Who is Kuda FX?

We have so enjoyed sharing our knowledge with you on The History of Foreign Exchange, going through the basics of Forex in our article Forex 101 and most recently discussing how World Events and Currency are intrinsically linked.

So much so that we completely skipped over the part of formally introducing ourselves.

And that’s not very polite of us.

So, in an effort to right the wrongs of poor introductions and perhaps unimpressionable first impressions, we thought we would chat a little bit about who we are.

Because, if we do say so ourselves, we have built up quite a business. Something of which we are immensely proud!

Nice to meet you!

Kuda Holdings with both its foreign exchange (Kuda FX) and Insurance business started its journey in 2013 in Pretoria, South Africa.

With over a decade of dealing with insurance matters and foreign exchange transfers, Kuda has made a significant footprint and impact as a leading luxury lifestyle insurer as well as a trusted, specialised foreign exchange management team. 

It’s through these two very specialised, niche fields that Kuda has undoubtedly found its sweet spot. To the degree that we have found ourselves expanding – both our footprint as well as our service offerings – with offices in Pretoria, Cape Town and now Devonbosch, Stellenbosch.

We are perfectly positioned to service our client’s, no matter where they are based – locally (we have you well and truly covered) or globally. Our reach extends to wherever our clients need us.

As always, Kuda has you covered.

What does Kuda FX (specifically) do?

Kuda FX is a South African financial services company registered with the Financial Sector Conduct Authority (FSCA) and authorised by the South African Reserve Bank to transact in the capacity as a foreign exchange intermediary. We also subscribe to the South African Association of Treasury Advisors’ (SAATA) FX Global Code.

We believe that being highly regulated sets us apart from our competitors. We take the law, regulations applicable to us as well as our clients’ money extremely seriously. So, when we say you can trust us – rest assured that we stand by that statement.

In a nutshell – Kuda FX manages all your international money transfers. Whether offshore or onshore (back in South Africa).

More specifically, this entails facilitating international money transfers for both private and commercial clients by offering a specialised service of both offshore and onshore FX transfers using our client’s single discretionary and foreign investment allowances. We also manage the exchange control processing for non-resident clients.

Furthermore, Kuda FX offers a foreign exchange service including hedging instruments for our commercial clients, ensuring low fee structures with excellent exchange rates.

And it doesn’t end there – with Investec as Kuda FX’s authorised dealer, we are perfectly positioned to ensure seamless cross-border transactions. This includes converting your South African Rand offshore allowance into Dollar, Sterling, Euro and other currencies for transfer abroad.

But we don’t just leave it at that. We believe in ensuring that your forex transaction will be dealt with in its entirety – from the first initial transaction to the very end. And to ensure this kind of full-service that offers exceptional service we also –

  • open our client’s cash management account at Investec or Bidvest Bank;
  • facilitate South African clients SARS Tax Clearance process or South African Reserve Bank (SARB) application for non-resident clients (if needed);
  • undertake FICA compliance checks;
  • issue trade confirmations;
  • issue a proof of payment once funds have been remitted offshore, and
  • undertake Balance of Payment (BOP) reporting to SARB.

Now that’s impressive – we think!

But our focus is not just offering best-in-class service. It’s also sincerely client driven.

We take our approach to customer service extremely seriously. Our team of specialists are completely dedicated to managing your foreign exchange requirements – no matter the amount or complexity. To understand our success rate, we have recorded 97.2% of same day trades, meaning that your trading window is more predictable.

We are a company who lives by our values – which truly form the basis of what we do and how we try and conduct ourselves towards our clients (as well as towards each other). Our team continuously goes the extra mile to solve problems for our client’s, however we can. Or better still – we go above and beyond to make our client’s foreign exchange transaction dreams a reality. Whilst still ensuring that we support, take care of and encourage one another.

A truly holistic company that believes the relationships between each other serve to positively affect the relationships with our clients. Something we do with a lot of pride and a fair amount of gusto!

We hope you will get in touch with a FX professional, like our team at Kuda FX who would be happy to explain the above concepts in further detail or provide any other assistance you may require with your specific FX needs.

In fact, if you have any queries on the information we have set out above, please feel free to get in touch with us.

We look forward to helping you with all your forex needs!

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