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Union54 is a member led association of African fintechs pulling together to dismantle borders and make money borderless.
Union54 has developed a retail banking platform and issues multicurrency debit cards to customers. Cards are issued in countries by Union54 Founding Members. Founding Members are licenced to operate the brand and supported with technical and capital investment from Union54. Founding Members collectively own Union54, with the goal of operating a truly Pan African challenger bank.
We estimate that there are over 4,000 financial service institutions operating in Africa. The market is extremely fragmented and founders are duplicating efforts, albeit in different markets. Union54 is building the financial infrastructure required to realise Africa's potential, and it is doing so with operators in each market. Partnering or becoming Union54 is a long term investment.
Union54 is desirous of quality Founding Members who can inform the roadmap and strategic areas of focus. At a minimum, Founding Members are expected to have regulatory approvals in their markets, to issue cards, operate an Electronic Money Issuance business, or acquire electronic payments. Founding Members are also expected to cover collateral, calculated against expected volumes.
No. Union54 does not expect partners to stop working on their already established brands or products. You will operate Union54 alongside your existing brand, giving you an extra source of revenue and product differentiator.
Superficial borders have held us back for a long time. Africa needs a financial infrastructure it owns, a financial infrastructure which is future looking.
Africa is the target market. 54 launches and an IPO is the motto.
Become a Founding Member and help develop Africa's financial infrastructure.