According to KUDA, technical skills have a significant potential for Fintech businesses in emerging countries, particularly Nigeria.
At a recent media roundtable in Lagos, the financial institution claimed that since its establishment in 2019, it has made significant investments in Nigeria’s economic climate because of its significant position on the continent.
Babs Ogundeyi, Managing Director and Co-Founder of KUDA, who made the declaration, stated that the organization remained committed to serving as a financial institution for all Africans worldwide.
According to Kuda, the company has acquired around 4.6 million clients as a result of the use of technology, and in three years, that number will likely reach five million.
“Nigeria has a very important part to play on the African continent. There is huge potential, not just in the size of the population – the location, we have ports, we have resources, though things are especially difficult, but when it comes to investing in technology, investing in Fintech, Nigeria still carries a lot of weight in Africa. KUDA is part of that.
“Our focus is to be a financial institution for all Africans, all over the world. We started from Nigeria, where we have, apart from being patriotic, domain experience, we understand people, we understand the terrain. It is a very important market in Africa. So, it made sense for us to start from Nigeria. When we started in 2019, there weren’t as many foreign investors as we have today. Two things have happened; we have been part of the growth and belief in Nigeria and Africa. Our growth I believe has sort of fueled not just our belief but also other technology companies as well. I would say we are part of that bracket and it has just kind of demonstrated the potential of leveraging technology.” He noted that KUDA has benefited from being daring and innovative, regardless of the challenges in the financial sector.