…As COO Says the Real Test of a Payment Comes at Reconciliation
For finance teams at African businesses trading internationally, a cross-border payment does not end when the money is sent. It ends when the funds are confirmed, transaction records match, and the books are balanced. Often, that is where the hardest work begins.
Oneremit, a cross-border payments company serving businesses across more than 100 countries, says its concierge model is built around this reality, providing finance teams with direct human support from the moment a payment is initiated until it is successfully reconciled.
Olusola Kolawole, co-founder and Chief Operating Officer of Oneremit, said much of the hidden cost of international payments falls on finance teams, which often spend hours confirming fund transfers, obtaining documentation for suppliers and auditors, and matching transactions across banks and currencies at the end of each month.
“Speed gets the attention, but for a finance team, the harder question is whether they can account for every payment when the books close. A transfer that lands in minutes but leaves a gap in the records has only solved half the problem.
“Our team supports finance teams through the full cycle: tracking payments, providing confirmations their suppliers will accept, and making sure the records hold up when it is time to reconcile or audit,” he said.
From Payment Execution to Financial Control
Hammed Afenifere, CEO and co-founder of Oneremit, said the company’s model reflects its belief that growing businesses need a payments partner rather than just another payments tool.
“As businesses grow, international payments stop being an occasional task and become a core finance function, with more suppliers, more currencies and more scrutiny from auditors and boards.
“At that point, what they need is not another dashboard. They need a team that understands their finance operations and works alongside them,” he said.
According to Afenifere, this approach places the needs of finance teams at the centre of cross-border payment services, helping businesses manage international transactions while maintaining better financial control.
Built for the Books, Not Just the Transfer
Oneremit settles payments in minutes through local payment networks and holds licences and registrations in Nigeria, Canada and the United States.
The company said every transaction is screened and recorded, providing finance teams with a documented transaction trail to support reconciliation, auditing and financial reporting.
Kolawole explained that combining payment speed with compliance measures and human support is intended to reduce the administrative burden on finance teams.
By minimising the time spent tracking transfers, following up on payment confirmations and resolving documentation issues, the company aims to help finance professionals focus more on financial planning, cash management and business growth.
Beyond Speed: The Next Phase of Cross-Border Payments
As Africa’s cross-border payments market evolves, businesses are increasingly looking beyond transaction speed to the broader demands of international financial operations.
For companies managing multiple suppliers, currencies and banking relationships, the ability to track payments, verify transactions and maintain accurate financial records can be just as important as how quickly funds arrive.
This is the challenge Oneremit says it is addressing through its concierge model, which combines payment execution with ongoing support for finance teams.
The broader question for Africa’s cross-border payments industry is what businesses should expect once fast settlement becomes standard.
For Oneremit, the answer lies not simply in how quickly money moves, but in how confidently businesses can account for every transaction.
Ultimately, sending the payment is only half the job. Ensuring that it is properly documented, verified and reconciled is what completes it.
