Afrasia Bank

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How to open bank account in Africa Asia bankAbout Afrasia Bank Limited

Strategically based in Mauritius and with representation in key markets, AfrAsia Bank Limited serves the Africa-Asia trade corridor, combining its strengths and expertise in four core divisions:

  • Private Banking and Wealth Management
  • Corporate and Investment Banking
  • Global Business
  • Treasury

Since inception, the Bank has expanded through a combination of substantial organic growth and a series of strategic acquisitions. Our core activities are in Mauritius, South Africa, and United Kingdom, with marketing capabilities in Singapore, France and Switzerland.

In addition to our anchor Mauritian shareholder, GML, the largest conglomerate in the country, other strong strategic partners include National Bank of Canada (NBC), Intrasia Capital (Singapore) and PROPARCO (subsidiary of the Agence Française de Développement and other major financial institutions).

AfrAsia Bank Limited’s core banking and transactional capabilities are in Mauritius along with bank representative offices in Cape Town, Johannesburg and London, its asset management arm, AfrAsia Capital Management Limited, as well as its corporate and structured finance arm, AfrAsia Corporate Finance (Pty) Ltd.

With its niche focus as well as the unique role of Mauritius as a financial centre, the Bank is continuously leveraging its African footprint and positioning itself as a regional banking force with global reach, streamlining its emerging markets strategy to bridge the Africa-Asia trade and investment corridor and beyond.

Locations:

  • Port Louis, Mauritius
  • Ebene, Mauritius
  • Johannesburg, South Africa
  • Cape Town, South Africa
  • London, United Kingdom

Correspondent banks:

  • Deutsche Bank AG, Frankfurt
  • Citibank, New York
  • Standard Chartered Bank, New York, London, Hong Kong, Mumbai, Singapore
  • Sumitomo Bank, Tokyo
  • First Rand Bank, Johannesburg
  • ICICI Bank, Mumbai
  • Yes Bank, Mumbai

Novasigma’s rating:

  • For locally operating companies: 3/5
  • For global operating companies: 5/5
  • For savings / long term deposits: 2/5
Corporate accounts for a local company Yes
Corporate accounts for an offshore company Yes
Online banking available Yes
Pin calculator available Yes
Debit cards available Yes
Credit cards available Yes
Personal visit required at branch for bank account activation No
Full remote bank account opening with Novasigma Yes
Currencies All major currencies
Term deposit available Yes
Safety deposit boxes available No
Cash deposit services available Yes
Leasing services available Yes
Online trading services available (currencies, stocks, bonds) Yes
Time frame for a local company 5 days
Time frame for an offshore company 2-3 weeks
Minimum opening deposit Rs10,000
SWIFT / BIC Code AFBLMUMU

Bank account opening fee with Novasigma:

For local (Mauritius) entities3.900€
For foreign/offshore entities4.900€

Novasigma offers a bank account opening assistance only for companies incorporated with Novasigma.

Novasigma provides international accounting services, company formation services, legal, business and tax advisory services | Terms of Use & Terms of Business | © 2016 NOVASIGMA Global - Accounting & Law Cooperative ("NOVASIGMA LIMITED"). Member firms of the NOVASIGMA Global - Accounting & Law network of independent firms are affiliated with NOVASIGMA Global - Accounting & Law. NOVASIGMA Global - Accounting & Law provides no client services. No member firm has any authority to obligate or bind NOVASIGMA Global - Accounting & Law or any other member firm vis-à-vis third parties, nor does NOVASIGMA Global - Accounting & Law have any such authority to obligate or bind any member firm. Independent registered advisers, lawyers and accountants are not owned by, affiliated with or supervised by Novasigma or its affiliates. Novasigma provides custody, trading and operational support services for advisers, lawyers and accountants. Not all products and services available through Novasigma and its affiliates are available through advisers, lawyers or accountants. Registration does not imply a certain level of skill or training. Depending on jurisdiction there might be eligibility requirements to work with a dedicated Financial Consultant, Lawyer or Accountant. Wealth management, accounting, audit and legal services refers to products and services available through the operating subsidiaries of the Novasigma Corporation of which there are important differences including, nut not limited to, the type of advice and assistance provided, fees charged, and the rights and obligations of the parties. It is important to understand the differences when determining which product and/or services to select. Novasigma provides a full range of business, financial, banking and tax advisory, accounting and legal services through its operating subsidiaries.

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