Nigerian neobank Kuda eyes global reach with new licenses
- Kuda Technologies secures payment licenses in Tanzania and Canada for expansion.
- Licenses enable Kuda to offer remittance and multi-currency wallet services.
- Kuda will compete with neobanks like LemFi and Nala.
Kuda's expansion into Tanzania and Canada through obtaining payment licenses demonstrates its commitment to serving the needs of Africans in the diaspora. The remittance market presents a significant opportunity for growth, given the increasing number of Nigerians and Africans seeking better opportunities abroad. However, Kuda will face competition from other neobanks targeting the same market. It is crucial for Kuda to differentiate itself and provide innovative solutions to attract and retain customers.
