Despite the surge in financial services in Africa, which is disrupting the banking industry and changing the way people manage their money, yet, about 1.7 billion adults globally are still unbanked.
With a mission to lift 100 million people out of poverty through financial inclusion, Canada-based Neobank, Be Mobile Africa has launched in South Africa to target the unbanked and Underbanked in the country by offering ‘low to no-fee banking products through its app.
The company aims to accelerate financial inclusion throughout Africa by delivering innovative digital banking solutions to serve its users.
By opening a Be Mobile Africa account, customers can hold, send and receive funds in multiple currencies including USD and EUR, send money abroad in seconds, and earn 5% interest per annum in USD and EUR with Be Mobile Africa’s savings offering.
Also, customers can transfer and request money instantly and at no cost from anyone in the Be Mobile Africa network and exchange currencies with low FX fees.
With no monthly account fees, minimum balance requirements, or dormant account fees, the company offers an attractive alternative for those overlooked by traditional banks.
“We are incredibly excited to be launching our services in South Africa. This is an important market for us and we believe there is great potential for growth,” says CEO & co-founder Dr. Cédric Jeannot.
He added that one of the primary goals of Be Mobile Africa is to provide access to financial services for everyone in Africa.
Be Mobile Africa’s mobile app is currently available for both Android and iOS devices, and it offers a variety of features that make managing finances easier than ever before.
In addition to its mobile app, the company is planning to launch its business offering soon.
Be Mobile Africa is currently available in 30 African countries and plans to expand into additional markets in the future.