How Onafriq partners with Kooltra to Power the Largest Payment Network in Africa

About Onafriq 

Onafriq is Africa's leading omnichannel payments platform providing a single pathway to unlock the full power of cross-border and cross-platform payment solutions. With a network spanning 40 African markets, Onafriq connects over 500 million mobile money wallets, 200 million bank accounts, and 300,000 agents in Nigeria, enabling domestic and cross-border disbursements and collections, card issuing and processing, agency banking, and treasury services.


Onafriq is a well-funded, high-growth fintech with ambitious expansion goals. They were looking for a robust institutional-grade platform solution that could support the volume of their FX and treasury business while being agile enough to customize to their unique needs. They made the decision to buy rather than build for both cost containment and expedited time to value. 

“We are committed to building a best-in-class treasury function to support our growth and mission, and the systems we choose play a large role in our ability to deliver that. Through Kooltra, we are leveraging a platform crafted by domain experts who understand our unique needs so we can focus on what we do best. It is powered by technology that understands the complexity of our operations and enhances our treasury capabilities.” 


The Kooltra platform is an end-to-end solution that provides Onafriq with the infrastructure to scale and the agility to support their unique business needs. They leverage our Core module for FX and cash management, our Portal for client self-service trading and payments, and our external APIs to manage float balances that facilitate client payments in and out of Africa, whilst monitoring and hedging the FX exposures resulting from these payments.

Kooltra allows Onafriq to consolidate their trading, operations, cash management, team, and customers into a single digital platform. 

“Many of the solutions we evaluated were legacy solutions that weren’t as modern or flexible as we’d require. We chose Kooltra because the platform is flexible and it’s built and supported by true domain experts. Our business has a number of unique nuances, and we were impressed with the vast customization and integration capabilities available.” 


By implementing Kooltra, Onafriq was able to - 

  • Streamline and automate their FX and treasury processes, providing the infrastructure they require for scalable and sustainable growth
  • Provide greater connectivity internally and externally to manage their exposure and further their mission to make borders matter less
  • Give OTC FX customers a digital experience that they love
  • Improve their ability to respond to market changes and opportunities quickly, with an agile platform they can continue to customize as their business needs evolve
  • Get up and running quickly,  within one month of the project kick-off
“The Kooltra team really stood out because they took the time to deeply understand our liquidity and float management needs, which are quite complex. We’ve been able to leverage their APIs quite extensively and powerfully to create the connectivity we need to properly manage our business. The customer experience has been outstanding.”
Daniel Cousins
Director, FX Services and Float Management
Johannesburg, Gauteng