AFRO was created in December 2016 by a group of economists, cryptocurrency experts, humanists and thinkers, who are standing at the origin of AFRO Foundation and continue developing the project.
AFRO is a non-political and neutral tool, created for and available to all the countries of the continent, and worldwide to anyone willing to use this cryptocurrency.
AFRO was designed in order to address multiple problems of the continent. Approximately 83% of Africans do not have bank account, therefore they are excluded from the banking system. Access to loans is weak and the continent is lacking banking infrastructure. Moreover, considering Africa has more than 40 different currencies per 54 countries, it makes currency exchange quite complicated and difficult.
With more than a billion SIM cards in circulation and more than 650 million of African subscribers to a mobile operator, Africa now is ready to benefit from services provided through smart phones. Payment through mobile and use of cryptocurrencies is a real breakthrough and historical opportunity.
The entire currency amount that was issued on June 19th, 2018 is 750 billion AFRO. It is symbolical that it makes 600 AFRO per each citizen of the continent and it is in correlation with GDP of the continent.
There has been no and will be no ICO for AFRO.
In August 2018, decision was taken to list AFRO at the price considered low in order to protect the interests of investors and for long term benefits of AFRO.
No states, no commercial banks, no interference
AFRO has been designed to reflect African economic annual growth and to avoid hyper inflation or governmental manipulation issues. A safe currency with a stable currency rate defended by the Foundation’s reserve.
AFRO is a non-political and neutral tool at the service of Africa.
AFRO Foundation (NGO)