‘’Be Mobile Africa’’ has created a multi-currency business banking platform for its customers in 30 African countries. Customers can use the site to apply for and open business accounts in USD and EUR within 48 hours without having to go to a bank branch.
With the help of the neobank’s new service, businesses will have an easier way to manage their funds and expand into new areas. In addition to the ZAR, USD, and EUR, businesses will be able to hold, send, and receive money in a number of emerging African market currencies.
According to a press release from Be Mobile Africa, business customers can also take advantage of flexible real-time transactions in various currencies through preferred payment gateways like local EFT in South Africa, SWIFT, and SEPA. They will also be able to earn 5% interest annually in USD or EUR as part of the savings offered.
Be Mobile Africa’s CEO, Dr. Cédric Jeannot, said in a statement about the product introduction that the company is dedicated to assisting African businesses in expanding and competing in the international market.
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“The biggest benefit we see here is the ability for businesses to access EUR and USD accounts. Offering our customers the opportunity to transact in these currencies removes one of the biggest barriers to doing business on the continent,” he included.
Previous Details on Be Mobile Africa Launch in South Africa
The Canadian-based neobank began operations in South Africa this month after its announcement last month intending to bring banking to the nation’s unbanked and underbanked.
While launching last month, the CEO & co-founder of Be Mobile Africa, Dr. Cédric Jeannot, said, “We are incredibly excited to be launching our services in South Africa. This is an important market for us, and we believe great growth potential exists.”
It provides various advantages to South Africans, including the ability to send, receive, retain, and save money in euros and US dollars, as well as no monthly account fees and minimum balance requirement.
Customers may hold, send, and receive money in several currencies by opening a Be Mobile Africa account, the firm said in a statement. They can also send money abroad quickly and earn 5% interest annually in USD and EUR with Be Mobile Africa’s savings option.
The goal of Be Mobile Africa is to increase South Africans’ access to banking.
Be Moblie Africa’s Launches in Kenya
Be Mobile entered the Kenyan market towards the end of last year. The new app targets young people in Kenya and Africa through collaboration with the international mobile virtual network Enabler (MVNE) x-Mobility.
The app seeks to give African youth the chance to leave behind established MNOs (Mobile Network Operators) and give them the freedom to express themselves using cutting-edge technological capabilities. When calling foreign markets like the United States, BeMobile’s calling rates can be up to five times less expensive than those of the local carriers.
Africans should be able to communicate with the rest of the world on various foreign lines utilizing customized profiles, thanks to BeMobile’s ground-breaking network, without needing an additional sim card.
For people who value privacy and autonomy over their mobile communications, the BeMobile App also provides foreign numbers from the UK, USA, and Canada on your current phone. The app will also provide reduced international call rates, many new number profiles, including international numbers dating site chats and calls, and free calls to friends and family at home or abroad if they call within the app.
Kevin Mulei, CEO of BeMobile, commented on the app’s debut in Kenya, “BeMobile will break the stereotypes of mobile and create an iconic youth brand across Africa. The youth is the market to win. BeMobile believes in the African Youth Culture, so we are launching BeMobile. We will do this partly thanks to the bold and inspiring spirit x-Mobility brings to the telecoms market. They also have years of experience and great digital know-how.”
Its operations in Kenya have been successful, and the added USD and EUR accounts apply to Be Moblie Kenya also.