Be Mobile Africa has launched a new multi-currency business banking platform for African businesses. Customers can apply for and open USD and EUR business accounts within 48 hours without visiting a bank branch in person.
The new service from the neobank will make it easy for businesses to manage their finances and grow into new markets. Companies can hold, send, and receive money in ZAR, USD, EUR, and a few other currencies from emerging markets in Africa.
In a press release, Be Mobile Africa said that business customers will also be able to earn 5% interest per year in USD or EUR as part of the savings offered. They will also be able to make flexible real-time transactions in different currencies through preferred payment gateways like local EFT in South Africa, SWIFT, and SEPA. Be Mobile Africa’s CEO, Dr. Cédric Jeannot, said at the launch of the new product that the company is committed to helping African businesses grow and compete in the global market.
The most significant benefit is that businesses can use both EUR and USD accounts. Giving our customers the option to pay in these currencies removes one of the biggest obstacles to doing business on the continent,” he said.
The Canadian neobank opened in South Africa last month with the promise to help people who don’t have bank accounts or don’t have enough of them.