Kuda hits N55.8trn transactions value in four years
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In a New Year’s message addressed to its users, Babs Ogundeyi, the CEO of Nigerian digital bank Kuda, revealed that the platform has facilitated transactions totaling N55.8 trillion ($61.4 billion) since its inception in August 2019.
Achieving this milestone, along with catering to over seven million customers, highlights Kuda’s resilience and success in overcoming economic challenges in 2023.
Ogundeyi conveyed his appreciation to customers for their trust during a challenging year, recognizing the nationwide cash crunch and financial struggles that characterized 2023. Despite these hurdles, Kuda not only weathered the storm but also continued to thrive.
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“We are proud of the headway we made against all odds in 2023, from launching cashless features that were a lifesaver during the cash crunch to making Kuda Business even more useful for Nigerian entrepreneurs. These are a solid foundation for the much bigger steps we will take in 2024,” he said.
Operating under a microfinance bank license from the Central Bank of Nigeria, Kuda offers a comprehensive range of services, including account opening, deposits, transactions, and credit access.
The neobank has expanded its portfolio by venturing into cross-border payments and entering new markets. Kuda’s international footprint now extends to the UK and Pakistan, the latter acquired through the procurement of a digital banking license from the State Bank of Pakistan.
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Looking forward to 2024, Ogundeyi outlined Kuda’s focus on intensifying efforts on existing offerings such as Kuda Overdraft, Kuda POS terminal, and Kuda Business. The CEO expressed optimism, stating, “No matter what economic forecasts say, I believe that things are looking up for us all this year.”
“Kuda will be here to support you and we will celebrate your progress every step of the way,” the CEO said.
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