Zambia corporate banking options

Banking in Zambia

Zambia banking solutions from Standard Chartered bank

  • The Zambian banking industry is relatively small and is generally dominated by subsidiaries of foreign banks. Out of the 20 commercial banking facilities in Zambia, 19 are foreign owned and are also the oldest and most dominant;
  • Some of the main global banks recommended by Healy Consultants Group in Zambia include i) Barclays bank ii) Citibank Zambia and iii) Standard Chartered bank. Other recommended banks include i) Ecobank ii) Bank ABC iii) Stanbic bank among others.
  • Banks in Zambia offer a variety of tailored corporate services such as i) current and savings accounts ii) excellent internet banking services iii) mobile banking facilities iv) corporate credit and debit cards and iv) cheque book;
  • Local companies and entrepreneurs can hold bank accounts in local and foreign currency. Additionally, funds can be easily transferred out of the country without any restrictions;
  • Zambian financial sector also boasts a capitals market, the Lusaka Stock Exchange, and other non-bank facilities including micro-finance institutions, leasing companies, development banks, savings and credit institutions and bureau de change;
  • Although there are not exchange controls in Zambia, commercial banks and local bureau de change operators restrict cash transactions exceeding US$5,000

Healy Consultants banking services

Barclays in Zambia

  • Healy Consultants Group banking team assists Clients open a multicurrency corporate bank account in Zambia to support their Zambian company incorporation;
  • The account opening process in Zambia is time consuming, marred with numerous processes, and may take up to 3 to 4 weeks to complete;
  • Healy Consultants Group corporate fee for account opening service is US$4,950 as part of the company incorporation package and US$5,950 as a standalone service;
  • Unfortunately, the major banks in Zambia require that a Client has to visit the bank to complete the account opening process. Healy Consultants Group banking team does everything necessary to reduce the probability of our Client having to travel to Zambia for this engagement;

Contact us

For additional information on our company formation services in Zambia, please contact our in-house country expert, Mr. Kunal Fabiani, directly:
client relationship officer - Kunal