VoucherFlow Programmable Liquidity Layer
| Platform Entity | Vora Group |
| Platform | Vora Group — VoucherFlow Programmable Liquidity Layer |
| Regional Investor | To be assigned |
| Investor Country | — |
| Entity Type | — |
| Compliance Arrangement | — |
| Document Reference | VGF-LFY2WB2Y |
| Effective Date | 26 October 2026 |
Vora Group is a technology platform and SaaS infrastructure provider operating across Sub-Saharan Africa. Vora Group is not a bank, financial institution, or licensed financial advisor. Shopify Inc. is the Merchant of Record for all platform billing. The Vora Group ecosystem comprises five products:
| Product | Description | Audience |
|---|---|---|
| VoraPay | Spending power access and vehicle protection infrastructure | Individual consumers |
| OjaFlow | Merchant settlement ledger and working capital facilitation | Merchants & traders |
| TrustVault | Community contribution management and yield tracking | Institutional investors |
| VoucherFlow | Programmable value transfer infrastructure — category-locked vouchers | Organisations, NGOs, governments |
| VoraCommunity | Faith community contribution pooling and project connection platform | Churches, stokvel circles, faith groups |
The platform operates across five markets (Nigeria, South Africa, Ghana, Kenya, Ethiopia) on a single verified identity layer and immutable evidence ledger. Multi-currency settlement is supported across NGN, ZAR, GHS, KES, and ETB. Regulatory-compliant spending controls are enforced cryptographically.
3.1 Dr. Armstrong Ogwuche (Vora Group) is the sole Architect, Founder, and technology owner of the VoucherFlow platform.
3.2 All intellectual property, source code, algorithms, and cryptographic protocols remain the exclusive property of Vora Group.
3.3 Regional Investors receive a revenue participation right only — not equity, not ownership, not licensing rights.
3.4 Technology investment, infrastructure costs, and platform maintenance are borne exclusively by the Platform Owner.
4.1 The Regional Investor is responsible for obtaining all regulatory approvals, licenses, and compliance documentation required to operate the platform in their designated region.
4.2 Required regulatory items by country:
| Country | Central Bank | License Type | Registrar | Status |
|---|---|---|---|---|
| Nigeria | Central Bank of Nigeria (CBN) | Payment Service Solution Provider (PSSP) | CAC | Live Production Rail — Routing Engaged |
| South Africa | South African Reserve Bank (SARB) | Payment Service Provider (PSP) — SARB Fintech License | CIPC | Live Production Rail — Routing Engaged |
| Ghana | Bank of Ghana (BoG) | Payment Service Provider — BoG Tier 3 | RGD | Live Production Rail — Routing Engaged |
| Kenya | Central Bank of Kenya (CBK) | Payment Service Provider — CBK Approval | BRS | Live Production Rail — Routing Engaged |
| Ethiopia | National Bank of Ethiopia (NBE) | Payment Instrument Issuer — NBE Directive | MoT | Live Production Rail — Routing Engaged |
4.3 Failure to maintain valid regulatory status results in immediate suspension of revenue participation for that region.
4.4 The Platform Owner reserves the right to arrange compliance independently for any region. In such cases, the Platform Owner retains 100% of revenue that would otherwise accrue to a Regional Investor for that region.
5.1 Revenue Streams
| Stream | Description |
|---|---|
| Transaction Fee | Percentage of each voucher spend charged to the accepting merchant |
| SaaS Subscription | Monthly subscription fee paid by enterprise tenants via Shopify (Merchant of Record) |
| Float Interest | Interest earned on unspent voucher balances in TrustVault Liquidity Vault |
| Compliance Arrangement Fee | One-time fee when Platform Owner arranges regulatory license |
| Merchant Onboarding Fee | One-time per merchant onboarded to OjaFlow terminal network |
5.2 Distribution Rules (live from platform database — version-controlled and audit-logged)
No revenue rules configured. Rules are set by the Platform Owner and will appear here automatically once provisioned.
5.3 Floor & Ceiling Mechanism: Where a Monthly Floor is configured, the Platform Owner guarantees the Regional Investor earns at least the floor amount. Where a Monthly Ceiling is configured, the investor's earnings are capped to protect the platform in high-volume scenarios.
5.4 Revenue events are recorded in real-time. Settlement to Regional Investors occurs monthly. All events are immutably logged and cannot be modified retroactively.
5.5 Platform Owner Priority: In all scenarios, the Platform Owner's share is processed first. Investor shares are paid from remaining revenue after platform costs are deducted.
6.1 Merchants are onboarded to the OjaFlow terminal network and identified by CIPC, CAC, RGD, BRS, or MoT registration number as applicable per country.
6.2 Merchant subscription fees are collected via Shopify (Merchant of Record) in USD/EUR/GBP and settled in local currency using live FX rates.
6.3 Shopify fees and currency conversion costs are deducted before revenue distribution.
6.4 Merchants do not participate in platform revenue unless explicitly configured in the Revenue Rule for that stream.
7.1 Revenue split percentages may be modified by the Platform Owner at any time with 30 days' notice to the Regional Investor.
7.2 All modifications are permanently audit-logged on the platform ledger and cannot be deleted or altered retroactively.
7.3 Regional Investors may not modify any terms without written consent of the Platform Owner.
7.4 This document is regenerated dynamically from live platform data. The version in force at any time is the version accessible via the platform portal.
8.1 The Platform Owner is not liable for regulatory failures attributable to the Regional Investor's failure to maintain required licenses.
8.2 The Platform Owner may suspend, terminate, or reassign any regional partnership without prior notice in cases of regulatory non-compliance, fraud, or reputational risk.
8.3 Investor revenue participation rights are non-transferable without written consent of the Platform Owner.
Authorized Platform Representative
For: Vora Group
Date: ______________________
Regional Investor
Name / Entity
Date: ______________________
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