Kuda Microfinance Bank, an African neobank, has secured payment licenses in Tanzania and Canada as part of an expansion drive across Africa and the global market.
Details
Kuda received one licence which will allow it to offer remittance and multi-currency wallet services to Africans living in Canada.
The second license is a Tanzanian Payment Service Provider (PSSP) licence that will offer similar services to Kuda’s Tanzanian customers.
Data Insights
Remittances to Africa have been increasing steadily over the last couple of years. In 2023, Nigeria recorded the highest number of remittance inflows with $20 billion.
Source: TechCabal
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