What to know as Kuda hits N55.8trn transactions value in four years

 What to know as Kuda hits N55.8trn transactions value in four years

As the New Year arrived, Babs Ogundeyi, the CEO of Kuda, a leading digital bank in Nigeria, shared an extraordinary achievement with its users. Since its launch in August 2019, Kuda has processed an astounding N55.8 trillion ($61.4 billion) in transactions.

This remarkable milestone, accompanied by its ability to serve over seven million customers, exemplifies Kuda’s resilience and triumph over the economic challenges that plagued 2023.

In his heartfelt message, Ogundeyi expressed deep gratitude to Kuda’s loyal customers for their unwavering trust during the trying times of the past year. Recognizing the nationwide cash crunch and financial struggles that defined 2023, he acknowledged the obstacles faced with humility. Yet, despite these challenges, Kuda emerged stronger than ever, not just surviving but thriving against all odds.

A beaming Ogundeyi shared, “We take immense pride in the progress we made against all odds in 2023. Our cashless features were a saving grace during the cash crunch, and we enhanced Kuda Business, making it even more useful for Nigerian entrepreneurs. These achievements serve as a solid foundation for the tremendous strides we will take in 2024.”

Operating under a microfinance bank license from the esteemed Central Bank of Nigeria, Kuda offers a comprehensive range of services. From seamless account opening to hassle-free deposits and efficient transactions, Kuda ensures that each customer has access to the financial services they need. Additionally, credit accessibility provides further support to businesses and individuals alike.

Not content with their existing success, Kuda has expanded its portfolio by entering new territories and venturing into cross-border payments. The international footprint of this neobank now reaches the United Kingdom and Pakistan, with the acquisition of a digital banking license from the State Bank of Pakistan.

Looking ahead to the promising year of 2024, Ogundeyi outlined Kuda’s commitment to enhancing their existing offerings such as Kuda Overdraft, Kuda POS terminals, and Kuda Business. Undeterred by economic forecasts, the visionary CEO shared his optimism, firmly believing that brighter days await everyone.

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Closing the message with boundless enthusiasm, Ogundeyi assured Kuda’s users, “Kuda will stand beside you, providing unwavering support, and celebrating your progress at every turn.

Together, we will make this an extraordinary year.” With such determination and dedication, Kuda is poised to continue transforming the banking landscape and empowering countless individuals and businesses across Nigeria and beyond.

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