African banking options for a foreign company (no travel) in 2023
Since 2003, Healy Consultants Group PLC opens corporate bank accounts in every country on the planet, without travel.
| African banking options for a foreign company (no travel) | Mozambique | South Africa | Kenya | Zimbabwe | Morocco | Ghana | Mauritius |
|---|---|---|---|---|---|---|---|
| Our recommendation in order of preference | 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| Summary at a Glance | |||||||
| Does our Client needs to visit the Bank | No | No | No | No | No | No | No |
| Bank account for a foreign company? | Yes | Yes | Yes1 | Yes | Yes | Yes2 | Yes |
| Funds repatriation limits (currency controls) | None | Some | None | Many | None | None | None |
| Initial deposit for a local currency corporate bank account | No | Yes | No | No | No | No | MUR 25,000 |
| Initial deposit US$ corporate bank account | None | None | None | US$500 | None | None | US$10,000 |
| Initial deposit € corporate bank account | None | None | US$10003 | None | None | US$1003 | €10,000 |
| Initial deposit for £ corporate bank account | None | None | US$10004 | None | None | US$1004 | None |
| How long to receive bank account number | 2 weeks | 4 weeks | 4 weeks | 3 weeks | 4 weeks | 4 weeks | 3 weeks |
| Dedicate relationship manager | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Our rating of the bank’s customer service | Excellent | Good | Good | Very Good | Good | Good | Good |
| Internet banking available | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Us$ corporate cheque book | Yes | No | Yes | No | Yes | Yes | No |
| Corporate ATM card | Yes | No | Yes | No | Yes | Yes | Yes |
| Us$ Corporate Debit card (visa) | Yes | Yes | Yes | No | No | Yes | Yes |
| Local currency corporate debit card (visa) | Yes | Yes | Yes | No | No | Yes | Yes |
| Funds transfers transaction fees US$ | 33 | 30 | 16 | 30 | 42 | 35 | 10 |
| Internet banking | |||||||
| How long to receive password and login | 1 week | 2 weeks | 2 weeks | 1 week | 2 weeks | 2 weeks | 2 weeks |
| Daily online transaction limit | None | None | None | US$10,0005 | None | None | No |
| Can USD transactions be viewed | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Online local currency payments to third parties | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| On line USD payments to third parties allowed | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Our rating of local currency internet banking | Very Good | Good | Good | Very Good | Good | Good | Yes |
| Our rating of the USD internet banking facility | Very Good | Good | Good | Very Good | Good | Good | Good |
| Bank logistics | |||||||
| Your dedicated bank officer will be | Angela Andela | Miss Samukelisiwe Ntinga | Carol Lamba Arina | Magumise Tapiwa | Amine Benmassaoud | Francis - Samuel Godwyll | Oliver Muller |
| Email instructions to banker allowed6 | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Fax instructions to banker allowed | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Telephone instructions to banker allowed | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
Notes
- The foreign company must register with the Kenyan registrar of companies and obtain a certificate of compliance;
- The foreign company must register with the Ghanaian registrar of companies and appoint a local agent to act as a representative of the foreign company;
- Equivalent in €;
- Equivalent in £;
- The Client is however to observe the international anti money laundering regulations;
- The Client is to indicate on the application form, the mode of communication they will use when engaging the bank.
