FAQ

What is AFRICUNIA?

AFRICUNIA is registered in the United Kingdom as AFRICUNIA LIMITED, providing
Global Banking 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. Go to our website: www.africunia.org for
comprehensive profiles of the individuals behind AFRICUNIA Bank project.

When will the Bank project actually kick-off?

Our Bank project is estimated to take off sometime around March/April 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 12:00 PM UTC and will last for 4 weeks,
ending on November 31st 12:00 PM UTC.

What is the start date and time of the ICO?

The ICO launches on January 1st 12:00 PM UTC and will last for 2 months, ending
on February 28th 12:00 PM UTC.

Where can I learn more about the AFRICUNIA Bank Project?

The best way to learn about the project would be to read our Whitepaper, Business
Prospectus, the information on our website or ask us directly on:
support@africunia.org
info@africunia.org
https://www.facebook.com/africunia
https://www.twitter.com/africunia
https://www.linkedin.com/company/africunia-bank
https://t.me/africunia
https://africuniabank.slack.com
https://medium.com/@africunia
https://www.instagram.com/africunia
https://plus.google.com/+AfricuniaBank
https://youtu.be/SOfxwaB5b2U

What is the expected value of AFCASH?

The initial price of 1 AFCASH is fixed at 1.00 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.org 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 10 AFCASHs)
• BITCOIN, ETHEREUM, RIPPLE, LITECOIN, DASH, NEM, IOTA, NEO,
MONERO, ETHEREUM CLASSIC, BITCONNECT, ZCASH, POLYBIUS,
NIMIQ, EMERCOIN and over 25 other Tokens/Coins, via direct/AFRICUNIA
in-house Exchange (Minimum purchase amount 1 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 1 AFCASH)
• Debit/Credit card payment (Visa/Mastercard) (Minimum purchase amount 10
AFCASHs).

What is the minimum investment?

During the Pre-ICO and ICO 1 AFCASH = 1.00 USD. The minimum purchase
amount for all types of payments, except for USD, EUR, POUNDS, NAIRA bank
wire transfers and Debit/Credit card payments (Visa/Mastercard) is 1 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?

The earlier you invest, the higher bonus you will receive on your investment. Here
is how we have structured the discount percentage for the early birds (1st
November 2017 to 28th February 2018):
• Week 1 to 2: 30% off regular price.
• Week 2 to 4: 25% off regular price.
• Week 4 to 6: 20% off regular price.
• Week 6 to 8: 15% off regular price.
• Week 8 to 10: 10% off regular price.
• Week 10 to 12: 5% off regular price.
• Week 12 to 14: 3% off regular price.
• Week 14 to 16: 1% off regular price.
The bonus will be immediately added to the number of tokens you receive as a
result of your investment. The total investment will be visible on your balance.
We won't be providing any bulk discounts. We have decided to stick with weekly
bonuses for early investors.

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.org
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 7 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. A copy of this agreement,
known as the terms can always be requested from us.
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, ETHEREUM CLASSIC, USDT, DASH, ZCASH,
MONERO, PLBT, NIMIQ, NEO, and over 25 other coins investments can be made
directly, while all other cryptocurrencies are accepted via Shapeshift.io or other
platforms 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 USDT 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.

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 can take a look at our Business
Prospectus 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://medium.com/@africunia/africunia-bank-bounty-campaigns-8e5f2aa81050

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 info@africunia.org 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.io
Dashboard, MyEtherWallet, Mist, etc.

Where can I find the Smart Contract code?

The AFCASH token Smart Contract link will be provided in this space shortly before
Pre-ICO.

My bank takes a few days to complete a wire transfer. Will I still get the 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 7 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 1,000,000,000 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 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 in the
provided Sections in your account on our website. 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 corresponding
Sections in your account on website. 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 relevant
Sections in your account on our website. 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 the
verification Sections which
• -includes general Customer data, such as a photo of ID and general personal
information;
• -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 AFRICUNIA;
• -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;
• -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;
• -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?

We are still deliberating with our Legal and Financial Advisors on the best possible
option with regards to unsold tokens and will update this column as soon as final
resolution is reached.