That’s great news! Kuda Technologies seems to be expanding its reach globally. With the recent acquisition of payment licenses in Tanzania and Canada, the company appears to be making significant strides towards expanding across Africa and the international financial market.
Kuda Bank Acquires Two New Licence
The new licences will enable Kuda Bank to offer remittance and multi-currency wallet services to its customers in Tanzania and Africans in Canada. It’s exciting to see Kuda Bank’s continued efforts towards global coverage and providing convenient financial solutions to its customers.
This new milestone will make Kuda Digital Bank more prominent in the global financial space for Africans in the diaspora thus competing with other neobanks servicing Africans abroad such as Nala and LemFi.
The remittance market has indeed seen a surge in investor interest, owing to the increasing number of Nigerians and Africans seeking opportunities abroad.
Expanding coverage towards Canada may be a smart strategy for Kuda neoBank. By targeting markets with rapidly increasing numbers of Nigerian migrants, Kuda can tap into new revenue streams and potentially mitigate the impact of fluctuating forex (FX) rates on their profits.
This expansion will undoubtedly make Kuda Online Bank more appealing to Nigerians who have relatives abroad. As a result, we can expect to see a surge in the number of Kuda bank accounts being opened by Nigerians.