In a New Year message to its users, Babs Ogundeyi, the CEO of Nigerian digital bank Kuda, announced that it has processed N55.8 trillion ($61.4 billion) in transactions since its launch in August 2019.
This milestone, coupled with serving over seven million customers, underscores Kuda’s resilience and success against the economic challenges faced in 2023.
Ogundeyi expressed gratitude to the customers for their trust during a challenging year, acknowledging the nationwide cash crunch and financial struggles that marked 2023. Despite these obstacles, Kuda not only stayed afloat but also continued to thrive.
“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.
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.
