KUDA EXPANDS TO THE UK

Kuda, the money app for Africans, is launching in the UK as part of a major global expansion drive, following a total investment of over US$90 million. In a statement by the company, the launch will, among other things, enable hundreds of thousands of UK-based Nigerians to combat high remittance costs on large transfers, which currently average at eight per cent – significantly short of the UN Sustainable Development Goal target of three per cent. Kuda Technologies Limited was founded in 2019 by two Nigerians, Babs Ogundeyi and Musty Mustapha. Its Nigerian business rapidly expanded to become the country’s number one money app, with nearly five million customers.