Nigerian-based digital bank Kuda is taking significant steps to serve Africans in diaspora. After launching a remittance service for Nigerians in the UK last year, Kuda is now setting its sights on Canada.
The Kuda digital wallet will allow users to add funds in various currencies, including GBP, EUR, USD, and CAD, and seamlessly transfer money to African countries through a robust network of trusted partners. The wallet will allow users to send money home to Africa quickly and affordably.
Kuda focuses on Canada's large Nigerian diaspora population, estimated to be over 100,000. However, while Kuda's global push is ambitious, it faces challenges like complex regulations in different countries. Kuda will seek to overcome these challenges and deliver on its promise to be a one-stop shop for financial services for Africans worldwide.
