting.

• Section 1 includes general Customer data, such as a photo of ID
and general personal information;

• Section 2 includes debit/credit card ownership information,
including both plastic and virtual cards. Fill this section to confirm
that you are the genuine owner of the card used for buying
AFCASH;

• Section 3 includes bank information, also providing a possibility
to load a bank statement. Fill this section to confirm the fact of
purchase from your personal bank account;

• Section 4 includes funds information, including a potential origin
of money used in the ICO. Fill this section to show that your
investment corresponds to your lifestyle;

• Section 5 includes the net worth of a person to correlate between
the investment and the buying potential of the person. Fill this
section if you are not new to trading assets and you have a
portfolio that gives you net worth.

How is AFCASH Tokens divided?

• The public contributors will be allocated 50% of the AFCASHs.

• The company reserve will be assigned 30% of the AFCASHs. The reserve
will form part of the company’s source income after the distribution period and
will be allocated on a partial basis among the direct contributors and the core
team of the business where necessary.

• The remaining 20% of the AFCASHs will be allocated to the Founding
Africunia Members and its advisors, partners, and campaigners as follows:
15% (Africunia Founders); 3% (Advisors & Partners); 2% (Campaigners).
These funds would not be immediately tradable in order to continue
motivating the core team after the distribution period.

Do you share part of your revenue to contributors/Investors?

Yes, at the end each Financial Year, 20% of AFRICUNIA BANK’s
Profit will be distributed among all Holders of our Token (AFCASH)
based on each Holder’s Share of total amount of Tokens issued,
and this will be automatically paid out to our Coin Users in their
respective Wallets. In other words, you are entitled to AFRICUNIA
BANK’s revenue. Consider this as a PASSIVE INCOME.

What happens to Unsold Tokens?

All unsold tokens will be revoked and burnt.