Turn every foreign-currency payroll into extra Rands — before you've done anything else.
Your clients pay you in USD, GBP, or EUR. Your payroll, compliance, and costs sit in Rand. When the Rand moves, your margins move with it. We fix that and structure it so it works in your favour.
See your year‑one FX gain
Based on your numbers…
12‑month profit build‑up
Monthly schedule
Refine your modeltweak spot rate & employee discount
Want a board‑ready version with your exact book?
We'll tailor the model to your live contracts and walk you through booking the first FECs.
Two guarantees. That's the whole pitch.
Get these two things right and the rest of the EOR economics take care of themselves.
You make more money
Forward points go to whoever is holding the forward contract. That used to be your bank. Now it's you.
- Capture the SA–offshore interest rate differential as monthly FX profit.
- Retain a small pricing spread between market rate and the rate paid to staff.
- Post‑cost FX gain — typically 2–4% of total ZAR payroll per year, compounding.
- No balance‑sheet impact — you're using our Investec facility, not yours.
You eliminate FX risk
Your offshore client gets a fixed hard‑currency invoice. Your SA staff get a fixed ZAR paycheque. You sit in the middle, hedged.
- No more month‑on‑month salary roulette when the Rand swings.
- Predictable margins make pricing new EOR contracts straightforward — quote once, stick to it.
- Risk management policy drafted with you, signed off by your board.
- Weekly strategy sessions — real humans on the phone, not a call tree.
What Our Clients Say
Verbatim, from letters on file. Dated March 2026.
The FX gain is just the headline number.
With a Kuda intermediary account, you're not just earning forward points — you're plugging into the full Investec treasury stack.
No-cost FX account
No setup fee, no monthly fees, no minimum balance. Your account sits under our intermediary profile. And 5.25% net interest accrues on any idle ZAR.
Zero fees on inbound foreign currency
Your offshore clients pay the full invoice amount. No receiving fees, no wire charges, no surprise line-items eating into your margin.
Online banking portal
The dashboard built for you. Live balances, full transaction history, and audit-ready statements on demand — everything your finance team needs in one place.
Dedicated dealing desk
A named dealer on phone and WhatsApp. Pre-market brief before big events. No automated menus, no ticket numbers — just a real person who knows your book.
SARB compliance handled
BOP coding, CMA reporting, exchange control — our desk does the paperwork.
Monthly treasury pack
Open hedges, exposure vs forecast, revaluation, cashflow schedule — audit-ready.
FX policy drafted with you
Board-ready risk policy. Signed off once, reviewed annually — no DIY.
FSP 46310 regulated
SAATA FX Global Code signatory. Authorised dealers: Investec, Bidvest & Capitec.
How It Works
Map Your Exposure
We review your payroll schedule, currencies, and timing to understand your exact FX position.
Account Setup
FICA, onboarding, and your FX account — handled by us. No bank facility required on your side.
Build What Fits
We structure forward contracts around your payroll cycle and agree the rates with you.
Run and Refine
Monthly conversions run automatically. You get a reporting pack and a dealer on call.
This isn’t about FX. It’s about control:
5–10
Working days to go live
12 months
Forward Contracts Locked Ahead
2–4%
Typical annual FX gain
Questions that EORs Often Ask
A forward exchange contract (FEC) locks in a rate for a future date. Because South Africa has higher interest rates than the UK/US/EU, the 12‑month forward rate is higher than today's spot — that difference is the “forward point”. It exists because the market has to neutralise the interest‑rate gap. When an EOR holds the forward, the forward points land in its pocket as ZAR profit. Typically 2–4% per year on the hedged amount.
No. That's the whole point. EORs are asset‑light services businesses; banks rarely give them a decent FEC facility because there's nothing to secure against. You operate under Kuda's intermediary profile at Investec. No credit underwrite on your balance sheet, no collateral, no monthly fees on the FX account, and it earns a net interest rate of 5.25% on idle ZAR balances.
A blended intermediary margin to Kuda FX and 0.13% to Investec as our authorised dealer. That is the entire stack — no setup fee, no minimums, no monthly retainer. Every number on this page is already post‑cost.
You're not speculating. You're locking the rate at which you pay your staff. If the Rand rallies hard, your invoicing and your payroll still match, your margin is still protected, and you still earn the forward points. You've eliminated the downside (Rand weakness hurting staff cost in ZAR) and - critically - the variance, which is what makes pricing contracts to your EOR clients so painful today.
Typically 5–10 working days. We handle the account setup, align everything to your payroll cycle, and get the first structure in place. From there, it runs seamlessly — we book, you confirm.
All deal data flows automatically into our treasury system. You get a monthly pack covering open hedges, exposure vs forecast, revaluation and cash‑flow schedules - all in a format that works for internal reporting, audits, and board discussions.
All the liquid majors — GBP, USD, EUR, AUD, NZD, CAD, JPY, CHF — plus most of the G20 crosses. If your clients pay in something exotic, we'll tell you exactly what's feasible on the first call.
Yes. Kuda Foreign Exchange (Pty) Ltd is a registered FSP (46310), a member of the Kuda Holdings group, and a signatory to the SA Association of Treasury Advisors' FX Global Code. Our authorised dealers are Investec and Capitec. Everything we do sits within South African regulatory frameworks.
Let's build the treasury stack your EOR deserves.
Send us your 12‑month foreign‑currency forecast and your payroll roll. We'll come back with a tailored strategy — rates, contract schedule, expected FX gain, and a policy draft your board will sign off. No obligation, no pitch deck.