#Payments #FinancialInclusion / Pan-African challenger Union54 to launch in 2021

The start-up, which was founded in January 2020, is the product of Zazu – a Zambian mobile wallet. Both Union54 and Zazu were founded by Perseus Mlambo… Union54 aims to standardise payments in Africa and simplify how capital is deployed across the continent.

[Mlambo:] “A positive side-effect of Union54 will be the reduction of foreign currency hegemony in Africa,”… He refers to the prevalence of dominant currencies – most notably the US dollar – in firms’ pricing decisions…

“In the last three years, we have seen an influx of foreign capital intent on capturing the market… These investments are and will be pumped into Africa, with one intention: bulldozing their way into market share, at the expense of the founders who have toiled and laboured to develop the ecosystems.”